Macau’s VIP gaming sector clawed back some market share in the three months to 31 March 2024, with revenues rising by 13.4% to MOP$14.4 billion (US$1.78 billion) according to figures from the Gaming Inspection and Coordination Bureau (DICJ).
This saw VIP market share reach 25.0%, up from 23.4% in 4Q23 although still well down on the 46.1% share it enjoyed in 2019. The majority of VIP revenues are now generated via the direct VIP programs of Macau’s concessionaires, however it is understood there is also some discrepancy between which tables concessionaires consider to be VIP and those the DICJ considers.
As reported by IAG, the number of licensed junkets in Macau has been halved to just 18 in 2024, down from 36 last year and from a high of 235 in 2013.
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.
Based on the DICJ’s figures, the increase in VIP market share in Q1 saw mass baccarat tables suffer a slight loss, from 61.8% in 4Q23 to 60.2% in 1Q24. Mass market GGR increased by 3.3% quarter-on-quarter to MOP$34.6 billion (US$4.29 billion).
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