US$24.9 B in casino revenue possible in Macau in 2024: Gaming analyst

Macau’s aggregate casino revenue for 2024 has the potential to reach MOP200 billion (US$24.9 billion), an academic panel discussion heard on Wednesday. The roundtable was held by the Centre for Macau Studies under the University of Macau, exploring government policymaking for the fiscal year of 2024.

Gaming researcher Davis Fong Ka Chio painted a rosy picture for the near future, citing hotel bookings for the forthcoming Golden Week in October.

He also echoed certain industry projections that a mass-market recovery comparable to 2019’s situation is achievable for the gaming sector by that month.  

The gaming revenue for the whole year is likely to reach a range of MOP180 billion to MOP190 billion, Fong pointed out.

The scholar added that the figure could even surpass the MOP200 billion mark next year.

However, as estimated by Chief Executive Ho Iat Seng at a Legislative Assembly session recently, the scholar believes that the positive trajectory will not prevent an expected budget deficit for the next year.

During a question and answer session, the city’s leader stated that it would require at least MOP230 billion in annual casino revenue to balance the government’s budget.

Government revenue for the first half of the year reached MOP43.53 billion, versus MOP40.9 billion in expenses.

The authorities are expected to continue to fall back on the existing financial reserves to plug the estimated gap.

Government expenditure is expected to go up with public projects such as infrastructure and housing and external factors worldwide such as high interest rates and inflation taken into consideration, the scholar explained.