Macau Slot Co. Ltd., a sports betting concessionaire operating in Macau reported a 15 percent year-on-year increase in net profits in 2023, with an independent auditor flagging some financial disclosure issues.

Figures released by the Macau Slot Company, the exclusive sports betting provider, showed a 32% increase on profits for 2021, during the pandemic.

Macau SLOT, which offers lottery and sports betting services, said net profit for 2020 was down 37 percent after sporting events were cancelled worldwide due to Covid.

Macauslot has lost its long-standing monopoly to offer sports betting and instant lotteries in Macau.

The General Manager of Altira Macau and Mocha Clubs notes that mass market table gaming revenue has already reached or even surpassed 2019 levels, but that slots are lagging behind, at only 70 to 80 percent of pre-pandemic revenues. Raymond Lo notes that an overall reduction in tables has impacted the mass market results, but the shift away from VIP is having an overall positive impact on the industry.

Mass table market results in the Macau SAR are currently at 100 percent or even more of 2019 levels, with slot machine results at about "70 to 80 percent", a gaming executive told AGB.

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Macau lawmaker Andrew Chan Chak Mo says that the gaming industry amendment bill will give powers to the government to put a maximum cap on gaming tables and slot machines, as well as reducing individual table numbers and slot machines for concessionaires based on their usage. 

Macau's gaming market continues to be of interest, with the second quarter results showing a slight discrepancy for the larger operators as they aim to increase their base mass revenue, notes an analyst. Meanwhile, Thailand is proving to be more complicated than initially anticipated, while the UAE also poses its own new questions. On another flank, sports betting is heating up, as the UEFA Euro 2024 continues, with significant interest from Asian punters.

There's no such thing as a free lunch. And in Macau, IR operators are seeing that their incentives to bring in new clients via free gifts could actually be going against their attempts to bring more premium mass clientele, say experts.