Macau’s gaming industry recorded gross gaming revenues of MOP$14.94 billion (US$1.85 billion) in September, down 13.2% month-on-month due to seasonality and the impact of adverse weather events earlier in the month.
The September figure was, however, 404% higher than the same month last year as the city continues its recovery from three-years of pandemic-related decline.
For the first nine months of 2023 combined, Macau’s GGR is MOP$128.95 billion (US$16.0 billion), up 305% year-on-year, according to figures from the Gaming Inspection and Coordination Bureau. This means GGR has climbed back to 58.6% of the MOP$220.30 billion (US$27.3 billion) reported across the same period in 2019.
Investment bank JP Morgan previously said September would be a “month to forget” for Macau’s gaming revenues due to the arrival of Super Typhoon Saola on 1 September, which saw Macau’s casinos ordered closed and most border entry points temporarily shut down. Heavy rainfall in the week following also impacted visitation.
Analysts have, however, predicted October to be the most profitable month of the year to date with Q4 visitation and revenues to be boosted by an unprecedented line-up of entertainment events, according to Citi.