Macau’s VIP Segment Contributes 24% to 3Q24 Gross Gaming Revenue: Regulator Reports

Macau’s VIP baccarat revenue for the third quarter of 2024 reached nearly MOP13.08 billion ($1.64 billion), representing 23.5 percent of the total gross gaming revenue (GGR) of approximately MOP55.6 billion ($6.95 billion) for the period, according to the Gaming Inspection and Coordination Bureau (DICJ), the city’s casino regulator.

The figures, released on Wednesday, indicate a slight 1.7 percent decline in VIP revenue compared to the previous quarter but an 11.1 percent year-on-year increase from MOP11.77 billion ($1.47 billion) in the same period last year.

In the mass-market segment, baccarat revenue hit nearly MOP34.09 billion ($4.26 billion), down 1.6 percent quarter-on-quarter but up by 14.5 percent year-on-year, compared to MOP29.77 billion ($3.7 billion) in the third quarter of 2023. Mass-market baccarat accounted for approximately 61.3 percent of the market share during the three-month period ending on September 30th.

Slot machine revenue came in at almost MOP3.1 billion ($388 million), representing about 5.6 percent of the total market share, with a 2.9 percent drop compared to the previous quarter. Overall, the mass-market segment, including slot machines, contributed just under MOP42.52 billion ($5.32 billion), making up 76.5 percent of Macau’s total GGR for the third quarter.

Earlier in October, Bank of America highlighted a 13 percent year-on-year growth in third-quarter GGR, though there was a slight 1 percent drop compared to the second quarter, which was primarily attributed to typical seasonal trends. The bank also noted an expected 6 percent decline in EBITDA for the quarter, mainly due to increased promotional efforts across the gaming industry.

Looking ahead to the earnings season, Bank of America predicts that SJM Holdings will post the strongest EBITDA performance among operators, with a 20 percent quarter-on-quarter increase, driven by the ongoing success of its Grand Lisboa Palace. In contrast, other gaming operators are expected to experience a drop in EBITDA. 

By fLEXI tEAM