Macau’s gaming revenue rose 404% year-on-year, massively outperforming September 2023’s US$ 370 million results. This surge was particularly notable, considering the disruptions caused by a severe storm on September 1st. In response to the dangerous weather, the Macau Government temporarily closed six casinos, which resumed operations the following day.
Year-to-date results also indicate impressive recovery and growth, thanks to the Chinese Government’s decision to end its zero-COVID policy. Macau’s cumulative income reached US$15.98 billion, a remarkable 305% increase. These figures far surpass the US$3.94 billion recorded as of September 2022 and should keep growing in the following months.
Despite the dip in August and the temporary setback in September due to the storm, Macau’s gaming industry has experienced substantial growth throughout the year. Although current figures still fall below the September 2019 gaming revenue of US$2.74 billion, the ongoing 2023 resurgence suggests that the region has rebounded following the end of China’s strict COVID-19 measures.
The local gambling industry continues to evolve
While recent data indicates the region’s VIP business has shifted to competing destinations like Singapore and Manila, Macau’s mass market business has rebounded significantly and is enjoying impressive momentum. These results signal that Macau doesn’t necessarily need to return to pre-pandemic revenue levels to thrive and can broaden its appeal to attract non-gambling tourists.
A recent gambling survey among Macau locals underscored the ongoing changes, recording a drop in gambling participation and problem gambling. While these changes do not necessarily translate to the broader industry, they reflect the local government’s overarching policy. Regulations now require casino resorts to invest in non-gambling projects, aiding the region’s slow realignment towards a broader tourism destination.
The ongoing recovery in Macau’s gaming industry, particularly in the mass market segment, highlights the region’s adaptability and resilience in the face of ongoing challenges. As the Chinese government’s policies evolve, Macau’s gambling landscape will continue to transform, positioning the region for future growth and success.
Source: GMB / Gambling News
