Published on: January 1, 2024, 09:59h.
Last updated on: January 1, 2024, 09:59h.
The Macau casino industry ended 2023 on a high note, surpassing analyst expectations with December casino wins. The region’s gaming revenue surged in 2023 after three challenging years of the pandemic, leading to a strong recovery. On the other hand, the industry presented new challenges following the prosecution and arrest of a respected figure in the gaming world.
The December gaming income significantly impacted the annual results, with a 334% year-over-year surge and a 111% increase compared to 2021, amounting to MOP183 billion (US$22.7 billion). The industry’s recovery, however, is still a work in progress, as casinos only recovered 62.6% of the pre-pandemic money won in 2019. The industry is evolving and adapting to meet new demands, especially after a key industry organized faced legal issues.
Despite the challenges, the gaming industry received new 10-year licenses, with added requirements to invest more in non-gaming projects. The updated deal aimed to diversify and stimulate new economic opportunities in the region, especially in light of additional regulation requirements.