Hoffman Ma Ho Man, deputy chairman of Success Universe Group, which operates the Ponte 16 casino in Macau, has stated that it is “unrealistic” to expect the region’s casino gross gaming revenue (GGR) to return to pre-pandemic levels.
Ma explained that, while the VIP sector once accounted for half of Macau’s gaming revenue, it now makes up just 20 percent of its pre-COVID contribution. However, he highlighted that mass-market revenue has increased by more than 10 percent compared to the pre-pandemic period. To further boost overall gaming revenue, Ma believes the focus should be on increasing foot traffic, particularly within the mass-market segment.
According to statements to Hong Kong media, looking ahead to 2025, Ma predicts modest single-digit revenue growth, citing near-full hotel occupancy as a key factor. His outlook aligns with projections from other investment banks. Despite ongoing economic recovery, Ma views a modest growth rate as a positive outcome, with hotel room rates remaining steady compared to last year.
A key strategy for growth, according to Ma, is increasing visitor numbers. He is optimistic that recent visa policy changes—allowing Hengqin residents to travel to Macau multiple times with a single visa and Zhuhai residents to visit weekly—will help drive higher foot traffic.
During the Chinese New Year period, for example, Macau saw a notable increase in visitors compared to non-holiday periods. Meanwhile, Hengqin has gained popularity among mainland Chinese travelers, which could lead to a higher number of overnight visitors there.
In this context, there are concerns that the new visa policy, which allows visitors to travel more freely between Macau and Hengqin, could impact hotel occupancy rates in Macau.
However, the Ponte 16 boss says he is not concerned, as he believes expanding the market will bring long-term benefits and does not foresee any significant impact on consumption. He also mentioned that the company has no plans to expand its footprint in Hengqin.
Tourism diversification
In the same comments to the Hong Kong press, Ma emphasized the need for diversification in Macau’s tourism offerings. He argued that Macau should move beyond traditional souvenir items, such as food products, and collaborate with local artists and designers to develop new, creative products that reflect the city’s unique culture.
As for tourism diversification, Ma noted the growing presence of concerts and events in the city. While Hong Kong’s upcoming Kai Tak Sports Park will provide a large venue for performances, Ma does not view it as a direct competitor. He sees the tourism offerings of both cities as complementary rather than competitive.
“In the past, travel between Hong Kong and Macau often formed part of a single itinerary for many visitors from Southeast Asia, Japan, Korea, and mainland China. I believe that the development of our shared industries is not a matter of competition, but an opportunity to think creatively about which events suit each location,” he concluded.
