Macau Casinos Report $22.7B in Winnings for 2023, Sparks Growth in Nongaming Revenue

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.

Macau casinos gross gaming revenue
Macau casino revenue initiated its pandemic recovery in 2023, as gross gaming revenue surged 334% from 2022 to $22.7 billion. The yearly haul, however, requires the six casino permit holders to further increase their non-gaming spending by almost $4.5 billion by 2033. (Image: The Macau News)

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.

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