Macau gaming industry expected to generate $2.36B revenue in March 2024

Macau gaming industry expected to generate $2.36B revenue in March 2024

In the heart of Macau's famed bustling gaming landscape, a new chapter seems to be unfolding in the saga of its economic prowess as esteemed investment bank JP Morgan has predicted that the world-renowned casino hub’s March revenue will likely surge to $2.36 billion. JP Morgan's estimated figure, unveiled amidst intense excitement, resonates like a melody of success. According to reports published by Inside Asian Gaming (IAG), gaming establishments in Macau generated a remarkable revenue of $77.9 million daily during the preceding week of this month alone. This surge in activity reveals a strong market pulsating with resilience and liveliness, showing no signs of the anticipated slowdown.

Marking a departure from historical trends, wherein the month of March typically witnessed a 4 per cent month-on-month decline, the Chinese SAR’s gaming landscape defies convention. Instead, it embraced an unprecedented increase in activity during what is conventionally considered a slower period. This accelerated momentum not only challenges fixed notions but also drove the city's gross gaming revenue to stunning new heights.

As JP Morgan's analysts methodically dissected the data, a picture of notable resilience emerged. The mass gaming market of the city, experiencing a surge of 110 per cent over pre-pandemic levels, stands as a testament to the city’s enduring appeal. Even as the VIP segment cautiously seems to be navigating recovery.

Announcing the soaring trend, JP Morgan stated, “We continue to model March to print a GGR of circa MOP19 billion [$2.36 billion], which will drive first-quarter GGR to grow 5 percent quarter-on-quarter – or over 60 percent year-on-year – to be yet another post-pandemic highs.”

This projection not only surpasses the previous quarter's results by a noteworthy 5 per cent but also sets a new benchmark in the annals of Macau's famous gaming history.

As the first quarter (Q1) of 2024 comes to a close, Macau stands on the brink of greatness. With each spin of the roulette wheel and shuffle of the cards, Macau reaffirms its status as the unbeatable destination of gaming excellence. Resilient, innovative and unyielding in the face of adversity, the casino hub emerges stronger and more vibrant than ever before, a testament to its steadfast spirit and unyielding pursuit of excellence. Indeed, the stage is set for the city to shine brighter than ever, leading the way towards a future defined by prosperity, innovation and unrestrained success.

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