Non-gaming activities will contribute approximately 15 percent to concessionaires’ collective revenue this year, according to a recent study by Seaport Research Partners.
Vitaly Umansky, an analyst at the US-based firm, projects that the gross gaming revenue (GGR) for 2024 will reach $28.7 billion, marking a 26.1 percent increase year-on-year. Non-gaming revenue is expected to reach $4.9 billion, a 17.7 percent rise, The Macao News reported.
This growth in non-gaming revenue suggests progress in the government’s economic diversification efforts aimed at reducing the SAR’s reliance on gambling. Under their current licenses, the city’s six gaming concessionaires must invest more than 108.7 billion patacas ($13.5 billion) in non-gambling infrastructure and projects over the next decade.
Seaport Research predicts non-gaming revenue will grow to $5.3 billion in 2025, while GGR is forecast to increase to $31.8 billion. This would position non-gaming revenue at about 14 percent of the total, the report said.
Umansky also noted that GGR recovery is expected to reach 83.3 percent of 2019’s pre-pandemic levels by the fourth quarter, following moderate results in the second and third quarters. He described Macao’s long-term GGR growth prospects as stable, emphasizing the continued gambling demand in Greater China.
The SAR government has forecast a more conservative GGR of 216 billion patacas ($27 billion) for this year, representing an 18 percent increase over 2023.
Original article: https://www.yogonet.com/international/noticias/2024/07/01/72892-macau-nongaming-to-contribute-15-to-operator-revenue-in-2024-study-finds
