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Macau revenue reaches record heights for 2023 in August

| By Marese O'Hagan
Macau's gross gaming revenue (GGR) totalled at MOP17.21bn (£1.67bn/€1.96bn/$2.12bn) for August, breaking July's record for the highest GGR of the year.
Macau revenue August

Revenue has ticked up steadily throughout the year, increasing every month with the exception of May to June, when revenue fell by 2.3% and January to February, when revenue fell by 10.8%

Year-on-year revenue comparisons in Macau have been extraordinarily high throughout 2023, as the special administrative region recovers from the Covid-19 pandemic. For August, revenue was up by 685.4% yearly.

While this was one of the higher year-on-year increases during the year, it was decidedly lower than the 4,082.9% rise seen in July.

Revenue in Macau now stands at MOP114.01bn cumulatively for the first eight months of the year, up by 295.1% yearly.

Success all-round in August

The month saw Macau-based casinos post positive second quarter results. Melco reported a 220.0% revenue rise for Q2, while Wynn Resorts posted an increase of both revenue and profit for the period.

Meanwhile, at Galaxy, revenue shot up 257.0% year-on-year. SJM Holdings continued this trend by posting its first six-month stretch of positive earnings before interest, tax, depreciation and amortisation (EBITDA) since 2019.

Melco, Wynn Resorts, Galaxy and SJM were four of the six operators to receive concessions from the Macau government late last year.

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