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China – Macau government sticks with 2023 revenue forecast of US$16bn

By - 13 January 2023

Macau’s Chief Executive Ho Iat Seng has confirmed that the government believes its 2023 gross gaming revenue forecast of MOP$130bn (US$16bn) will prove accurate.

Mr Ho said: “This year’s budget states that gross gaming revenue is MOP$130bn, and the average monthly gross gaming revenue need to be more than MOP$10bn. The government will not revise this forecast for the time being and hopes that all sectors of the community will work hard to achieve this figure.”

The revenue prediction was made in November before the lifting of travel restrictions and is the same government prediction as made in each of the past two years, despite GGR falling short in both 2021 and 2022. The lifting of travel restrictions has boosted optimism in Macau with Mr Ho stating that Macau had seen a recovery in its visitation figures. He added that the government was in close communication with China’s government about the return of package tours which he expected soon.

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