Macau hits another post-Covid income record in January 2024

During the first month of 2024, the gaming industry in Macau continued to grow in terms of accumulated profits, with gross gaming profit (GGR) reaching MOP19.3 billion, or approximately MOP2.4 billion of dollars. Furthermore, this GGR represents 77% of the MOP 24.9 billion, or approximately US$3 billion, detected in the first month of 2019, two months before the global outbreak of the COVID-19 pandemic.

The series of post-COVID recordings continues:

In accordance with the information disseminated by the Office of Gaming Inspection and Coordination (DICJ)i.e. the local regulator, the January issue saw a 67% growth compared to January of the previous year. Furthermore, the aforementioned GGR also represents the 4% increase from last month’s GGR MOP18.5 billionwhich is approximately 2.3 billion dollars.

However, right 1 month in the previous year passed January results declared. That month is Octoberwhich involved the National Day holiday week and which was GGR MOP19.5 billionwhich is more or less 2.4 billion dollars.

Throughout the previous year, Macau GGR Casino come to MOP183.05 billionwhich is approximately 22.68 billion dollarsshowing growth of 333.8% of the same period in 2022.

Morgan Stanley forecast:

Morgan Stanley officially predicted that Macao’s mass market gross gambling revenue will surpass 120% of pre-pandemic levels by the end of this year, likely driving EBITDA data to come to 2019 levels.

Furthermore, the previous year represented a renewal for Macau, meaning it emerged from the envelope of COVID-19 and related regulations that managed to shut down the entire city for a period of 3 years. Furthermore, the same year marked the First year of new gaming licenses For 6 dealerswhich means that operators accustomed to the newer environment that involves avoiding parties, have moved to a mass market model with the main aim of attracting further foreign players, second Asia Short game.

In relation, the aforementioned January data passed the expectations of Macau Government. In this sense, in the month of December, The CEO of the SAR underlined his projection of MOP180 billionwhich is approximately 22.4 billion dollarsSome MOP50 billionwhich is approximately 6.22 billion dollarshigher than previously expected by the government.

According to the latest gaming licenses, whether the annual GGR in Macau reaches or exceeds MOP180 billionthe aforementioned 6 dealers will have to relaunch theirs MOP109 billionwhich is more or less $13.48 billion, non-gaming related expenditure for a maximum of 20%. But the CEO of RAS was withheld to reveal the necessary requirements to the operator as soon as the threshold is exceeded.

Macau’s mass dining segment reached 75% market share in the fourth quarter of 2023:

In other news, since Macau casino facilities resumed operations in January 2023, the mass table market has seen steady growth and accounted for 75.2% of total table revenue in Q4 2023 The figure was reportedly up from a 74.4% share held in the previous quarter. .

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