Macau gaming revenue hits record high in October

Macau’s gaming revenue soared in October, marking a 6.6% year-on-year increase, thanks to a surge in visitors during China’s Golden Week holiday, the Gaming Inspection and Coordination Bureau revealed today (Friday). The city’s gross gaming revenue reached MOP20.8 billion ($2.6 billion), the highest since COVID-19 halted travel.

According to a Bloomberg report, the numbers align with analysts’ predictions and represent a 20% rise over September’s revenue, although they remain 21% below pre-pandemic levels from 2019.

During the seven-day Golden Week holiday, Macau saw a significant influx of visitors, with average daily tourist numbers reaching nearly 142,000 — surpassing 2019 levels. September alone saw 2.5 million arrivals, roughly 91% of pre-pandemic figures, with the majority of tourists arriving from mainland China.

In addition to the Golden Week boost, Macau’s casinos benefited from concerts by popular Hong Kong and Korean artists in late October, which resulted in another Golden Week for the operators, drawing additional crowds, industry analysts point out.

However, the gaming industry is facing regulatory challenges as China tightens its stance on capital outflow and money laundering. Macau’s legislature recently criminalized unlicensed money exchanges, a practice common around casinos.

Adding to the city’s regulatory shift, former judge Sam Hou Fai, elected as Macau’s new leader in October, has expressed concerns over the gaming industry’s dominant influence, signaling a possible push for economic diversification.

Meanwhile, the financial impact on casino operators has been mixed; the Bloomberg Intelligence index of Macau casino operators dropped 11.4% in October, and the Hang Seng Index, Hong Kong’s main benchmark, declined by 3.9%, reflecting investor caution amid regulatory uncertainties. PC

Monthly GGR in 2024 and 2023

Monthly Gross Revenue Accumulated Gross Revenue 2024 2023 Variance 2024 2023 Variance Jan 19,337 11,580 +67.0% 19,337 11,580 +67.0% Feb 18,486 10,324 +79.1% 37,823 21,904 +72.7% Mar 19,503 12,738 +53.1% 57,326 34,642 +65.5% Apr 18,545 14,722 +26.0% 75,872 49,364 +53.7% May 20,188 15,565 +29.7% 96,059 64,929 +47.9% Jun 17,694 15,207 +16.4% 113,753 80,136 +41.9% Jul 18,595 16,662 +11.6% 132,348 96,798 +36.7% Aug 19,754 17,213 +14.8% 152,102 114,011 +33.4% Sept 17,253 14,937 +15.5% 169,355 128,947 +31.3% Oct 20,787 19,501 +6.6% 190,142 148,449 +28.1%

Source: DICJ

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