Daily Asia Gaming eBrief: Macau VIP revenue trending down in 2Q24

Wednesday 17th of July 2024

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Good Morning. In Macau, it's all about the mass. That's at least what the second quarter results are showing, with official data showing that VIP baccarat revenue made up less than a quarter of the total GGR during the period. Mass continued to perform well, however, while sports betting revenues were boosted by the Euro. In the Philippines, the nation's president has been urged to ban Chinese-targeted POGO operations, but courts will need to decide whether the claims are sufficient to act.

What you need to know

VIP baccarat revenue generated by Macau casinos represented 23.6 percent of the total gross gaming revenue registered in 2Q24.
Groups urge Philippine President Marcos to ban Chinese-targeted POGOs, but expert says the court will need more evidence to act.

On the radar

Hann Resorts plans IPO as early as this year: reports.
Philippines tycoon Manuel Villar to open his first casino next year.
Macau receives 16.7M visitors in 1H24, at 83% of pre-COVID levels.
Philippines’ Suntrust appoints Andrew Lo as new president.
Thailand IR legislation could be finalized in 4Q24: Deputy Tourism Minister.
Thai Police and soldiers seize shipment of gambling equipment.

AGB Intelligence

MACAU

Macau VIP GGR trends down in the second quarter

Macau's shift to a mass market model appears to be working, with VIP baccarat revenue in the second quarter amounting to less than a quarter of the total GGR. Mass market baccarat continued to perform strongly, however, despite a slight sequential downturn, indicating that punters have not lost their appetite to play. Meanwhile, recent sporting competitions such as the Euro caused a boost in sports betting during the quarter.

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