Macau Gambling Post Strong End To 2024

As the curtain fell on 2024, Macau’s gaming industry experienced an unexpected twist in its narrative. December, typically a robust month for casino revenues, witnessed a slight downturn, with gross gaming revenue (GGR) reaching MOP18.20 billion (US$2.27 billion). This figure represented a 1.3% decrease compared to November’s MOP18.44 billion and a 2.0% year-on-year decline—the sole month in 2024 to register a negative annual growth.

Industry analysts attribute this dip to a significant geopolitical event: the visit of China’s President Xi Jinping to Macau from 18th to 20th December. The presidential sojourn, commemorating the 25th anniversary of Macau’s return to Chinese administration, likely influenced gaming activities during this period.

Despite the slight contraction, December’s performance should be viewed through a broader lens. The month still achieved an 80% recovery rate compared to pre-pandemic levels, a testament to the sector’s resilience. This recovery rate aligns closely with the full-year figure of 77%, indicating a consistent trajectory of revival throughout 2024.

Interestingly, the final fortnight of December saw a notable uptick in daily gaming revenues. The average daily run rate for the last 16 days of the month climbed to approximately MOP603 million, marking a 4% increase from the MOP579 million recorded in the week of 9th December. This late surge suggests that the industry quickly rebounded following the presidential visit, ending the year on a more positive note than initially anticipated.

Looking beyond the December fluctuations, Macau’s gaming industry painted a picture of robust recovery in 2024. The annual GGR reached an impressive MOP226.78 billion, representing a substantial 23.9% year-on-year increase. This figure not only surpassed expectations but also signalled a strong rebound from the pandemic-induced slump of previous years.

Throughout 2024, Macau’s casinos demonstrated consistent growth, with December being the sole exception to the positive year-on-year trend. The 77% recovery rate achieved in 2024, when compared to pre-pandemic levels, is a significant milestone. It reflects the effectiveness of measures implemented by both the government and casino operators to revitalise the industry.