Macau’s gross gaming revenues grew by 53.1% year-on-year to MOP$19.50 billion (US$2.42 billion) in March, marking the highest monthly total since the city’s borders reopened in January 2023.
The MOP$19.5 billion total was also 5.5% than February, which benefited from the eight-day Chinese New Year holiday period, with March GGR averaging MOP$629 million (US$78.0 million) per day.
However, gaming revenues still came in 24.5% below March 2019’s revenue of MOP$25.84 billion (US$3.20 billion).
For the first three months of 2024 combined, GGR amounted to MOP$57.3 billion (US$7.11 billion), up 65.5% year-on-year and implying a full year run rate of around MOP$229.2 billion (US$28.4 billion).
Analysts have repeatedly stated in recent weeks that Macau’s gaming market is showing no signs of slowing down, kept rolling along by “underlying demand”.
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