Macau’s Gaming Inspection and Coordination Bureau has just revealed the latest gaming revenue numbers for October 2023, and it’s quite impressive. The region collected a staggering MOP$19.5bn ($1.99bn) in monthly gross income, marking a 30% increase from the previous month.

This is also the highest monthly gross income the gambling market has seen all year, highlighting the significance of October for Macau. When we look back at the past five years, we see some interesting trends in gambling revenue.

In 2019, October’s revenue reached MOP26.4bn, and while 2023’s number falls short of that, it’s a positive sign as it approaches the pre-Covid levels. However, the impact of the Covid-19 pandemic cannot be ignored, as it caused significant restrictions on Macau’s gambling earnings.

While October didn’t see the highest change in income compared to the same time last year, that record goes to July, which experienced a phenomenal 4000% increase in monthly gross income from July 2022 to July 2023.

As the numbers steadily grow each month, going from MOP$11.58bn in January to MOP$15.2bn in June, and now to MOP$19.5bn in October, the question of whether Macau’s gambling market will fully recover from the impact of Covid-19 becomes more relevant.

There is still room for growth and recovery, and for Macau’s October 2023 revenue to match that of October 2019, there needs to be a monthly gross income increase of over 35%. Given the impressive 400% increase in gaming revenue from the same time last year, achieving this additional growth seems attainable.

Hubert Wang, the President & COO of MGM China, emphasized that the increased profitability of the mass market is reducing the need to reach past revenue levels. It’s an encouraging sign for the future of Macau’s gambling industry.

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