With the release of its Monthly Gross Revenue from Games of Fortune report, the Gaming Inspection and Coordination Bureau (DICJ) of Macau revealed how the city’s gambling industry has performed throughout 2023. According to the data, the year 2023 saw Macau’s gaming industry thrive, and the results show that its gross gaming revenue (GGR) is up by 333.8% compared to 2022. This success can be attributed to the post-pandemic resurgence of tourist activity within Macau.
The year started out somewhat modest in comparison to what we would see towards the end, but January nonetheless almost doubled the figures recorded in 2022: MOP$11.58 billion ($1.4 billion) versus January 2022’s MOP$6.34 billion ($786 million). February had the lowest gross gaming revenue for this year at MOP$10.32 billion ($1.279 billion), but it, too, exceeded February 2022’s figures (MOP$7.759 billion, or $962 million). In fact, each month of 2023 recorded a stark improvement to its 2022 counterpart’s results in terms of GGR.
October was, by far, the most profitable month, as the sector’s GGR reached a record MOP$19.5 ($2.4 billion). December did not fall far behind at MOP$18.56 ($2.3 billion), however, making for a fantastic end to 2023 for the city’s gambling sector.
Tourists Played a Prominent Role in the Success of Macau’s Gambling Industry
Much of the gambling industry’s recovery has been attributed to Macau’s burgeoning tourism sector. Of particular prominence were the October Golden Week holidays, when many tourists from mainland China paid a visit to Macau and its many casino establishments, resulting in MOP$19.5 billion in gross gaming revenue for that month. Like all of the monthly results of 2023, this figure is far larger than the revenue recorded at the same period in 2022 (MOP$3.89 billion, or $483.4 million), and October 2023 was also the month that came closest to matching the January 2020 GGR figure of MOP$22.13 billion ($2.74 billion).
Of course, 2023 was not devoid of problems. October actually served as reassurance that things were looking up, as September’s GGR was recorded to be the worst since April at MOP$14.93 billion ($1.85 billion). This downturn in spending was likely the result of Typhoon Saola, which was designated as a Category 4 storm when it hit Macau. As for 2023’s weakest month, February, its performance suffered due to the city’s struggles with staff shortages when it came to the hospitality industry as a whole. At the time, Macau’s COVID measures had just been lifted, and the city was, therefore, still in the early stages of regaining its stability.
Thankfully, it seems that despite the occasional issues and the somewhat long road to recovery from the pandemic, Macau’s gambling industry has practically been revived. The year 2024 started off with the promising data of 2023, and according to the Macau SAR Government, 2024 might see a total GGR of MOP$216 billion ($27 billion) and thus surpass 2023’s already excellent results.
