Sands China president expects Macau’s casino revenue to hit €2.3 billion in February

Jenny Ortiz February 15, 2024

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Sands China president expects Macau’s casino revenue to hit €2.3 billion in February

Macau could earn up to MOP20 billion (2.3 billion Euros) in gross gaming revenue (GRR) in February, says Sands China president Wilfredo Wong.

According to a Macao Daily News report, Wong cited the boost in local tourism as the main driver of the revenue growth for gaming.

Wong was also quoted saying all hotels under Sands China were “fully booked” for the first few days of the Lunar New Year celebration.

The resort and casino executive based his revenue prediction on the Macau Government Tourist Office’s (MGTO) estimate that the city could receive more than 960,000 visitors during the holiday period, or approximately 120,000 per day.

Sands China is a developer, owner, and operator of multi-use integrated resorts and casinos in Macau.

Macau’s GRR expected to grow this year

Last year, JP Morgan projected Macau to generate a GGR of approximately US$27.3 billion, indicating continued growth.

The positive trajectory is crucial as Macau’s six casino firms aim to fulfill their commitment to increase non-gaming and overseas marketing spending by at least 20 percent.

In January, Macau’s Gaming Inspection and Coordination Bureau, also known as DICJ, reported that the casino GGR in 2023 stood at MOP183.06 billion (21.2 billion Euros).

The year closed on a high note, with December GGR witnessing a remarkable 16 percent month-on-month increase and an impressive year-on-year surge of 433 percent.

This robust performance exceeded market consensus, reaching MOP18.6 billion and boasting a daily run-rate of MOP599 million.

SiGMA Eurasia and SiGMA Africa – less than a month away

With less than a month until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscape. With the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa towards a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.

The fourth edition of?SiGMA Eurasia?will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.??