Macau's revenue in December 2023 increased by 433%year -on -year, and returned to 81.3%of the level before the crown disease.
According to Bloomberg, data released by Macau Gaming Supervision and Coordination Bureau on Monday (January 1) shows that Macau gaming revenue increased by 433%year -on -year in December to RMB 18.6 billion (about S $ 3 billion), More than 402%of the analysts' previous expected 402%, and restored to 81.3%of the level before the epidemic.
The annual gaming revenue of Macau in 2023 reached 183.1 billion Macau, 62.6%of the level before the epidemic.
Despite China's weak economy and decline in consumption capacity, the Macau gaming industry still maintains a strong development momentum.Morgan Stanley said in a report in December that consumption emotions are weak, and tourists are no longer keen to buy luxury goods. Instead, they choose to spend money on entertainment activities. The change of this consumption model has benefited the Macau casinos.
However, after cracking down on gamblers and capital outflows in China, the Macau gaming industry may take several years to fully recover.Analysts predict that by 2024, Macau gaming revenue will return to about 76%before the epidemic.
