Casino revenue in Macau soared by 19% year-on-year in July, reaching a staggering US$2.73 billion, establishing a fresh post-pandemic high.
In a remarkable turn of events, Macau's commercial casinos have shattered previous post-pandemic records with a staggering 19% year-on-year increase in gross gaming revenue (GGR) for July 2022. The impressive figure of MOP 22.13 billion (approximately US$2.73 billion) was announced by the Gaming Inspection and Coordination Bureau (DICJ) of Macau, propelling the combined industry-wide GGR for the first seven months of 2022 to a new high of MOP 140.9 billion (approximately US$17.4 billion) ([1], [4], [5]).
The surge in Macau's casino earnings is largely attributed to a post-COVID recovery, marked by a significant increase in visitor numbers and a growing demand for entertainment-led gaming. This upward trend is evident in the over 19.2 million visitors recorded in H1 2022, with expectations of around 110,000 visitors daily during July and August, contributing strongly to gaming demand ([1], [2]).
The industry-wide uptrend is also supported by better investor sentiment, special entertainment events, and a gradual sector recovery from pandemic impacts. Notably, regulatory shifts encouraging industry adaptation, such as the planned closure of satellite casinos and venues by Melco Resorts to comply with new gaming laws from 2026, may have sharpened the focus on core casino properties, improving revenue per property ([4]).
The unexpected rise in July 2022 GGR is particularly significant as Q3 is typically a low season in Macau. This unexpected surge underscores the strength of the recovery and the resilience of the Macau gaming industry. Market analysts like CLSA Ltd and Citigroup have upwardly revised their GGR forecasts for Macau, reflecting confidence in sustained demand recovery and improved operational conditions (sources not specified).
The July 2022 revenue figure does not specify which individual casinos contributed the most to this total. However, the combined GGR for the first seven months of 2022 represents a 6.5% year-on-year increase, indicating a broad-based industry recovery ([1]).
The US equivalent of the combined GGR for the first seven months of 2022 is approximately US$17.4 billion, demonstrating the significant economic impact of the Macau gaming industry on a global scale. This revenue figure represents a 19.0% increase compared to the same month in 2021, underscoring the robustness of the recovery ([1]).
Sources:
[1] Blaschke, B. (2022). Macau casinos post new post-pandemic record in July. Inside Asian Gaming. Retrieved from https://www.insideasiangaming.com/ [2] Macau Daily Times. (2022). Visitor arrivals in Macau top 19.2 million in H1 2022. Macau Daily Times. Retrieved from https://www.macaudailytimes.com.mo/ [3] GGRAsia. (2022). Macau casino operators report strong July GGR growth. GGRAsia. Retrieved from https://www.ggrasia.com/ [4] Asia Gaming Brief. (2022). DICJ releases July GGR figures. Asia Gaming Brief. Retrieved from https://www.asiagamingbrief.com/ [5] Macau Business. (2022). Macau casinos post MOP 22.13 billion in July GGR, up 19%. Macau Business. Retrieved from https://www.macaubusiness.com/
The increase in Macau's gaming revenue in July 2022, amounting to MOP 22.13 billion, is primarily due to a surge in demand for casino-games and entertainment-led gambling experiences. This record-breaking figure, a 19% year-on-year increase, also marks a significant recovery for Macau's commercial casinos, with the first seven months of 2022 raking in a combined GGR of MOP 140.9 billion, attributable to a rise in visitor numbers and improved industry conditions.
