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Macau is an autonomous region on the south coast of...
August as Macau’s best-performing month
Macau’s casinos generated $2.47 billion in August, which is 15% more compared to 2023.
Macau is an autonomous region on the south coast of China, across the Pearl River Delta from Hong Kong. It is the only jurisdiction in the People’s Republic of China (PRC) where casino gaming is lawful.
Many analysts predicted that August would be the best month for Macau’s gaming industry and found that gross gaming revenues from 36 casinos would range from MOP19 billion to MOP20 billion.
The month itself was beneficial for the industry, as it had 14 Fridays, Saturdays, and Sundays, compared to only 12 in August 2023.
The gaming industry shifted its focus from VIP to the mass market, and despite the challenges, August, in fact, was a strong month, generating gross gaming revenues of $2.47 and changing the total revenue for 8 months to MOP152.1 billion (US$18.92 billion). This marks a 33% increase compared to the same period in 2023 and brings the total to nearly 78% of what was achieved in the same period before the pandemic in 2019.
Macau now has a new chief executive Sam Houston Fai could further impact the casino sector. He has criticized the casino industry’s growth and its major influence on Macau’s economy and youth, suggesting the city needs to diversify beyond gaming for long-term sustainability.
Looking ahead, former Court of Final Appeal President, Sam Houston Fai criticized the casino industry’s growth and its major influence on Macau’s economy and youth, suggesting the city needs to diversify beyond gaming for long-term sustainability.
FAQs
Is gambling legal in Macau?
Macau is the only place in China where gambling is legal.
What is the legal gambling age in Macau?
The legal gambling age in Macau is 21.
How many casinos are there in Macau?
Macau has 36 casinos available for players.
What changes have occurred in Macau’s gaming industry?
Macau’s gaming industry has shifted its focus from VIP gaming to the mass market, which has contributed to the strong performance in August.
Why was August 2024 a strong month for Macau’s gaming industry?
August 2024 had 14 Fridays, Saturdays, and Sundays, compared to 12 in August 2023, which contributed to the higher revenue.
What challenges did Macau’s gaming industry face during the pandemic, and how did recent events impact it?
During the pandemic, Macau’s gaming industry faced significant issues. In late 2022, the six casino operators agreed to invest $16.2 billion in non-gaming projects for new 10-year licenses. However, after Suncity’s Alvin Chau, known as the “Junket King,” was sentenced to 18 years in prison for illegal gambling, the situation worsened. This led many VIP groups to relocate to markets like Vietnam, the Philippines, and South Korea.
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