INDUSTRY BRIEF: Macau gaming revenue rises 14.9% in November
Macau’s gaming industry recorded gross revenue of 18.44 billion patacas ($2.3 billion) in November, up 14.9% year-on-year but down 11.3% from the previous month, according to the latest data from the Macau Gaming Inspection and Coordination Bureau. The strong year-on-year growth continues a recent trend as the number of Chinese tourists visiting Macau has risen steadily since the weeklong Oct. 1 National Day holiday.
The latest monthly figure brings Macau’s cumulative gross gaming revenue to 208.6 billion patacas for the first 11 months of the year, up 26.8% year-on-year to a four-year high, but still 22.6% below the pre-pandemic level in 2019.
Ho Iat Seng, Macau’s top official, estimated last month that Macau’s full-year gross gaming revenue could reach 228 billion patacas this year. He also calculated that based on a relatively conservative forecast of 6% growth next year, gross gaming revenue would be approximately 240 billion patacas in 2025. Based on the current total through November, this year’s gross gaming revenue may not only meet the government’s target, but also has the potential for upside.
By Lau Chi Hang
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