Macau’s Gaming Revenue Surges to $ 2.29B in February
Kate Marshal
04 March 2024
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Macau’s gaming industry reported a significant increase in gross gaming revenue (GGR*) for February, with a total of 18.5 billion patacas ($2.29 billion), a 79.1% rise compared to the same month last year.
Despite this impressive year-on-year growth, the GGR for February showed a modest decline of 4.4% from January.
This decrease came as a surprise, especially considering the influx of tourists during the Lunar New Year holiday.
Analysts from JP Morgan Securities observed that the market’s high expectations were not fully met, as the GGR after February 17 did not sustain the anticipated demand.
“February casino win came in a tad lighter than the consensus of MOP 19 billion to MOP 20 billion”, said JP Morgan Securities Asia analysts DS Kim, Mufan Shi, and Selina Li.
With the February performance included, Macau’s total revenue for the first two months of 2024 amounted to $4.69 billion, which is a substantial 72.7% increase from the previous period in 2023.
* GGR is a financial metric used to measure gross earnings, calculated by subtracting total winnings from total bets.
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