Macau's gambling revenue reached 18.4 billion patacas (US$2.3 billion) in November 2024, achieving 80.4% of its pre-pandemic levels from November 2019. This 14.9% year-over-year increase exceeded analyst expectations of 13% growth.

Following October's strong performance of $2.6 billion, November's slight decline of 11.5% was anticipated due to seasonal patterns. While the Macau Grand Prix attracted visitors, it didn't generate the same high-roller activity as Las Vegas's Formula One event.

Year-to-date gambling revenue stands at $26 billion, representing a 26.8% increase from 2023 and reaching 77% of 2019's pre-pandemic levels. Analysts project December revenue to reach 86% of December 2019 levels, approximately $2.45 billion.

Significant changes are underway in Macau's gaming landscape. Incoming chief executive Sam Hou Fai plans to reduce the region's dependence on casino taxes by promoting economic diversification. The crackdown on VIP junket operators, including the imprisonment of Suncity's Alvin Chau, has transformed the high-roller market.

Recent positive developments include:

• Continued stimulus payments to Chinese residents
• New immigration policies allowing Hengqin residents unlimited access to Macau
• Weekly visit allowances for Zhuhai residents starting January 2025
• Enhanced support for South China and Pearl River Delta economies

These changes, approved by China's central government, aim to strengthen regional economic growth while maintaining regulatory oversight of the gaming industry.

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