The November report on gross gaming revenue (GGR) in Macau revealed significant growth, highlighting a year of ups and downs for the industry.
With an increase of 14.9%, November’s GGR reached MOP 18.4 billion (US$2.3 billion), while the year-to-date total reached an impressive MOP 208.6 billion.
These numbers represent a growth of 26.8% compared to the same 11-month period of the previous year, as released by the Gaming Inspection and Coordination Office (DICJ).
Drop in monthly gaming report in Macau
Despite the positive performance compared to the previous year, November showed a drop of 11.5% in monthly terms. November was at the lower end of monthly gains, surpassing only June and September, which recorded MOP 17.7 billion and MOP 17.3 billion, respectively.
October, on the other hand, stood out as the most profitable month of 2024, with revenue of MOP 20.8 billion. This increase was driven by the National Golden Week holiday in China, which traditionally attracts large numbers of tourists to Macau.
Observing growth throughout the year, a gradual slowdown can be seen. In the first months of 2024, January, February and March recorded significant growth of 67%, 79.1% and 53.1%, respectively.
However, as of June, growth did not exceed 20%. This pattern resulted in annual growth falling from a February peak of 72.7% to 26.8% in November.
Q3 Carrier Reports
Furthermore, during November, several Macau operators published their revenue reports for the third quarter. Therefore, these announcements reflected the growth of the region.
Galaxy Entertainment, for example, saw an 11% increase in its annual revenue, reaching HK$10.7 billion.
Similarly, Melco reported revenue of US$1.18 billion, representing a 16% growth, while Studio City‘s revenue reached US$335.5 million, an increase of 26.8%.
This data indicates a continued recovery in Macau’s gaming sector despite monthly fluctuations.
