Macau's GGR reaches $2B in November; full-year revenue expected to reach $21.2B

Macau’s gaming revenue for November receded to MOP16.04 billion ($2 billion), a level similar to July and up 435% compared to the same period of the previous year, according to data released by the Gaming Inspection and Coordination Bureau.

While November's GGR was some 17.7% behind the $19.50 billion posted in October 2023, the month still marked the fourth-highest monthly total so far in the year and is further proof of the constant year-on-year growth in the gambling hub since all restrictions related to Covid-19 were lifted.

November’s drop from October 2023 came as little surprise, as analysts predicted the month would be considerably lower: October benefited from hosting eight days of the Golden Week holiday and marked the highest GGR for Macau since the end of the pandemic, resulting in tough comparatives.

With the November figure taken into consideration, the first 11 months of the year saw a total of MOP164.49 billion ($20.44 billion) in gross gaming revenue, up 324.9% year on year and about 61% compared to the 2019 level.

Macau authorities expect the annual casino revenue to reach at least MOP170 billion ($21.12 billion) this year.

The Macau Government predicts that the local casino sector will be able to generate a total of MOP216 billion ($26.84 billion) in gross gaming revenue in 2024, a recovery that should allow the Macau SAR to once again record a financial surplus. Based on these figures, an average of about MOP18 billion ($2.2 billion) is needed each month to achieve that goal.