Macau Sees Baccarat Revenue Rise In March GGR Figures
Summary:
- Macau’s casino GGR for March rose to a record MOP12.74 billion
- Mass-market baccarat contributed the biggest revenue during the first quarter of 2023
- Macau’s leader is calling for more 3- and 4-star hotels to be built in the city
Latest figures released by Macau’s gaming regulator show the city’s casino gross gaming revenue (GGR) continues to recover, with the results for March representing the best monthly performance for the city since the pandemic in 2020.
Mass-Market Baccarat Biggest Revenue Contributor for Q1
Based on the latest data from the Gaming Inspection and Coordination Bureau, mass-market baccarat accounted for more than half of the city’s casino gross gaming revenue (GGR) for the first quarter of 2023.
The segment generated almost MOP20.51 billion (US$2.54 billion) from January to March 2023, equivalent to 59.2 percent of all casino GGR in that particular period. That figure was up 89.5 percent compared to the same period last year and represented a 207.8 quarter-on-quarter increase.
VIP baccarat had a 24.7 market share during 1Q of 2023, bringing in almost MOP8.57 billion in revenue. Slot machines generated MOP2.45 billion, accounting for 7.1 percent of the total casino GGR for the first three months of the year.
The mass-market segment as a whole generated MOP26.08 billion, representing nearly 75.3 percent of the city’s casino GGR during the first quarter of 2023. Overall, casino operators in Macau generated MOP34.64 billion in total GGR during the period.
March’s performance was a standout, as GGR for the month reached nearly MOP12.74 billion, a 246.9 percent year-on-year increase. It’s the biggest monthly GGR generated by Macau casinos since January 2020, before the onset of the COVID-19 pandemic.
By the end of March, there were 6,000 live gaming tables and 12,000 slot machines operating in the city, in accordance with the table and gaming machine cap that has been in place since January 1, 2023, when the new gaming concessions took effect. In addition to those limits, the government also set a minimum annual target for each gaming table (MOP7 million) and each gaming machine (MOP300,000).
Macau Should Improve Accommodation to Boost Tourism
Meanwhile, as Macau’s gaming industry keeps its recovery on track, the city’s Chief Executive wants to see some improvements to the city’s accommodation products.
In particular, Ho lat Seng believes the lack of four-star and three-star hotels in Macau is limiting the city’s tourism potential. Ho said additional four-star and three-star hotels must be developed in Macau to attract more international visitors travelling via package tours.
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