Macau's gambling revenue reached 18.4 billion patacas (US$2.3 billion) in November 2024, achieving 80.4% of its prepandemic performance from November 2019. This marks a 14.9% year-over-year increase, exceeding analyst expectations of 13% growth.

The November figure follows October's impressive $2.6 billion, which was the highest since January 2020. While November showed an expected 11.5% month-to-month decline due to fewer mainland holidays, the addition of an extra weekend day helped boost overall performance.

Year-to-date gambling revenue stands at $26 billion, representing a 26.8% increase from 2023 and reaching 77% of 2019's pre-pandemic levels. Analysts project December revenue to hit approximately $2.45 billion, or 86% of December 2019 levels.

Recent developments signal positive changes for Macau's gaming industry:

• Beginning January 2025, Hengqin residents will have unlimited access to Macau
• Zhuhai residents will be permitted weekly visits
• China continues providing stimulus payments to boost the economy

However, Macau is actively working to reduce its casino tax dependency under incoming chief executive Sam Hou Fai, who takes office December 20. This aligns with Beijing's directive to diversify the region's economy and reduce reliance on VIP junket operators, as evidenced by the recent crackdown that led to Alvin Chau's 18-year imprisonment.

Despite these regulatory changes, strong resort traffic and improving revenue numbers indicate Macau's gaming industry continues its steady recovery toward pre-pandemic levels.

Related Articles

Previous Articles