MGM China mass-market gaming tables reached 85% of pre-pandemic levels in CNY

MGM China Holdings has reported that its table drop in the mass-market segment reached 85 per cent of pre-pandemic levels during the Chinese New Year holiday period.

Macau.- While sharing its financial results for 2021, Hubert Wang, MGM China president and chief operating officer, revealed that the casino operator saw its table drop in the mass-market segment reach 85 per cent of pre-pandemic levels during the Chinese New Year holiday period.

Wang also confirmed plans to reallocate resources from the VIP business to the mass market “in the coming quarters.” He added the Macau market continued to rebound and the recovery was “driven by the mass market” but acknowledged that travel restrictions prevent more meaningful growth.

He said that MGM China was focusing on growing its mass-market business and “grabbing” former junkets as much as possible to convert them into internal clients.

Wang stated: “I think that all the junkets in the traditional sense have ceased operations in Macau, so the players and agents who worked for the previous junkets are trying to find a place to settle down.” 

Several casino operators have announced that they have ceased all arrangements with gaming promoters after the arrests of Alvin Chau and Levo Chan Weng Lin, the heads of Suncity Group Holdings and Tak Chun Group, two of the city’s largest junket groups.

Sanford C. Bernstein Ltd has reported that Macau’s gross gaming revenue (GGR) for the Chinese New Year period was up 60 per cent when compared to 2021. Meanwhile, authorities have revealed that average daily tourist arrivals were up 25.4 per cent year-on-year to 16,242 visitors.