Boosted by the Chinese New Year Golden Week, Macau’s gross gaming revenue in February 2024 amount to MOP$18.5 billion (US$2.3 billion).
Macau recorded 1.36 million visitor arrivals during this year’s Lunar New Year Golden Week, with an average daily 169,725 visitors and an average hotel occupancy rate of 95.2%. The large number of arrivals also boosted gaming revenue. According to data released minutes ago by the Gaming Control and Adjustment Bureau (DICJ), GGR in February increased 79% year-on-year, with the MOP$18.5 billion (US$2.3 billion) GGR total the fourth highest for a single month since January 2020, when GGR was MOP$22.1 billion (approximately US$2.8 billion).
However, this February’s revenue was still 27.1% below February 2019’s revenue of MOP$25.4 billion (US$3.2 billion).
GGR for the whole year of 2023 reached MOP$183 billion (US$22.3 billion), triggering an automatic 20% increase to the contracted investment in non-gaming initiatives by Macau six casino concessionaires from 2024 onwards.
For the first two months of 2024, GGR has amounted to MOP$37.8 billion (US$4.7 billion), implying a full year run rate of MOP$227 billion (US$28.4 billion), putting aside seasonal factors.
According to investment bank JP Morgan, the average daily gross gaming revenue during the eight-day Chinese New Year Golden Week likely topped a four-year high of around MOP$1 billion (US$124 million).
RelatedPosts
