In 4Q23, mass table games constituted 75% of Macau’s total GGR, according to DICJ.

Macau’s mass gaming tables are expanding their market share, representing 75.2% of total table revenue in 4Q23—an increase from 74.4% in September 2023 and a substantial rise from 52.7% in 4Q19.

The Gaming Inspection and Coordination Bureau (DICJ) reports that mass market baccarat revenue reached MOP$33.5 billion (US$4.15 billion) in 4Q23, constituting 61.8% of the total MOP$54.3 billion in revenues generated by Macau’s gaming operators for the quarter. This reflects an increase from its 58.9% share in 3Q23.

Conversely, VIP baccarat revenues of MOP$12.7 billion (US$1.57 billion) made up 23.4% of Macau’s GGR, a decline from 24.0% in Q3 and a significant drop from 44.7% in 4Q19. Deutsche Bank analyst Carlo Santarelli notes that total mass GGR, including slots, grew by 4% relative to 2019 and was 11.8% higher quarter-on-quarter. VIP GGR increased by 7.9% quarter-on-quarter but was down 60.7% compared to 4Q19.

Santarelli observes that the number of tables operating in the market increased by 7.0% year-on-year but was down 11.0% versus 4Q19. Slot machines saw an 11.4% year-on-year increase but were down 29.4% compared to 4Q19.

The changing dynamics in Macau’s market follow mainland China’s crackdown on cross-border gambling and the collapse of Macau’s junket industry. The Macau government has updated its junket law, restricting each junket to work with only one concessionaire, prohibiting the operation of VIP rooms within casinos, and disallowing revenue share agreements. Consequently, concessionaires are increasingly focusing on the premium mass segment, offering higher margins, while VIP operations are shifting towards a direct VIP model.

Original story by: IAG