Macau’s on line casino income amounted to MOP17.69 billion (£1.74 billion/€2.04 billion/$2.21 billion) in June 2024, marking the bottom month-to-month complete since November 2023. This determine represents a 16.4% improve from MOP15.21 billion in June 2023, 14.1% decrease than the MOP20.19 billion reported in May 2024.
June’s Performance Analysis
June’s income drop comes after May 2024 reported the very best month-to-month complete because the pre-pandemic interval, buoyed by the Labour Day Golden Week vacation, which usually drives up visitation. Despite analysts predicting a year-on-year improve of at the very least 17.5%, June historically stays the weakest month for gaming in Macau.
Due to strict journey restrictions, COVID-19 considerably impacted Macau’s gaming income all through the pandemic. However, since these measures had been lifted in January 2023, the market has been recovering, displaying common double-digit month-to-month progress.
Year-to-Date Performance
For the primary half of 2024, Macau’s complete on line casino income reached MOP113.75 billion, a 41.9% improve from the MOP80.14 billion recorded throughout the identical interval in 2023. However, that is nonetheless 23.9% decrease than the MOP149.50 billion reported for the primary half of 2019, earlier than the pandemic.
June’s income was influenced by a number of components and the month included just one public vacation, the Dragon Boat Festival on June tenth. Additionally, funding banks attribute the income decline to the Euro 2024 soccer matches and typical seasonal developments, which possible diverted some consideration away from the casinos.
Performance of Major Casino Operators
Later this month, main on line casino operators in Macau will report their first half-year outcomes, that are anticipated to present strong progress based mostly on sturdy Q1 performances.
- Las Vegas Sands: Reported a 39.6% improve in income to $2.96 billion in Q1 2024, with $1.81 billion from Macau operations, up 41.6% year-on-year.
- SJM Holdings: Exclusive to the Macau market, noticed a 73.0% rise in Q1 income to HK$6.90 billion.
- Melco Resorts & Entertainment: Reported a 55.2% improve in Q1 income to $1.11 billion, with City of Dreams being the highest performer at $550.9 million.
- MGM Resorts International: Recorded an all-time excessive in China income at $1.06 billion in Q1 2024, contributing to a 13.2% improve in complete group income to $4.83 billion.
- Wynn Resorts: Posted a 30.8% rise in Q1 income to $1.86 billion, pushed by $998.6 million from Macau operations, accounting for 53.6% of the group’s complete.
Macau’s June playing income highlights the continuing challenges and volatility within the area’s gaming market regardless of general progress and restoration because the lifting of COVID-19 restrictions. As main operators put together to launch their H1 outcomes, the business stays optimistic about continued restoration and progress within the latter half of the yr.
Source:
Macau’s June GGR reaches $2.21B, down 12.4% m-o-m, agbrief.com, July 1, 2024.
