Gambling revenue in Macau surged to MOP19.50 billion in October, marking the highest monthly amount since before the pandemic. This figure represents a staggering 400.2% increase from October 2022 and a 30.5% rise from September 2023. It is also the highest monthly total so far this year, indicating a strong recovery for the region’s gambling industry.
While the October revenue is still below pre-pandemic levels, it signals a return to the heights that Macau was previously known for. The last time the region exceeded MOP20.00 billion in gambling revenue was in January 2020, prior to the implementation of pandemic-related restrictions.
Year-to-date revenue in Macau reached MOP148.45 billion in the 10 months leading up to October, representing a notable 315.6% increase from the same period in the previous year. However, comparisons between 2022 and 2023 are influenced by the impact of Covid-19 measures, including temporary casino closures and travel restrictions.
The removal of all pandemic-related restrictions in Macau has allowed the market to fully reopen, leading to improving monthly revenue figures. This relaxation of measures followed nationwide protests against the severity of the government’s “zero-Covid” policy and has resulted in the lifting of quarantine requirements for visitors from outside China.
Additionally, Macau recently announced the latest round of casino concessions, with the six incumbent operators—Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts, and Wynn Resorts—retaining their licenses. Despite applying for a concession, Genting Malaysia missed out on the opportunity to enter the region, as the market remained unchanged.
The new concessions began on January 1 and will run until December 31, 2032, solidifying the position of the existing operators in Macau. These developments indicate a positive outlook for Macau’s gambling industry and suggest a return to pre-pandemic levels of success.