The latest figure reflects the gaming bonanza brought about by October’s “golden week” holiday, when the city welcomed almost a million visitors.
Gaming Inspection and Coordination Bureau
Though economic headwinds remain, a better than expected recovery in the gaming and tourism sectors is proving a boon for government coffers.
Analysts have been concerned about the bottom-line impact of the severe weather experienced in the month by Macao, which was battered by a typhoon and heavy rain.
Analysts say the strong gross gaming revenue performance during the first nine days of July ‘bodes well for upcoming summer holidays.’
The month of June is traditionally a flat one for the territory, with Macao’s gaming concessionaires affected by a seasonal slowdown.
Analysts say Macao is capable of generating comfortably more gaming revenue than the government has targeted this year.
Although GGR is still down on pre-pandemic averages, some analysts are predicting that the gaming sector will recover fully as early as next year.
Officials say the move is not connected to the recent high-profile cases of disgraced junket operators Levo Chan and Alvin Chau.
According to the Gaming Inspection and Coordination Bureau, 84 percent of gross revenue earned from gaming in the first quarter of 2023 came from this one game.