Macau GGR unlikely to reach 2019 levels, Success Universe Group deputy chairman says
Hoffman Ma Ho Man said a return to pre-pandemic levels was unlikely due to the decline in the VIP sector.
Macau.- Hoffman Ma Ho Man, deputy chairman of Success Universe Group, which operates the Ponte 16 casino in Macau, has said it is “unrealistic” to expect Macau’s gross gaming revenue (GGR) to return to 2019 levels as the city now has only 20 per cent of its GGR coming from the VIP sector.
During a lunch for the Hong Kong press, Ho Man said mass-market revenue has increased by more than 10 per cent compared to 2019 levels and that the focus should be on increasing foot traffic, particularly within the mass-market segment. Ho Man has forecast Macau’s GGR for 2025 could be up slightly in year-on-year terms.
See also: Macau GGR dips in January
Macau’s GGR for 2024 was MOP226.78bn (US$28.39bn), up 23.8 per cent year-on-year but down 22.45 per cent compared to 2019 levels (MOP292.45bn). The results surpassed the Macau government’s expectations.
Market-wide VIP baccarat revenue stood at MOP54.76bn (US$6.83bn), accounting for 24.1 per cent of aggregate GGR for the year. Such revenue was up 21.2 per cent in year-on-year terms but represented only circa 40.5 per cent of VIP revenue generated in 2019. Mass-market baccarat generated a GGR of just below MOP137.91bn, representing 60.8 per cent of total revenue in 2024.
See also: Macau premium mass wagers reach US$2.7m on third day of Chinese New Year, analysts say
