Macau's Gaming Revenue Reaches MOP19.75 Billion in August, Surpassing Analyst Expectations

Macau’s gross gaming revenue (GGR) for August 2024 amounted to MOP19.75 billion ($2.46 billion), reflecting a significant 14.8 percent increase compared to the same month last year, when the figure stood at MOP17.21 billion ($2.14 billion). This data, released by the Gaming Inspection and Coordination Bureau (DICJ), also shows that August's GGR marked a 6.2 percent rise from July.

Despite these gains, the August 2024 total still represents an 18.6 percent decrease from the MOP24.26 billion ($3.02 billion) reported in August 2019, before the COVID-19 pandemic severely impacted the gaming industry.

Over the first eight months of 2024, Macau's casino GGR has reached MOP152.10 billion ($19.92 billion). This figure is up 33.4 percent from the previous year but remains 23.3 percent lower than the same period in 2019, which saw a GGR of MOP198.22 billion ($24.66 billion).

Macau’s GGR results for August exceeded the expectations of Morgan Stanley analysts by 5.23 percentage points. At the start of August, these analysts had forecasted that Macau’s August 2024 GGR would reach MOP18.8 billion ($2.35 billion), representing a modest 1% month-over-month increase. The year-on-year performance also surpassed predictions, with a difference of 5.76 percentage points compared to the 9% increase anticipated by the investment banking firm. By fLEXI tEAM