November gaming gross revenue in Macau was MOP$16bn (US$2bn), according to monthly statistics from The Gaming Inspection and Coordination Bureau of Macau.
While this amount reflects a decrease of 17.7% from October's reported gross revenue of MOP$19.5bn, the report reflects a higher percentile increase from last month in terms of year-on-year growth, with gross revenue up 435% from November 2022.
November's gross revenue is the fourth-highest this year so far, behind July, August and October, of which last month was the highest revenue earner of the year so far.
When compared to the last four months of this and last year, it seems growth in Macau has begun to stabilise but remains on its continued growth trajectory. The last three months saw growth of around 400% to 435%, whereas growth between January and August varied from 33% to over 4,000%.
Accumulated gross revenue showed similar growth to gross revenue, up 324% from this time last year. In November 2023, this meant an accumulated gross revenue of MOP$164.5bn for the year so far.
When comparing this amount to pre-Covid levels, it is clear there is still growth needed to match or succeed previous figures. In November 2019, accumulated gross revenue was MOP$269.6bn and in November 2018 it was MOP$276.4bn.
Compare this to the same figures from 2020 and 2021, which were MOP$52.6bn and MOP$78.9bn respectively.
If the growth seen this year continues into 2024, it is possible we will see Macau’s monthly gambling revenue return to pre-Covid levels. However, it is challenging to give such a recovery a timeframe.
