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Change afoot as Macau’s mass gaming segment takes more share from VIP in 3Q23

Ben Blaschke by Ben Blaschke
Tue 17 Oct 2023 at 04:10
Editorial – Winning margins: how Macau is set to become more profitable than ever before
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Macau’s mass baccarat tables accounted for 60.8% of all gaming revenue in the three months to 30 September 2023, rising from 58.4% in 2Q23 and a high of 58.9% in Q1, according to figures from the Gaming Inspection and Coordination Bureau (DICJ).

It was also considerably higher than the 43.1% mass baccarat comprised in 3Q19, highlighting the decline of VIP gaming in recent years. Macau’s mass table games accounted for 74.4% of total table revenue for the quarter.

By comparison, VIP baccarat comprised 24.0% of all gaming revenue in Q3, down from 26.6% in 2Q23 and from 24.5% in 1Q23. VIP baccarat had accounted for 43.8% of all revenue in 3Q19. A decade ago, in the third quarter of 2013, VIP baccarat had accounted for 64.6% of all revenues.

Mass GGR, including slots, was down just 6.7% on 3Q19 levels during the September quarter and up 11.1% quarter-on-quarter, while VIP GGR was down 62.1% on 3Q19 and also down 3.2% on 2Q23.

Macau has seen a marked shift in its market dynamics 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.

The DICJ recently announced that it would cap the number of junkets allowed in 2024 at 50, although there are currently only 36 licensed junkets Macau-wide.

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Tags: baccaratGaming Inspection and Coordination BureauMacaumass baccaratmass gamingVIP
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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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