In May, Macau's casinos made a total of MOP20.19 billion, marking the highest monthly revenue since the pandemic ended.
In May, the total revenue in Macau exceeded the previous post-pandemic peak of MOP19.50 billion, first reached in October 2023 and matched in March this year.
The revenue also surpassed April's earnings by 8.8%, which stood at MOP18.55 billion, and was 29.7% higher compared to May last year, which amounted to MOP15.57 billion.
The revenue also surpassed April's earnings by 8.8%, which stood at MOP18.55 billion, and was 29.7% higher compared to May last year, which amounted to MOP15.57 billion.
In May, Macau surpassed MOP20.00 billion for the first time since January 2020, when the pandemic began. Before Covid-19, monthly revenue in Macau consistently exceeded MOP20.00 billion comfortably.
Covid-19 measures and restrictions affected the region for years during the pandemic. However, since they were fully lifted in January 2023, the market has shown significant recovery, with consistent double-digit monthly revenue growth.
Looking at the year-to-date performance in Macau, this recovery is evident. Revenue for the first five months of the year totaled MOP96.06 billion, marking a 47.9% increase from last year.
Covid-19 measures and restrictions affected the region for years during the pandemic. However, since they were fully lifted in January 2023, the market has shown significant recovery, with consistent double-digit monthly revenue growth.
Looking at the year-to-date performance in Macau, this recovery is evident. Revenue for the first five months of the year totaled MOP96.06 billion, marking a 47.9% increase from last year.
Macau recovery bolsters land-based casino giants
The ongoing recovery in Macau has been accompanied by growth reported by some of the leading casino brands in the region.
SJM Holdings, a major player focusing on the Macau market, showed strong performance in Q1. Their revenue for the three months ending March 31 reached HK$6.90 billion, up 73.0% from last year. Revenue from the Grand Lisboa Palace and Grand Lisboa in Macau increased significantly, with adjusted EBITDA for Q1 2024 at HK$864 million, compared to just HK$31 million in the previous period.
Other key players also saw positive revenue trends in Q1. Las Vegas Sands reported a 39.6% increase to US$2.96 billion, with operations in the region generating $1.81 billion, up 41.6% from last year. Melco Resorts & Entertainment saw a 55.2% year-on-year rise to $1.11 billion, with growth across all Macau properties, particularly the City of Dreams venue with $550.9 million in revenue.
MGM Resorts International achieved record quarterly revenue in China during Q1, with group revenue climbing 13.2% to $4.83 billion, and $1.06 billion coming from MGM China. Wynn Resorts posted a 30.8% rise in Q1 revenue to $1.86 billion, driven by growth in Macau, which accounted for 53.6% of total Q1 revenue. Though Wynn’s revenue was also up in Las Vegas and Boston, the growth was not as significant as in Macau.
SJM Holdings, a major player focusing on the Macau market, showed strong performance in Q1. Their revenue for the three months ending March 31 reached HK$6.90 billion, up 73.0% from last year. Revenue from the Grand Lisboa Palace and Grand Lisboa in Macau increased significantly, with adjusted EBITDA for Q1 2024 at HK$864 million, compared to just HK$31 million in the previous period.
Other key players also saw positive revenue trends in Q1. Las Vegas Sands reported a 39.6% increase to US$2.96 billion, with operations in the region generating $1.81 billion, up 41.6% from last year. Melco Resorts & Entertainment saw a 55.2% year-on-year rise to $1.11 billion, with growth across all Macau properties, particularly the City of Dreams venue with $550.9 million in revenue.
MGM Resorts International achieved record quarterly revenue in China during Q1, with group revenue climbing 13.2% to $4.83 billion, and $1.06 billion coming from MGM China. Wynn Resorts posted a 30.8% rise in Q1 revenue to $1.86 billion, driven by growth in Macau, which accounted for 53.6% of total Q1 revenue. Though Wynn’s revenue was also up in Las Vegas and Boston, the growth was not as significant as in Macau.
