Casinos in Macau generated a total of MOP20.19bn (PS1.97bn/EUR2.31bn/$2.51bn) in revenue during May, the highest monthly total since the end of the Covid-19 pandemic.
This May’s total exceeded the MOP 19,50bn post-pandemic Macau high. The first time this was achieved in 2023, and then again in March of 2019.
The revenue was 8.8% higher in May than in April, when MOP18.55bn had been generated.
Macau’s revenue in May is the highest it has been since January 2020, when the Pandemic began. Before the Covid-19 outbreak, Macau’s monthly revenues would comfortably and regularly exceed MOP20.00bn.
The region was affected by Covid-19 measures and restrictions for many years during the Pandemic. Since these restrictions were removed completely in January 2023, there has been a significant market recovery with double-digit revenue growth every month.
Macau’s performance year to date is also a clear indication of this. The five-month period ending in May saw revenue of MOP96.06bn – a 47.9% increase from the previous year.
Macau’s recovery boosts casino land-based giants
Macau’s recovery continues, and some of its leading casinos have also reported growth.
SJM Holdings is the latest to make this move. It focuses on Macau. During the first quarter of this year, SJM reported HK$6.690bn revenue for the three-month period ending 31 March. This is up 73.0% from last year.
The revenue from Grand Lisboa Palace in Macau and Grand Lisboa Hotel in Macau grew almost HK$1bn each to HK$1.4bn HK$2.0bn. The adjusted EBITDA for Q1 of 2024 reached HK$864m compared to just HK$31m the previous period.
Other major players in the industry reported revenue trends similar to Q1. Las Vegas Sands saw its revenue increase 39.6% in Q1 to US$2.96 billion. Revenues from operations in the region increased by 41.6% to $1.81bn.
Melco Resorts & Entertainment also reported a revenue increase of 55.2% on an annual basis, to $1.11bn. Melco reported that each of their Macau properties experienced growth. The City of Dreams venue, Macau’s most profitable property with $550.9m revenue, was the best.
MGM Resorts International also reported record revenue for the first quarter of 2011 in China. The group revenue increased by 13.2%, reaching a new high of $4.83bn. MGM China contributed $1.06bn to this amount.
Wynn Resorts also reported a rise of 30.8% in its Q1 revenues to $1.86bn. This was largely due to growth in Macau. The region’s operations generated $998.6m of revenue total, which is 53.6%.
Wynn revenue also increased in Las Vegas, Boston and Macau but not to the same extent.
