Macau casinos report 26% year-on-year surge in April gross gaming revenue to $2.3 billion

Macau's casinos generated MOP18.55 billion (US$2.3 billion) in gross gaming revenue (GGR) in April, marking a notable 26 percent increase compared to the same period last year, according to data released by the Gaming Inspection and Co-ordination Bureau (DICJ).

Despite this year-on-year growth, April's GGR witnessed a slight decline from March's total of MOP19.5 billion ($2.42 billion). The reported figure aligns closely with earlier forecasts made by brokerage firms Morgan Stanley and Citi in early April.

For the first four months of 2024, the accumulated gross gaming revenue stands at MOP75.87 billion (US$9.5 billion), reflecting a substantial 53.7 percent increase compared to the same period last year. This figure also represents 76 percent of the pre-COVID 2019 record.

According to data released early last month by the Public Security Police Force, Macau experienced a bustling Easter holiday weekend in April, with over 330,000 visitor arrivals recorded during the first three days of the festive period. Saturday marked the peak of activity, with an influx of 122,235 visitors, contributing to the overall surge in tourism during the long weekend.

Anticipating heightened travel activity, the Macao Government Tourism Office (MGTO) had earlier projected an increase in arrivals, particularly from Hong Kong. Their forecast aimed for a daily average of 100,000 tourists throughout the Easter holiday period.

This surge in visitor arrivals adds to the positive trend observed in Macau's tourism sector this year. In February, arrivals witnessed a notable 15% month-on-month increase, totaling 3,293,564 visitors for the month. This figure translated to an average of 113,571 arrivals per day. February's tally included the Chinese New Year holiday, which saw a post-pandemic single-day high of 217,451 arrivals.