Macau surpasses 2022 revenue total in first four months
Gross gaming revenue in Macau during the opening four months of 2023 surpassed the total amount generated in the whole of last year.
In the four months through to the end of April, revenue for the special administrative region of China was MOP49.23bn (£4.88bn/€5.53bn/$6.12bn), which was 16.7% higher than the MOP42.20bn reported in all of 2022.
The year-to-date figure was also 141.4% ahead of where the market was at the same point in the previous year.
Macau experienced year-on-year growth in each of the months, with the latest figures for April showing gross gaming revenue was 449.9% up at MOP14.72bn.
Revenue in January was 82.5% higher at MOP11.58bn, while February revenue increased by 33.1% to MOP10.32bn and revenue in March hiked 246.9% to MOP12.74bn.
The improving figures came as the region continued to feel the impact of relaxed Covid-19 restrictions, many of which have now been removed, allowing more visitors to enter into Macau.
Visitors from outside of China who enter the country no longer have to quarantine, while the number of flights into China is no longer be capped. This followed major nationwide protests against the length and severity of the government’s “zero-Covid” policy.
Concessions
The start of 2023 also marked the beginning of new concessions for gaming operators in the region.
Seven applicants applied for the new concessions: incumbents Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts and Wynn Resorts, plus Genting Malaysia. However, the six operators already doing business in Macau were chosen, meaning Genting missed out.
The new concessions began on 1 January 2023 and wull end on 31 December 2032.