Since the Macau casino facilities relaunched operations in January 2023, the mass table market has been constantly growing to account for 75.2% of total table revenue in Q4 2023. The figure reportedly soared from the 74.4% share held in the preceding quarter. Also, the Q4 2023 mass gaming table share represents a 22.5 higher percentage to the pre-pandemic 52.7% share reached in Q4 2019 to testify about a shift in Macau’s gambling market trends.
Mass Table Segment Reaches 75% Share in Q4 2023:
As Inside Asian Gaming (IAG) reports, Gaming Inspection and Coordination Bureau (DICJ) stated that the Q4 2023 result included mass market baccarat revenue of US$4.15 billion, which represented 61.8% of the total revenues of US$6.74 billion generated by Macau’s gaming operators for the quarter. According to the source, the baccarat Q4 percentage also rose from the 58.9% share held in Q3 2023.
On the other hand, the source reports that VIP baccarat segment revenues of US$1.57 billion accounted for 23.4% of the total revenues generated across Macau’s operators in the fourth quarter of 2023. The level reportedly represents a slight decline from the Q3 2023 share standing at 24%, as well as more than 20% lower level than the 44.7% share hit in Q4 2019.
As reported by IAG, Deutsche Bank analyst Carlo Santarelli stated that the total Q4 2023 mass gaming table and slot revenues were 4% higher when compared to the same period of 2019. The analyst reportedly added that the 75.2% share reached in Q4 2023 was 11.8% higher than the share held in the preceding quarter. As reported, the VIP market gross gaming revenues were also 7.9% higher than in the Q3 2023, but still 60.7% lower than the Q4 2019 market share.
Mass Segment Outperforming Q4 2019:
Santarelli also stated that the market included 7 % more tables and 11.4% more slot machines than in the same quarter of 2023. However, the market operated 11.4% less tables and 29.4% less slot machines than in Q4 2019. According to the figures, the mass gaming market hit a 4% higher revenue level in the fourth quarter of 2023 with a significantly lower number of gambling facilities than in Q4 2019.
Regulatory Updates Shape Market Trends:
As reported by IAG, the shift in Macau’s market trends coincides with the mainland China’s efforts to prevent cross-border gambling reflected in the termination of Macau’s junket industry and the arrests of the former Suncity Group CEO Alvin Chau in 2021 and Tak Chun Group CEO Levo Chan in 2022. As a consequence, the Macau government has adopted amendments to its junket law.
Under the regulatory update, each junket is now reportedly allowed to collaborate with only one concessionaire. As IAG reports, junkets are also prohibited from operating their own VIP rooms or engaging in revenue share agreements with operators from now on. The market responded accordingly. As reported, concessionaires are increasingly turning to the premium mass segment with considerably higher margins than the VIP junket model. The market share figures testify about the shift pushing the old junket model towards a direct VIP gambling option.
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