GGRAsia – Macau VIP GGR up 42pct q-o-q, to US$1.5bln: regulator

Macau VIP GGR up 42pct q-o-q, to US$1.5bln: regulator

Jul 18, 2023 Newsdesk Latest News, Macau, Top of the deck

VIP baccarat generated nearly MOP12.16 billion (US$1.51 billion) in Macau in the second quarterof 2023, up 41.9 percent from the first three months this year.

The figure accounted for 26.7 percent of all casino gross gaming revenue (GGR) in the April to June period, according to data released on Tuesday by the city’s casino regulator, the Gaming Inspection and Coordination Bureau.

Mass-market baccarat rose by 30.1 percent sequentially, accounting for almost MOP26.68 billion. It corresponded to a market share of 58.6 percent.

Slot machine revenue was MOP2.65 billion, a market share of circa 5.8 percent. It was up 8.1 percent quarter-on-quarter.

Aggregate revenue in the overall mass-market segment – including slot machines – stood at just below MOP33.34 billion, accounting for a share of nearly 73.3 percent of Macau’s second-quarter casino GGR.

Macau’s second-quarter GGR stood at MOP45.49 billion, up 31.3 percent from MOP34.64 billion in the first three months of 2023. The latest quarterly result represented 62.0 percent of the MOP73.35 billion achieved in the comparable period of 2019, before the onset of the Covid-19 pandemic.

May’s GGR tally is so far the best monthly performance in the Macau market since January 2020, when GGR stood at MOP22.13 billion.

JP Morgan Securities (Asia Pacific) Ltd suggested in a Monday note that July was on course to achieve the “best monthly GGR” since January. Macau-wide casino GGR in July is likely to be “north of MOP16 billion”, stated the brokerage.