written and last updated by
Sam Smith at
10 Sep 2024
Journalist, Editorial Department
The Macao Statistics and Census Service (DSEC) has released financial data for the city's gaming industry for the year 2023. Compared to 2022, total revenue surged by 308.1% to 188.52 billion patacas (approximately $2.15 trillion rubles).
This dramatic increase reflects a robust recovery in the sector, driven by the resumption of tourism activities and the easing of COVID-19-related restrictions. The largest share of total revenue came from gambling, which accounted for 183.6 billion patacas (around $2.09 trillion rubles), marking a staggering 335.9% increase from 2022. This figure also represents 63% of the revenue levels recorded in the pre-pandemic year of 2019.
Total expenses in the gaming sector, excluding taxes, rose by 98.6% to 80.06 billion patacas (approximately $912.7 billion rubles), further illustrating the industry's recovery post-COVID-19.
Expenditures related to complimentary services provided to customers skyrocketed by 365.1% to 19.51 billion patacas (about $222.4 billion rubles). These services include hotel accommodations and dining. The most significant growth was seen in commissions, customer discounts, and product purchases, which increased by 386.4% to 18.12 billion patacas (around $206.6 billion rubles). Additionally, gaming companies spent 2.09 billion patacas (approximately $23.8 billion rubles) on advertising and market research, a rise of 232.2% compared to 2022.
The gross value added by the sector grew by 345.8%, reaching 135.37 billion patacas (about $1.54 trillion rubles). Gross value added (GVA) is a measure that represents the difference between the value of goods and services produced and the costs incurred in their production.
The total compensation for workers in the industry amounted to 20.17 billion patacas (nearly $230 billion rubles), which is 7.2% higher than in 2022.
Meanwhile, Macao's casino revenue for August 2024 reached 19.75 billion patacas, exceeding analysts' expectations.
