Macau Enjoys Strong 2023 GGR Results of over 300% YoY
LISTEN TO THIS ARTICLE:Macau has enjoyed strong figures for 2023, seeing the gross gaming revenue (GGR) for the region achieve a total of MOP$183.1 billion (US$22.7 billion) for the 12-month period. These revenue figures mark a healthy return to the sort of earnings the region has seen since coming out of pandemic restrictions.
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This GGR figure of more than MOP$180 billion for the year translates to an increase of 334% in a year-on-year comparison since the borders were reopened in January last year. The full-year results show that Macau has seen revenue for the region return to more than 60% of the figures that it enjoyed prior to the pandemic in 2019.
Strong Finish to the Year
Some of the strongest monthly figures for Macau came towards the end of 2023, with December showing a GGR of MOP$18.57 billion, a rise of 15.7% on the previous month. Only the earnings in the October period were better than the revenues achieved in the final two months of 2023.
Operators Reach Level for Non-Gaming Investment
As part of the new ten-year gaming concession signed by the six gaming operators in Macau, at the start of 2023, the casino agreed to make significant non-gaming investments in the region if a certain level of GGR was achieved.
Under the terms of the agreement, the GGR achieved by the operators surpassed the stipulated figure of MOP$180 billion, which means the operators have agreed to increase their investment in the Macau jurisdiction by an additional 20% of the underlying commitment.
The total investment into the region pledged by the gaming operators in the original concession deal is a combined figure of MOP$108.7 billion to be spent on non-gaming commitments.
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