Skip to content
Menu

Gross gaming revenue will grow by over 20 percent in 2024: Deutsche Bank

The investment firm also believes that revenue from the mass market segment will exceed the levels of pre-pandemic 2019.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 18 Jan 2024, 7:50 am

Deutsche Bank Securities says gross gaming revenue (GGR) will grow by 20.6 percent this year, reaching about 221 billion patacas, specialist gaming publication GGR Asia reports

That’s more than the government’s expected 216 billion (18 percent growth), but less than Morgan Stanley’s estimate of 234 billion (28 percent growth).

Deutsche Bank’s analysts believe revenue from Macao’s mass-market segment will grow to 108.5 percent of its 2019 level, while the VIP segment will shrink to just 37.1 percent of what it was prior to the Covid-19 pandemic, GGR Asia says.

[See more: Casinos made a record number of suspicious transaction reports in 2023]

In terms of year-on-year growth, the bank estimated that the mass-market and VIP segments would expand by 23.7 and 11 percent, respectively.

A JP Morgan report from October last year, said revenue from mass-market gaming had already returned to more than 90 percent of its 2019 level. VIP revenue, meanwhile, was at about a quarter, owing to the reduced use of junket operators (also known as licensed gaming promoters), who generated most VIP revenue prior to the covid-pandemic.

The number of junket operators licensed to work in the SAR was recently cut in half, going from 36 in 2023 to only 18 this year.

UPDATED: 18 Jan 2024, 7:50 am

Send this to a friend