VIP players push Macau’s gaming market
According to Bernstein Research, VIP and premium players drive 70% of Macau’s gaming market, contributing to most of its gross gaming revenue.
Macau.- The Chinese region of Macau owes its economic growth mainly to the gaming industry. Specifically, according to Bernstein Research, VIP and premium players are the top factors that drive the local market.
The financial services firm explained that between 300-400k individual VIP and premium players make up for 70% of Macau’s GGR. The firm released a document titled “The rise of Chinese gaming: A brief history and glimpse into the future of Macau,” in which it highlights that segment.
Analysts Vitaly Umansky and Eunice Lee say that group is growing and each individual travels four times to Macau.
Their research shows that VIPs contributed to €23.8 billion of Macau’s gross gaming revenue in 2018.
1H19 finances
Sands China and Galaxy Entertainment Group lead Macau’s gaming market share, Deutsche Bank said. Analysts at the financial services firm explained the companies retained the top spot during the first six months of 2019.
Experts explained that Sands China lead all companies at 24.1% of the total market. Galaxy Entertainment Group came next, with 21.4%. Melco Resorts, Wynn Macau and SJM, followed with the other 15.8%, 15.3% and 14.3%, respectively.
Casino revenue
The Gaming Inspection and Coordination Bureau of Macau (DICJ) recently announced that gambling revenue in the city decreased 8.6% in August. The industry was hit by a reduction in demand from high rollers after slowing economic growth due to a trade war between China and the United States.
Revenue during last month’s operations was €2.73 billion, slightly lower than July’s €2.74 billion but below analysts’ expectations of a drop between 2% and 6%.
