Macau records 14.9% rise in November gambling revenues
Macau, an autonomous region on the south coast of China where casino gaming is lawful, reported its gambling revenues for November, highlighting a rise of 14.9%, which equals...
Macau reports the highest GGR with $2.5B reach
Macau, an autonomous region on the south coast of China where casino gaming is lawful, published its October revenues, highlighting the GGR reach to $2.5 billion.
In October 2024, Macau’s gross gaming revenue reached MOP20.7 billion, which is equal to $2.5 billion. When comparing to October 2023, this is an increase of 6.6% and makes it the best month.
This spike in revenue was supported by the National Day Golden Week, which typically boosts daily earnings, with a notable 20.4% rise from September.
However, October’s revenues were still down 21.3% compared to the pre-pandemic GGR of MOP26.4 billion ($3.3 billion) in October 2019. For the first ten months of 2024, the total GGR reached MOP190.1 billion ($23.7 billion), showing a robust 28.1% increase from 2023, although it remains 23% lower than the same period in 2019, which saw MOP246.9 billion ($30.8 billion).
Analysts from China International Capital Corporation (CICC) had forecasted a quarter-on-quarter rise of 4% and a year-on-year increase of 5% for the GGR. Notably, VIP baccarat revenue for Q3 2024 was nearly MOP13.08 billion ($1.64 billion), comprising 23.5% of the total GGR of around MOP55.6 billion ($6.95 billion).
Macau’s gambling sector
The high numbers in revenues show the thriving potential of gambling in Macau. In order to monitor the sector and better regulate the market, the new law to combat illegal gambling was officially approved on October 29. Moreover, from January 2024, Macau blocked 36,000 illegal gambling websites in its territory,
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.
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