Asia
Macau’s September Gaming Revenue Drops
Despite the combined impact of Typhoon Saola and the lingering effects of the Covid-19 pandemic, Macau’s casino industry has shown remarkable resilience. Gross gaming revenue (GGR) for September 2023 was US$1.86 billion, a 13% decrease from August, which was the industry’s best post-COVID month, due to typhoon-related casino closures. However, year-on-year, the industry posted a 404% increase compared to September 2022, when pandemic restrictions were still in place.
Despite the September drop, the cumulative revenue for the first nine months of 2023 was US$16.1 billion. This represents a substantial 305% surge compared to the same period in 2022. The impressive rebound has brought the industry’s total revenue close to the government’s annual revenue projection, demonstrating the sector’s strong recovery from the pandemic.
Macau’s gaming industry, traditionally reliant on mainland Chinese high rollers, faces the necessity and pressure to transition away from this model. The economic recession that accompanied the Covid-19 pandemic, as well as Beijing’s push for an overhaul of the gaming sector, have made it impossible for Macau authorities to maintain the status quo.
However, Macau’s gaming industry has shown its ability to adapt and thrive amidst adversity. The city’s transition towards a model less reliant on high rollers and more focused on mass-market visitors could potentially usher in a new era of sustainable growth for Macau’s casino industry.