Macau's gross gambling revenue in the fourth quarter of 2020 was MOP22 billion ($2.75 billion), with mass market baccarat and slots making up about 65 percent of the total, according to quarterly figures released by the Gaming Inspection and Coordination Bureau.
Studio City International Holdings announces the continuation of VIP rolling chip operations at the Studio City Casino until December 31, 2021.
The Philippines’ decision to issue online gambling licenses to local casinos is likely to present interesting opportunities for suppliers, but the terms won’t create significant business growth for the operators.
Star Entertainment Group’s newest development the Queens Wharf casino and entertainment complex will be geared towards attracting luxury tourists rather than high-rollers when it opens in 2022, according to chief executive officer Matt Bekier.
There have been some positive reports this week, talking about optimism over Macau’s medium-term future, led by the premium mass and mass markets.
The fallout from the inquiry into Crown Resorts' suitability to hold a license in Sydney may have ramifications for the entire industry in Australia, including tighter regulation, Fitch Ratings said in its 2021 outlook.
Macau's VIP market won't fully recovery any time in the foreseeable future and gross gambling revenue in 2023 is still expected to be lower than the levels of 2015, Bernstein Research said in a note.
Macau operators focused on the premium mass market are likely to significantly outperform in the short term, while the VIP sector may take another two years to recover, according to Bernstein Research.
Macau’s VIP GGR in the third quarter of this year registered an increase of 55.7 percent in relation to the previous three months, according to data published by the Gaming Inspection and Coordination Bureau (DICJ).
VIP baccarat revenue was up 51 percent quarter-on-quarter and made up almost 48 percent of the revenue for the quarter, while mass market revenue jumped 77 percent from Q2, accounting for 38 percent overall, according to government figures.