The Macau casino segment has experienced an impressive surge. Its November GGR rose 14.9% YoY to MOP18.44 billion (about $ 2.3 billion). Eased travel rules and an increasing amount of tourists mainly caused the dynamic growth.
Key Notions from the Financial Report
The year-to-date results for 2024 reached MOP208.58 billion, which is just MOP1.42 billion less than previous annual predictions.
The main numbers for the period:
- 80.4% — the level of GGR compared to pre-COVID rates;
- 11.5% down — the difference in MoM revenue to November;
- 98% — the per cent of visitations in October to pre-pandemic times.
The reason behind the decline between the 2 last autumn months is the famous Golden Week held on October 1st-7th, which scored over 3 million travellers.
The local operators of gambling halls demonstrated mixed results in November. The corresponding coefficient dropped by 2.4%, while the Hang Seng Index decreased by 4.4%.
Macau’s officials expect the total 2024 GGR to account for about MOP227 billion. The forecasted figures are based on historical patterns of annual December performance. According to industry analysts, revenue in the last month of this year may reach 86% of 2019 rates.
Predictions for 2025 and Challenges
The region’s Secretary for Economy and Finance voiced MOP240 billion as a target benchmark for GGR next year. Lei Wai Nong's opinion evoked heated discussions among legislators.
Some officials perceive the set number as rather conservative. Meanwhile, other lawmakers worry the authorities may misestimate receipts and external factors like market competition. Citigroup’s experts provided more optimistic figures, forecasting that 2025 GGR could hit MOP243 billion.
Nevertheless, the region’s gambling sector continues to recover from the pandemic, increasing its overall results. Recent policy changes, like newly established visa standards allowing weekly visits for Zhuhai’s residents in a neighbourhood, are behind this constant growth.
Although positive tendencies are abundant and substantial, the gaming hub also faces some challenges, such as:
- lower spending by the Chinese;
- harsher money-exchange regulatory standards;
- Beijing’s drive to diversify the region’s economy beyond the casino niche.
These factors hinder the long-term prospects for Macau’s entertainment industry. Nevertheless, the local administration has solutions for each issue and can potentially lead the segment to sustainable growth.
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