Good Morning: Gone, and sorely missed. The VIP segment which previously was the lifeblood of Macau’s gaming market has left behind an unfillable void, meaning that the gaming hub is unlikely to reach its pre-pandemic GGR levels this year, notes an expert. Meanwhile, the industry shined at the MGS Entertainment Show – with operators, suppliers and industry experts sharing key insights. And in the Philippines, PAGCOR continued its contributions to public coffers, noting it had a “banner season” in 2022.
What you need to know
- Macau’s gaming industry may not fully recover to pre-COVID levels as the mass market growth is insufficient to offset the decline in VIP segment revenue: gaming expert.
- PAGCOR hands out extra $89.5 million in dividends to public coffers after “banner season” in terms of revenue generation in 2022.
- The industry came together for MGS Entertainment Show, sharing key insights on everything from land-based to online, growth and compliance.
On the radar
- Melco rating upgraded due to Macau’s fast recovery: Moody’s.
- Grand Lisboa Palace ramp-up ‘still lagging’: Morningstar.
- Macau visitor spending up 28.9 percent in 3Q23 compared to 3Q19.
AGB Intelligence
MACAU
Macau mass can’t fill the gap left by VIP: expert
Although Macau is roaring back, with strong visitation numbers and an increase in mass, the void left by transitioning away from VIP means that the gaming hub can’t reach pre-pandemic levels this year. According to expert Wang Changbin, Macau’s non-gaming events are securing new demographics of punters, in line with government mandates to promote events and lure in foreign clientele.
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