Gross revenue from mass-market baccarat in Macau totaled MOP102.40 billion ($12.69 billion) for 2018, up 21.5% from the previous year’s total of MOP84.28 billion ($10.44 billion).
The Special Administrative Region’s Gaming Inspection and Coordination Bureau (DICJ) released data showing VIP baccarat revenue also rising by double digits, and contributing the most among games of fortune, at MOP166.10 billion ($20.58 billion). This was 10.2% higher than the previous year’s figure of MOP150.67 billion ($18.67 billion).
For the fourth quarter alone, mass-market baccarat brought in MOP27.90 billion ($3.46 billion), 19.0% higher than sales of MOP23.45 billion ($2.91 billion) for the same period in 2017.
VIP baccarat revenue was MOP42.01 billion ($5.21 billion), 3.4% higher than the MOP40.64 billion ($5.04 billion) figure from October to December 2017.
Slot machine revenue for the quarter was MOP3.91 billion ($484.63 million), 7.9% higher year on year. For the whole of 2018, slot machine revenue amounted to MOP15.05 billion ($1.86 billion), a 14.3% increase from last year’s revenue of MOP13.16 billion ($1.63 billion).
VIP baccarat made for 54.85% of total gross gaming revenue (GGR) in Macau for 2018, while mass-market baccarat constituted 33.81%. Combined, VIP and mass-market baccarat revenue was 88.7% of GGR.
While total GGR increased in 2018 by 14% to MOP302.85 billion ($37.57 billion), analysts doubt such a level of growth will continue this year. Union Gaming’s Grant Govertsen foresees 4% year-on-year growth for the first quarter, and growth in the “mid-single digits” for the whole of 2019.
Nomura division Instinet sees 5% year-on-year GGR growth for this month. JP Morgan sees January growth staying in the range of 4%-6% compared to last year, and for growth in subsequent months to be in the single digits.
The Telsey Advisory Group similarly projects less than 10% GGR growth for the year, with firms increasingly focused on renewing their casino concessions, set to expire in 2020 and 2022.