Macau’s Chief Executive, Ho Iat Seng, said Tuesday that the government is maintaining its GGR forecast for 2024 at MOP$216 billion (US$26.8 billion).
It was during his November 2023 annual Policy Address that Ho first outlined the MOP$216 billion forecast, representing monthly gaming revenues of MOP$18 billion (US$2.2 billion).
GGR for January 2024 reached MOP$19.3 billion, representing 67% year-on-year growth, while February is expected to receive a major boost due to the eight-day Chinese New Year Golden Week holiday.
Speaking to the media on Tuesday afternoon, Ho said that, based on the strong start to CNY, it is believed Macau’s economic development is stable and on the right track.
“The gross gaming revenue forecast for this year is maintained at MOP$216 billion, with MOP$18 billion per month being a more stable development trend,” he said.
“I certainly hope that the target will be higher, but MOP$216 billion can balance the government’s budgetary requirements.”
Macau’s visitor arrivals for this year’s CNY have increased dramatically over recent years. According to preliminary government figures, a total of 502,324 visitors entered Macau during the first three days of the holiday representing a 160% improvement over the same period in 2023. The increase included a post-pandemic record of 217,541 visitor arrivals on Monday.
