Macau June Casino Winnings Hit Eight-Month Low
Macau has published its gambling figures for June, revealing the lowest monthly intake since November 2022.
Although June is considered the quietest month for Macau's gaming industry, the record decline came unexpected.
LISTEN TO THIS ARTICLE:In June, the casino operators in the jurisdiction reported a combined revenue of MOP17.69 billion ($2.20bn). While the figure is an increase of 16.4% year-on-year compared to MOP15.21 billion in the same month in 2024, it marks the lowest growth rate the region has seen in 2024.
Additionally, June's revenue fell short of May's total by 14.1%, dropping to MOP17.69bn from MOP20.19bn. Notably, May's figure was the highest monthly total since the pre-pandemic era. The impressive figures in the month were boosted by the Labour Day Golden Week holiday, which typically led to a significant surge in visitor numbers.
While analysts generally consider June the quietest month for Macau's gaming industry, the record decline was not anticipated. They had projected that revenue would increase by at least 17.5% in the month.
Year-to-date, Macau's cumulative revenue reached MOP113.75 billion, marking a 41.9% increase compared to MOP80.14 billion in the same period in 2023.
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Macau Operators Post High Q1 Growth
While specific operator revenues for the month were not released, Q1 results previously disclosed by the region's casinos indicated strong growth.
For instance, Las Vegas Sands announced a robust first quarter, with revenue surging 39.6% to $2.96 billion. The company's Macau operations drove this growth, generating $1.81 billion in revenue, a 41.6% increase from the same period last year.
SJM Holdings achieved a 73% revenue increase to HK$6.90 billion in Q1. Melco Resorts & Entertainment also posted a 55.2% revenue boost to $1.11 billion. While all Melco properties experienced growth, City of Dreams led the way with $550.9 million in revenue.
Similarly, MGM Resorts International achieved a historic high in China revenue, amounting to $1.06 billion in Q1, while its overall group revenue soared 13.2% to $4.83 billion.
Wynn Resorts also aligned with the trend with a 30.8% increase in Q1 revenue to $1.86 billion. The operator attributed the growth to its stellar performance in Macau, accounting for $998.6 million, or 53.6% of its total revenue for the quarter.
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