Macau’s casino revenues reached 226.8 billion patacas ($28.35 billion) in 2024, a 23.9% increase from the previous year, according to data published by the Gaming Inspection and Coordination Bureau. However, this still falls short of pre-pandemic levels, which stood at 292.5 billion patacas in 2019.
The revenue growth is attributed to a strong recovery in the gaming industry, despite the ongoing impact of China’s long-term anti-corruption drive on high-roller VIP sector revenues. The pandemic years saw strict travel restrictions sharply curtail visits from mainland tourists, further depressing gaming revenues.
However, Macau’s economy remains heavily reliant on casinos, which contribute about 80% of tax revenues. To diversify its economy and boost global competitiveness, the government is exploring increased economic integration with the Greater Bay Area and promoting cooperation with Portuguese-speaking countries, as urged by Chinese President Xi Jinping during his recent visit to Macau.
Xi emphasized the need for Macau to have the “courage” to diversify its economy, establishing new industries and connecting better with mainland national developing strategies. This includes participating in Beijing’s Belt and Road Initiative, an ambitious infrastructure plan aimed at boosting trade between China and the rest of the world.
Source: https://www.reuters.com/business/macau-2024-casino-revenues-top-official-estimate-below-pre-pandemic-levels-2025-01-01