Good Morning. Punters on Macau’s mass floors are still more keen to roll the dice and flip the cards than to pull the lever or hit the button. Altira GM Raymond Lo notes that table revenues have already matched or surpassed 2019 levels, but slots are lagging behind. Meanwhile, analysts at Citigroup are predicting Macau GGR will hit $22.6 billion for FY23, less than two-thirds of that seen in 2019. And in Singapore, the MICE sector is expected to see strong annual growth until 2030, when the market should be worth nearly $7 billion, say consultants.
What you need to know
- Macau’s mass table gaming has almost fully recovered to pre-pandemic levels but slots are still lagging, notes the GM of Altira.
- Citigroup predicts that Macau will finish 2023 with a GGR of $22.6 billion, representing around 62 percent of the levels recorded in 2019.
- Singapore’s MICE market is expected to reach $6.97 billion by 2030, with a CAGR of 9 percent: consultancy.
On the radar
- Paradise Co. gaming revenue down 6.2 percent m-o-m in November.
- Jeju Dream Tower casino revenue down 9 percent m-o-m in November.
- PH AML: junket risk management underway, aiming to exit FATF greylist.
- Macau gaming employees want more professional improvement: survey.
- Lawmaker pushes for immediate cancellation of IPI casino license.
- Addisons law firm recruits Lachlan Gepp as Special Counsel.
AGB Intelligence
MACAU
Macau mass table gaming revenue matching 2019, slots lagging
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 still lagging, 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.
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