The total is up 400.2% from MOP3.90bn in Macau in October of 2022 and 30.5% ahead of MOP14.94bn in September this year. The figure is also the highest monthly total so far this calendar year.
Perhaps more importantly, it is, by some distance, the largest monthly amount since the outbreak of Covid-19 in early 2020. The previous post-pandemic high was August this year when MOP17.21bn was reported.
While the October figure is still short of pre-pandemic revenue levels, which regularly hit the mid-MOP20bn range, it suggests that Macau is moving back towards these heights.
The last time Macau exceeded MOP20.00bn in gambling revenue was January 2020, shortly before pandemic restrictions were imposed.
Year-to-date revenue in Macau exceeds MOP148bn
Looking at the year-to-date figures, revenue in the 10 months to the end of October reached MOP148.45bn. This is 315.6% ahead of MOP35.72bn at the same point last year.
However, it is important to note that year-on-year comparisons between 2022 and 2023 are impacted by Covid-19 measures. Last year, Macau casinos were faced with temporary closure in line with such measures. Travel to and from the region was also restricted.
Fast-forward to the present day and all restrictions have been removed in Macau. This has allowed the market to fully reopen; something that can be seen clearly in the improving monthly figures.
Pandemic-related restrictions were relaxed following nationwide protests against the length and severity of the government’s “zero-Covid” policy. Visitors from outside China no longer have to quarantine and the number of flights into China are now uncapped.
Genting Malaysia misses out on Macau concession
As well as a relaxed operating environment, 2023 has also seen confirmation of the latest round of Macau concessions.
Seven applicants applied for the concessions. Incumbents Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts and Wynn Resorts all put their names forward.
They were also joined by Genting Malaysia which had been seeking approval to launch in the region.
However, the six operators already active in Macau were selected for the concessions. This meant the market remained unchanged and Genting missed out.
The new concessions commenced on 1 January and run to 31 December 2032.