Macau recorded gross gaming revenue of $22.7 billion in 2023, representing a 334% year-on-year increase and marking a phenomenal recovery since borders reopened for the first time in almost three years in January.
The FY23 result comes on the back of a strong finish to the year, with December seeing GGR of $2.3 billion – up 433% year-on-year and 15.7% higher than November, making it the second highest revenue month of the year after October. It also means gaming revenues have rebounded back to 62.6% of 2019 levels, when GGR reached $36.3 billion.
However, the fact that FY23 has come in above MOP$180 billion is significant for the city’s concessionaires: as reported by Inside Asian Gaming, the new 10-year gaming concessions signed by all six operators in December 2022 included a stipulation that their non-gaming investment commitments will increase by 20% should Macau-wide GGR exceed MOP$180 billion in any of the first five years of the new concession period, meaning any year from 2023 to 2027 inclusive.
