Macau has just announced its revenue report for March 2024. Based on the document, gross income for the last month was at MOP$19.5bn (US$2.43bn) level, a massive grow of 53% from the year before and a 5.5% surge from February this year.
This is not all from Macau as they also disclosed the numbers related to cumulative gross revenue for the first three months of the current year. Figures show that the amount stands at MOP$57.3bn, an optimistic change of 65.5% when comparing to numbers from 2023.
The reason for such an impressive result of jurisdiction is completely clear. Macau records such numbers thanks to flourishing tourism across its territory and the future of the gaming sector looks even more promising.
It is worth noting that the county hasn’t unveiled the statistics for March, but figures for February finally show that visitors are coming back at the normal level after several years of break and due to different reasons. This put the country to be at pre-Covid number when it comes to total visitors and such achievement is a reason to be even more optimistic about future happenings.
More Details on February Results and Figures
The report published by Macau further depicts an overall number of 3,293,564 visitors, another improvement compared to the month before (15%) and a 107% soar from the same timeframe in 2023.
This number of visitors is a record for the last several years, with the higher number registered only in August 2019.
Delving deeper into this figure, we can also mention that 1,867,660 of visitors have only one day stay, which is another highlight for the market and huge improvement compared to the February 2024.
As for the hotels across in Macau, there was an approximate occupancy rate of 85.6%, a level that is not still reaching the mark of 90%+ in 2019, but the trend will probably continue bringing even more people there.
Even if there is no face-to-face competition between two jurisdictions, Macau is usually contrasted to Las Vegas. This is a perfect chance to compare figures for both markets and see which is one of more attractive for gaming enthusiasts.
According to the most recent report coming from Vegas, the Strip marked a revenue of US$800.7m last month. On the other hand, the state of Nevada made $1.34bn in gaming revenue in February. This puts Macau close to Nevada when it comes to total revenues, but soon the country can overcome these numbers.
Source:
“Macau releases March 2024 gaming figures: Revenue up 53% to US$2.42bn”, gamblinginsider.com, April 1, 2024.
