Macau's gross gaming revenue reached a record high of 19.5 billion patacas in October
According to the latest data, the total GGR from January to October 2023 amounted to 148.44 billion patacas (around 1.7 trillion rubles), reflecting an annual growth of 315.6%. This figure also surpasses the combined total for the financial years 2021-2022 by nearly 20 billion patacas (232.5 billion rubles).
Casino operators have expressed optimism regarding revenue growth in the fourth quarter, buoyed by the strong performance in October. The strategy of focusing on the mass market rather than VIP players is proving to be effective.
Last November, the Macau government estimated the GGR for 2023 at 130 billion patacas (approximately 1.5 trillion rubles). As of October this year, the GGR has already met this target. Given the impressive results, Macau authorities have raised their GGR forecast for 2024. According to the latest government budget plan, the GGR is expected to reach 210 billion patacas (2.44 trillion rubles).
Investment bank Citigroup recently projected that Macau's gaming revenue for the entire year could reach 181.5 billion patacas (2.1 trillion rubles), which would be 62% of the pre-pandemic level in 2019. Meanwhile, the city welcomed nearly 20 million visitors in the first three quarters of 2023, with authorities anticipating a total of 24 million tourists by the end of the year.
In related news, Pragmatic Play and iGaming operator Betmais have announced a partnership in Brazil.
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