Macau Casino Industry Sees Record October GGR Amid Tourism Surge

In October 2024, Macau’s on line casino trade showcased outstanding resilience and development, reaching a gross gaming income (GGR) of roughly MOP20.7 billion ($2.6 billion). This determine represents a big 6.6% enhance in comparison with the identical month the earlier yr, and a 20.4% rise from September’s figures, underscoring a strong restoration trajectory. These statistics, supplied by the Gaming Inspection and Coordination Bureau (DICJ), spotlight October’s standing as essentially the most profitable month of the yr, largely fueled by the inflow of vacationers through the Nationwide Day Golden Week.

A record-breaking month:

The full GGR for the primary ten months of 2024 stood impressively at MOP190.1 billion ($23.7 billion), marking a 28.1% enhance year-over-year. Regardless of this sturdy efficiency, it stays 23% under the identical interval in 2019, earlier than the pandemic’s impression, which underscores the continued restoration efforts and the potential for additional development because the trade stabilizes.

Throughout October, notably through the Golden Week vacation from October 1 to 7, Macau skilled a important surge in tourism. The DICJ famous that town welcomed 993,117 guests, an uptick of 1.9% over 2019’s figures, with lodge occupancy charges peaking at 98.5% through the third and 4th of October, as reported by Inside Asian Gaming. This era noticed a record-breaking efficiency, setting a brand new post-pandemic excessive and signaling a constructive outlook for the trade. The enhance in customer numbers throughout this key vacation interval contributed markedly to the month’s excessive income figures, reflecting the efficient alignment of Macau’s tourism and on line casino methods.

Funding analysts from China Worldwide Capital Company (CICC) and its Hong Kong Securities Ltd department have indicated a powerful begin to the fourth quarter, projecting additional development. They attribute this optimism to resilient demand and the return of premium patrons, suggesting a 4% sequential enhance in GGR for the ultimate quarter of 2024. Their evaluation factors to sustained curiosity and engagement from each informal and high-stakes gamblers, which might pave the best way for record-breaking income figures within the upcoming months.

The corporate said: “We predict the outperformance within the first two weeks of October might point out resilient demand and the return of premium patrons heading into the remainder of the yr.” 

VIP baccarat and future projections:

Moreover, Macau’s VIP baccarat income, which represents a considerable portion of whole GGR, stood at almost MOP13.08 billion ($1.64 billion) for the third quarter alone. This accounts for 23.5% of the full GGR, emphasizing the high-stakes nature of the market. The constant efficiency of VIP baccarat underscores the continued attraction of Macau as a premier vacation spot for elite gamblers, which is essential for the general income stream of town’s on line casino sector.

Wanting forward, Macau’s tourism authorities anticipate the yr to shut with roughly 33 million guests, a 17% enhance from 2023. This projection is supported by the Chinese language authorities’s growth of the Particular person Go to Scheme (IVS), including 10 extra cities to this system, which is more likely to additional enhance customer numbers and, by extension, gaming revenues. These strategic expansions are anticipated to strengthen Macau’s place as a number one world gaming and tourism hub, capitalizing on its popularity and enhanced accessibility.