Macau July Gaming Registers 5.1% GGR Rise

The latest figures released by the Gaming Inspection and Coordination Bureau shows the city’s casino gross gaming revenue (GGR) registering 5.1% month-on-month increase in July, reaching MOP18.60 billion (US$2.31 billion).

Compared to the same period in 2023, Macau’s gaming revenue witnessed an 11.6% improvement.

Macau’s gaming revenue for the first seven months of 2024 reached an impressive MOP132.35 billion, representing a 36.7% increase compared to the same period last year.

Notably, the cumulative GGR for the first seven months of 2024 accounts for 76.1% of the total GGR achieved during the same period in 2019, a year widely regarded as a benchmark for Macau’s gaming industry.

Industry analysts have attributed the July GGR surge to a confluence of factors, including the influx of visitors during the summer holiday season. JP Morgan Securities (Asia Pacific) Ltd noted that the GGR run-rate in the third week of July was “flattish” week-on-week at MOP635 million per day, significantly higher than the MOP550 million per day recorded in the first week of the month.

This uptick in demand, albeit not deemed “fantastic,” can be attributed to the summer holidays, which traditionally see an influx of tourists and gaming enthusiasts flocking to Macau. However, concerns regarding a crackdown on illegal foreign currency exchange gangs have cast a shadow over this otherwise positive development.