Macau GGR Dips as Europe Turns to Football

Two factors are threatening Macau’s casino revenue: the UEFA Euro 2024 competition and a seasonal downturn. Following an 18% decline in daily gross gaming revenue (GGR) last week, HSBC is projecting a 10%–15% decline in GGR for the entire month in comparison to May. Accordingly, June’s GGR fell between 72.6 and 74% of pre-pandemic levels.

The company explained the drop as a typical June slowdown and potential sports betting taking attention away from Macau’s casinos.

Mass market gaming dipped 6-9% while VIP volume decreased by 8% month over month.

More visitors have been harmed by casinos’ recent decision to stop giving away free food and beverages to those who do not bet.

HSBC thinks the impact on GGR can be lessened by loyalty programs that offer free snacks and beverages. As operators iron out the details with the government, the situation still uncertain.

Original Story by: Asian Gaming Brief