Casino revenue steady despite quarterly dip, says insider

Macau’s first-quarter gaming revenue rose 14.25% year-on-year to MOP 65.873 billion but edged down 0.28% from the previous quarter, with industry insiders predicting minimal fluctuations ahead.

Gaming revenue for the first quarter reached MOP 65.873 billion, up 14.25% year-on-year but down 0.28% quarter-on-quarter, according to data released by the Gaming Inspection and Coordination Bureau (DICJ).

VIP baccarat revenue surged 35.4% from a year earlier to MOP 19.575 billion, though it slipped 3.63% from the previous quarter. The VIP segment accounted for 29.71% of total revenue, up 4.64 percentage points from 25.07% in the same period last year.

In response to the figures, Billy Song Wai Kit, chairman of the Macau Responsible Gaming Association, said in a recent media interview that he expects only minimal fluctuations in gaming revenue moving forward.

He noted that Macau’s monthly gaming revenue has remained relatively stable, currently averaging around MOP 22 billion, and added that industry demand for staff also remains steady.

He further noted that current staffing needs differ from the labor shortages typically seen when new casinos open, adding that the industry as a whole will continue to operate steadily. While acknowledging casino openings in neighboring regions, Song said they have yet to have a significant short-term impact on Macau.

“The number of casinos or gaming tables is actually fixed, so the employment situation is basically quite stable,” he said. “For the time being, regarding neighboring regions, we see that the gaming industry in some places has actually ceased operations, while others continue to operate. However, these operations are still in the development phase – perhaps in the preparatory stage – so I believe this is unlikely to have a significant impact on Macau in the short term.”

Meanwhile, commenting on the FIFA World Cup set to take place across the U.S., Canada and Mexico in June, Song cited past data and said the overall impact on Macau’s gaming revenue is expected to be minimal, as the event has historically caused only short-term fluctuations.