Macau Casinos Pull $2.45 Billion in March Revenue as Recovery Nears the Jackpot
The Figure Represents a 0.8% Increase Compared to March 2024
Steady Climb
Macau’s gambling sector continues to climb back to normal, as revenue for March reached $2.45 billion. That’s 76% of what cash casinos made in March 2019, a key benchmark as the region is still recovering from the pandemic.
While the total was up 0.8% YoY, it was down 0.4% from February’s $2.46 billion, according to the latest figures from the Gaming Inspection and Coordination Bureau. Industry insiders call the drop a standard seasonal fluctuation after an 8% jump from January to February due to Lunar New Year tourist spending.
How long can this momentum last though? Some experts warn external factors like competition from other Asian gaming hubs and online casinos could slow things down.
#OTD in 2020, casinos in Macau were forced to temporarily close down as a result of the COVID-19 Pandemic. pic.twitter.com/fRojRHjGIC
— Will Luem (@WLuem) February 4, 2025
Steady Gains Show Positive Signs
Hitting three-quarters of pre-pandemic numbers means international tourism is picking up. This is thanks to looser entry rules and pent-up demand to play baccarat and blackjack for money.
Several operators welcomed the news as a positive sign. But they say sustained growth will require a broader recovery in VIP travel and international flight availability.
The mass-market play has been the backbone of this rebound, with casual tourists and low-rollers driving a big chunk of the numbers. The VIP segment has yet to reach its former glory, partly due to junket clampdowns and ongoing restrictions from key markets.
Also, public health policy changes and travel regulations can affect visitation patterns. Operators say even a small swing in outbound travel from mainland China could make a big difference in monthly revenue, given the city’s reliance on this customer base.
There are so many casinos in Macau it’s crazy. This one is the most iconic.
Here we go! https://t.co/DRhXFF691U pic.twitter.com/HIzkG7ORUY
— Edward Morra (@edwardmorra_btc) February 26, 2025
Why Thailand Could Matter
In addition, Thailand’s push to legalize betting casinos is also a wild card, especially for tourists who might choose a new destination over the classic Macau.
Policymakers in Bangkok are weighing gambling regulations that would allow casino resorts, potentially drawing high-rollers from across Asia. Insiders say that with an attractive gaming tax structure and an existing tourist reputation, Thailand could siphon off some visitors from Macau’s casinos.
On the other hand, supporters of Macau’s market believe that brand loyalty, cultural familiarity, and well-established gaming lines provide a firm defensive position.
Bounce Back Year?
In addition to March’s $2.45B performance, Macau’s 2024 fiscal data also made casino news headlines.
Government figures show annual gaming tax revenue up 35% to $11 billion, beating estimates and proving cash casinos are the backbone of the economy. Full-time gaming employees reached almost 53,000 and average salaries rose 2.9%.
Whether this momentum holds or stalls will depend on how international travel rebounds and how quickly Macau can adapt to new competition.
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