Macau 2024 Casino Revenue to Make Up Nearly 80 Percent of 2019 Level – Rating Agency

December 11, 2023 | Reveue

MACAU, SAR (December 8, 2023) — Macau’s 2024 casino revenue has the potential to reach 79 per cent of the 2019 level in spite of lingering concerns over the economic headwinds the country is currently experiencing, the latest analysis by Fitch Ratings has suggested.

The ‘Macau News Agency’ reports Fitch Ratings estimate suggests that the figure would amount to approximately MOP231 billion (US$28.76 billion). Macau’s accumulated gaming revenue stood at MOP292.45 billion patacas in 2019, Gaming Inspection and Coordination Bureau records show.

In its global gaming outlook 2024, the credit rating agency emphasises that visitation to Macau continues to grow amid a weakening economy nationwide.

Meanwhile, the easing of stringent Covid-19 measures and a subsequent ongoing recovery in the airline industry led to a resurgence in mass market baccarat in the third quarter of 2023.

In comparison to the equivalent quarter of 2022 when it was at a mere 11 per cent of the 2019 level, mass market baccarat has now reached an 97 per cent of its pre-pandemic performance.

“Early 2024 comparisons will be favorable, while increasing visitation due to the return of air capacity to the Hong Kong and Macau airports should further drive growth,” the report pointed out.

The Macau News Agency reports the Macau Government, said it is projected that the local casino sector will achieve a gross gaming revenue of MOP216 billion in 2024.

The recovery is expected to contribute to a financial surplus for the city, reinstating its positive financial standing.

SOURCE: Macau News Agency.

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