Macau Casinos Enjoy Best Month Since Pandemic, October Win Tops $2.4B

In October, Macau casinos experient their topper month since the COVID-19 pandemic, as gross gaming revenue (GGR) reached MOP19.5 one million million (US$2.42 billion).

The October win is the topper monthly cart since Jan 2020, when the half a dozen casino operators won $2.75 billion. With the coronavirus originating inward China, the pandemic began impacting Macau’s gaming industry inwards Feb 2020.

Macau casinos won at to the lowest degree MOP10 1000000000 just now once from Feb 2020 through and through 2022. But after China President Xi Jinping ended his controversial “zero-COVID” insurance policy belatedly in conclusion year, Macau’s pandemic recovery was eventually initiated.

Macau GGR through 10 months of 2023 stands at $18.4 billion, which is 316% higher than finally year. The 2023 casino win is also 106% better than the same 10 months inward 2021 and 224% better than 2020.

However, the $18.4 1000000000000 gaming win incurred from January through Oct 2023 remains 40% at a lower place what the half dozen casinos collected during the 10 months inward pre-pandemic 2019.

Rally Rolls On

Macau’s public presentation inwards Oct indicates that the industry is moving positively. Oct 2023 was a 400% year-over-year surge.

Gaming analysts focussed on the Chinese gaming enclave believe mass-market frolic has to the full recovered to its pre-COVID levels. Oct benefited from a strong Golden Week, which ran from Sep 29 through and through Oct 6. The holiday full stop affords to the highest degree mainland workers a week of paid time off.

October 1 commemorates the validation of the People’s Republic. The holiday is referred to as National Day inwards China. Sir Thomas More than 932K people visited the Special Administrative Region (SAR) during the seven-day holiday.

Analysts at Citigroup and elsewhere projected October GGR to amount inward around MOP19 billion, meaning the market slightly crush expectations.

Market Changes

As of Aug. 30, 2023, PRC no longer has traveling restrictions on its citizens or foreigners.

International travelers doh have got to complete a Customs Health Declaration descriptor affirming they don’t trust they make COVID-19 or get been told they haven’t been in tightlipped law of proximity of anyone who does before entering. But testing requirements are no more more.

While Macau casinos won almost $3.3 one million million in Oct 2019 and $3.4 1000000000 in October 2018, the market today is considerably different because of fewer junket groups. VIP trip out organizers have got mostly departed Macau after Alvin Chau, the human face of the junket business in Macau, was arrested inward Nov 2021 and charged with numerous crimes.

Chau was found guilty of fraud, illegal gambling, and felon association, and in January, was sentenced to 18 years inward prison. Prosecutors successfully argued that Chau’s Suncity Group ran illegal marketing campaigns and face play operations that cost the local authorities $1 1000000000 inwards missed task revenue from 2013 to 2021.

The Macau SAR Government issued its full-year 2024 GGR forecast on Tuesday, with the expectation of MOP216 one thousand million ($26.8 billion). The outlook adjusts to the ever-changing market, as Macau casinos inward 2013 won a book $45 billion. It was after that twelvemonth that Xi instructed his regime to commence cracking pile on the money front from the mainland to Macau via high-pitched roll junket groups.

Get ready to experience the ultimate in online casino gaming with XE88 - one of the most popular and trusted platforms in Malaysia. Join now and start winning big with XE88! Featuring a vast selection of games, frequent promotions, and a user-friendly interface, XE88 delivers a thrilling and rewarding gaming environment that keeps players engaged and entertained.