Las Vegas and Macau have posted the regions' monthly revenue reports, showing that Macau outpaced Las Vegas by $760m.
The US gambling state has had a solid month, posting a 3% rise in revenue – totalling $1.16bn. Breaking down the revenue report, Clark County (where the Las Vegas Strip is located) accounted for $995m of the state’s overall figure.
Vegas’ slots revenue was up to $389.4m, representing an 8% rise. Furthermore, its total games revenue was up 1% to $235.2m, with blackjack accounting for the biggest increase at 6% ($74.1m).
Meanwhile, in the Chinese gambling hub of Macau, the region has recorded a 366% rise from May 2022. For May 2023, Macau posted revenue of MOP$15.5bn ($1.92bn).
Though the figures are rising quickly in Macau, the totals are still down on pre-pandemic levels. In 2019, Macau’s revenue stood at $36bn (an average of $3bn per month), while currently it is set to finish at circa or over $16bn for 2023.
Some of this decrease also comes down to the market share the Chinese gambling hub has lost to other regions, especially in the VIP segment, which has decreased from 66% to 41% – with many now heading to places such as Singapore, which has seen its VIP market share rise from 8% to 21%. This is something that was highlighted at this year’s G2E Asia, which Gambling Insider attended.
The graph above shows the difference in monthly revenue for both Vegas and Macau in 2023
The contrasting stories of the two world gambling hubs over the past three years come from the differences in how the US and Chinese Governments reacted to the Covid-19 pandemic.
In the US, Las Vegas’ casino venues were allowed to start having more people back on the premises when vaccines started to take an effect on the virus.
However, China’s policy of suppression (as opposed to the US’s living with the virus tactic) meant that Macau lost revenue and footfall for years, with lockdowns and unilateral bans severely affecting Macau’s ability to drive revenue.
