Gambling revenue in Macau increased by 492 per cent year-on-year in May, as the world’s largest casino hub continued to rebound from damage dealt by the COVID pandemic.
The city experienced a major uptick in visitors from its main market, China, following an easing of travel restrictions.
Compared to the month previously, Gross Gaming Revenue rose by 24.3 per cent in the month, to reach nearly MOP10.45 billion (€1.07 billion), according to the city’s casino regulator, the Gaming Inspection and Coordination Bureau (DICJ).
It represents a promising recovery from the situation recorded in May 2020, when countermeasures to prevent the spread of COVID in the city decimated the gambling industry.
Year to data, aggregate casino Gross Gaming Revenue reached MOP42.49 billion (€4.36 billion), 28.7 per cent up from the same figure recorded in the same period last year.
Gross revenue for May was the highest monthly figure since the start of the pandemic, as the result coincided with a five-day holiday period in mainland China at the start of the month.
Macau, officially known as Macao Special Administrative Region, is one of the world’s largest gambling jurisdictions.
In 2019, according to official statistics, the Gaming & Junket Activities sector was revealed to have contributed 50.9 per cent of the the city’s GDP.
He has held senior positions in a range of renowned iGaming companies, including Evolution Gaming, Tain, NYX, and SG Digital
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Andrew, an accountant by profession and a certified public accountant, has a wealth of experience in the accounting field within the financial services and construction sectors