Macau gaming revenue grows eightfold

Macau's total gaming revenue for the third quarter of 2023 rose nearly eightfold to 488.1 billion patacas (HK$473.9 billion), compared to the same period last year, according to data from the Macau Gaming Inspection and Coordination Bureau.

Mass market revenue amounted to 370.5 billion patacas, a sevenfold year-on-year increase.

VIP gaming revenue was 117.7 billion patacas, a ninefold rise but down 3.2 percent monthly.

Meanwhile, Galaxy Entertainment (0027) clarified that it is not considering re-entering Boracay in the Philippines for a resort project but will instead focus on two new phases in Macau. The company is prioritizing its full reopening in Macau with a focus on scaling up its recently launched phase 3 and the ongoing construction of phase 4.

In 2018, Galaxy obtained a temporary gaming license from the Philippine Amusement and Gaming Corporation.

The casino operator previously said it would explore the possibility of developing a high-quality, eco-friendly beach resort in Boracay, with an envisioned investment ranging from US$300 million (HK$2.34 billion) to US$500 million.

Yet, in the same year, President Rodrigo Duterte declared the decision to "close the island," leading to the plan ultimately being abandoned.