Macau February Revenues Pass $2.2 Billion
Macau February Revenues Pass $2.2 Billion
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Macau, saw Gross gaming revenue (GGR) reached an impressive US$2.29 billion for February, a whopping 79.1% increase compared to the same period last year. However, despite this huge rise, February’s GGR was down 4.4% from January.
In February, Macau’s GGR rose to MOP18.49 billion (US$2.29 billion), reflecting a substantial YoY growth. The city’s Gaming Inspection and Coordination Bureau released this data, which highlighted the remarkable success of Macau’s casino industry. However, it’s important to note that the GGR for February declined by 4.4% when compared to the previous month.
Although the GGR declined in February, the Chinese New Year holiday period, which lasted from February 10 to 17, saw a strong performance in Macau’s casinos. Investment analysts from JP Morgan Securities (Asia Pacific) Ltd noted that daily GGR during the peak lunar new year holidays surpassed MOP1 billion (US$124 million) for the first time in over four years.
JP Morgan Securities also compared Macau’s GGR during the Chinese New Year holidays to the revenue generated during last year’s Golden Week in October. The data revealed that Macau’s gaming industry outperformed the previous year’s figures, with daily GGR reaching above MOP900 million (US$111 million).
When looking at the overall performance of Macau’s gaming industry in the first two months of 2024, the figures are encouraging. The GGR for this period reached nearly MOP37.82 billion (US$4.69 billion), indicating a year-on-year growth of 72.7%.
