Macau Casino Revenue Reaches Six-Year High in October
The gaming industry in Macau reported a robust performance in October 2023, achieving revenues of 24.1 billion patacas (€2.6 billion). This marks the highest monthly revenue for the region since October 2019, according to the Gaming Inspection and Coordination Bureau (DICJ).
Impact of Typhoon Matmo
Despite the challenging weather conditions posed by Typhoon Matmo, which led to a level 8 tropical storm signal on 4 October and the suspension of public transport, Macau saw significant visitor numbers. This storm coincided with China’s National Day holiday, which was extended this year due to the proximity of the Lunar Cake Festival on 7 October.
Visitor Statistics
During the “golden week” of October, Macau attracted about 1.14 million visitors. This figure indicates an increase of 16.5% compared to the same period in 2022. Notably, the highest single-day visitor count occurred on 4 October, with over 191,000 guests.
Revenue Growth Exceeds Expectations
The October revenue reflects a year-on-year increase of 15.9%, surpassing predictions from financial analysts. JP Morgan Securities anticipated growth between 3% and 6%, while Seaport Research Partners forecasted a 10% rise.
- October 2023 revenue: 24.1 billion patacas
- Visitor count: 1.14 million
- Daily peak on 4 October: 191,000 visitors
- Year-on-year revenue growth: 15.9%
- Predicted revenue for 2025: 240 billion patacas
This revenue figure, while impressive, still represents 91.1% of the revenues recorded in October 2019, before the onset of the Covid-19 pandemic. Back then, revenues stood at 26.4 billion patacas (€2.86 billion).
Cumulative Gross Revenue
For the first ten months of 2023, Macau’s accumulated gross revenue reached 205.4 billion patacas (€22.2 billion), indicating an 8% increase compared to the same period in 2022. At the close of 2022, the overall revenue was 226.8 billion patacas (€24.5 billion), reflecting a growth of 23.9% from the previous year.
In the revised budget for 2023, the Macau government originally anticipated closing totals of 240 billion patacas (€25.9 billion), representing a 6% increase from 2022. However, modifications approved by the local parliament resulted in a downward adjustment of public revenue forecasts by 4.56 billion patacas (€492.7 million).
Macau’s Unique Status
As the only location in China where casino gambling is permitted, Macau remains a prominent destination for gaming enthusiasts. Six major concessionaires operate in the territory: MGM, Galaxy, Venetian, Melco, Wynn, and SJM. These companies successfully renewed their concession contracts in December 2023 for another ten-year period, effective from 1 January 2024.
