Macau mass-market baccarat generated 62% of all GGR in Q3
In the three months to September 30, Macau generated MOP3.44bn (US$425.5m) from mass-market baccarat.
Macau.- The Gaming Inspection and Co-ordination Bureau (DICJ) has reported that Macau’s mass-market baccarat generated MOP3.44bn (US$425.5m) in the third quarter of the year. The figure accounted for nearly 62.0 per cent of all gross gaming revenue (GGR) but was down 32.3 per cent when compared to the previous quarter and 67.4 per cent year-on-year.
VIP baccarat, which accounted for nearly half of Macau’s GGR in 2019, accounted for 20.8 per cent in the three months to September 30 – just under MOP1.16bn of Macau’s total MOP5.55bn third-quarter GGR. The figure was down 41.9 per cent quarter-on-quarter and down 80.6 per cent year-on-year.
Slot machine revenue was MOP511m. The figure accounted for 9.2 per cent of the market share. Mass-market games, including slot machines, accounted for nearly 79.2 per cent of Macau’s second-quarter casino GGR, at nearly MOP4.40bn.
The number of live gaming tables in the Macau market decreased by 32 from the previous quarter to 5,974 at the end of September. The tally of slot machines as of September 30 was 12,387, versus 12,042 at the end of the second quarter.
Macau casino operators lost US$1.5bn in Q3
The two-week closure of the casinos and lack of tourists in July as a result of a new outbreak of Covid-19 cases contributed to a loss of US$1.5bn for the Macau gaming industry in Q3. Morgan Stanley has reported that the industry’s net debt rose to US$24bn, and it expects that could rise again this quarter depending on the impact of e-visa/package tours and China’s Covid-19 zero policy.
Casino operators collectively saw gross gaming revenue (GGR) of MOP5.5bn and negative corporate EBITDA of about US$600m for the third quarter. There were just 7,700 visitors from mainland China, down 50 per cent when compared to the previous quarter. The number of visitors improved in September.
According to Morgan Stanley, the industry will have burnt US$1.5bn of cash in Q3 (vs. US$1.4bn in Q2 2022). It forecasts that EBITDA will reach only 8 per cent of 2019 levels in the last quarter of the year.
