The favorite table casino game for both mass and VIP continues to be a hit in Macau; accounts for more than half of industry-wide revenues in the city.
Original story by Ben Blaschke for Inside Asia Gaming
Macau’s gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ), reported 2Q23 revenue results on Tuesday, with mass market baccarat continuing to dominate the landscape.
According to DICJ figures, mass market baccarat revenues reached MOP$26.68 billion (US$3.32 billion) in Q2, representing 58.4% of industry-wide revenues – slightly down on the 58.9% reported in the March 2023 quarter. By comparison, mass market revenue comprised just 39.1% of all GGR in 2019.
VIP baccarat booked some improvement in 2Q23, with revenue of MOP$12.16 billion (US$1.51 billion) comprising 26.6% of GGR compared with 24.5% in Q1.
Total GGR for 2Q23, the first full quarter since border restrictions were dropped on 8 January, was MOP$45.65 billion (US$5.68 billion), up 31.1% quarter-on-quarter.
As reported by IAG, Macau’s shifting market dynamics come in the wake of mainland China’s war on cross-border gambling and the collapse of Macau’s junket industry following the arrests of former Suncity Group CEO Alvin Chau in November 2021 and Tak Chun Group CEO Levo Chan in January 2022.
The Macau government has also updated its junket law, with each junket now only permitted to work with one concessionaire, unable to operate their own VIP rooms within casinos and not permitted to engage in revenue share agreements with operators.
Concessionaires are increasingly shifting their focus to the lucrative premium mass segment, which offers considerably higher margins than the old junket model, while VIP operations are increasingly leaning towards a direct VIP model.
Other Interesting ArticlesPhilippine sovereign fund bill Maharlika signed into law today
Jul 18, 2023