Macau forecasts industry GGR to hit US$30 billion in 2025
Nov 14, 2024 9:34:44 GMT -5
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Post by Blitz on Nov 14, 2024 9:34:44 GMT -5
Macau government forecasts industry GGR to hit US$30 billion in 2025
by Pierce Chan Thu 14 Nov 2024 at 14:05
asgam.com/2024/11/14/macau-government-forecasts-industry-ggr-to-hit-us30-billion-in-2025/
The Macau SAR Government has announced its budget for 2025, with gross gaming revenues forecast to reach MOP$240 billion (US$29.9 billion) or an average of MOP$20 billion (US$2.5 billion) per month.
The budget was the last to be delivered by current Chief Executive Ho Iat Seng and he will brief the Legislative Assembly next week.
“The recovery of the integrated tourism and leisure industry is expected to continue next year, with the number of visitors to Macau continuing to rise,” the government said. The MOP$240 billion GGR forecast is due to possible changes in the travel and spending patterns of tourists, it added.
Macau recorded GGR of MOP$183 billion (US$22.8 billion) in 2023 – well above the government’s estimate of MOP$130 billion (US$16.2 billion) after Macau’s borders were reopened in January. The 2024 estimate stands at MOP$216 billion (US$26.9 billion) although revenues are already at MOP$190.1 billion (US$23.7 billion) after 10 months, equal to 88% of the forecast.
The 2025 estimate represents an 11% increase over 2024.
The government’s consolidated budget for next year includes revenue of MOP$121 billion (US$15.1 billion) and expenditure of MOP$113.38 billion (US$14.1 billion), with a surplus of MOP$7.7 billion (US$960 million).
by Pierce Chan Thu 14 Nov 2024 at 14:05
asgam.com/2024/11/14/macau-government-forecasts-industry-ggr-to-hit-us30-billion-in-2025/
The Macau SAR Government has announced its budget for 2025, with gross gaming revenues forecast to reach MOP$240 billion (US$29.9 billion) or an average of MOP$20 billion (US$2.5 billion) per month.
The budget was the last to be delivered by current Chief Executive Ho Iat Seng and he will brief the Legislative Assembly next week.
“The recovery of the integrated tourism and leisure industry is expected to continue next year, with the number of visitors to Macau continuing to rise,” the government said. The MOP$240 billion GGR forecast is due to possible changes in the travel and spending patterns of tourists, it added.
Macau recorded GGR of MOP$183 billion (US$22.8 billion) in 2023 – well above the government’s estimate of MOP$130 billion (US$16.2 billion) after Macau’s borders were reopened in January. The 2024 estimate stands at MOP$216 billion (US$26.9 billion) although revenues are already at MOP$190.1 billion (US$23.7 billion) after 10 months, equal to 88% of the forecast.
The 2025 estimate represents an 11% increase over 2024.
The government’s consolidated budget for next year includes revenue of MOP$121 billion (US$15.1 billion) and expenditure of MOP$113.38 billion (US$14.1 billion), with a surplus of MOP$7.7 billion (US$960 million).