The source said the Game Inspection and Coordination Bureau (DICJ) informed the Macau gambling industry that sales figures achieved in May 2023 were 366% higher than the May 2022 record when the region’s GGR was only $3.34 billion ($414 million).
Sales growth trends:
However, revenue levels reached in May were also 5.7% higher than industry performance since April 2023, when the Macau operator generated a total revenue of $14.72 ($1.82 billion), achieving record GGR levels since January 2020. Therefore, the May figure represents a continuation of the month-on-month revenue growth trend and sets the highest revenue figure so far in 2023.
At the same time, the figure contributed significantly to Macau’s GGR, compiled in the first five months of 2023, rising 173% year-over-year to $64.93 billion ($8.05 billion), according to Inside Asian Gaming.
The industry’s strong performance in May is also an extension of the Macau casino industry’s best first quarter over the past three years, with revenue levels in April and May proving stronger for the second quarter of 2023. The region reopened its gaming facilities on January 8, 2023, after being heavily affected by the COVID-19 pandemic and related regulations, and sales figures in January 2023 have already nearly doubled, continuing to grow to 366% year-over-year levels seen in May 2023.
Crowded Arrivals:
Immigrants from mainland China, Hong Kong and abroad have been tremendously supportive of growth since Jan. 8, 2023, and in May, the region reportedly attracted nearly half a million visitors and recorded an 85% increase in hotel guests.
Stock Volatility:
However, Macau casino stocks have been experiencing constant volatility on the Hong Kong stock exchange recently, despite their strength, according to GGRASIA. In a conference session for the Global Game Expo (G2E) Asia 2023 Special Edition, Angela Hanley, an analyst at Bloomberg Intelligence, told the source that Macau game revenue is beating forecasts every month.
Referring to Macau operator stock prices, she reportedly said investors were “not getting compensation at all.” According to Hanlee, the underlying factors behind the current stock price rise are not leading much.