The latest figures from Macau’s Gaming Inspection and Coordination Bureau have revealed that gaming revenue for the month of January hit its highest monthly peak since 2020.
According to the bureau, gaming revenues for the first month of the year hit MOP11.58 billion (€1.32 billion). This was year-on-year increase of 82.5%. However, the bureau does note that this figure does include a bump in revenue thanks to the Lunar New Year holidays which feel in January of this year.
This period also aligns with Macau’s decision to fully open to Chinese territories and other local countries such as Taiwan. This ended all testing procedures for mainland China, Hong Kong, and Taiwan, and also removing all quarantine mandates for arrivals from other foreign nations.
At the height of the Lunar New Year celebration, Macau’s tourism industry saw a peak of more than 90,000 visitors per day, with all rooms in the major hotels fully occupied during that time.
Hotels have predicted 70% occupancy for the coming weeks and casinos have reported a strong increase in mass and premium mass segments, while VIP activity has declined after the main junket operators in Macau were targeted by authorities.
Analysts predict that January’s Gross Gaming Revenue (GGR) will set the pace for the rest of the year, due to easing of restrictions.
Macau’s six gaming concession holders also marked their first month with new gaming licenses that took effect on January 1st. They have high expectations that gaming revenue will offset their multi-billion-dollar obligations under the newly established 10-year contracts.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.