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Gaming

Reopening helped average daily gaming revenue levels increase almost three-fold – Brokerage

Tuesday 24 de January 2023 / 12:00

2 minutos de lectura

(Macau).- Average weekly gross gaming revenue in the Macau SAR has almost increased three-fold in a few weeks as movement restrictions were lifted, but will likely be subdued during and after the Chinese New Year period, a report by Deutsche Bank analysts points out.

Reopening helped average daily gaming revenue levels increase almost three-fold – Brokerage

and after the Chinese New Year period, a report by Deutsche Bank analysts points out.

At MOP114 million (US$14.1 million) by the end of 2022, weekly gaming result averages have gradually increased with the removal of pandemic movement restrictions in the region, jumping to MOP263 million by January 9 and to MOP314 million by January 15.

“Looking at the data over the 2013-2019 period, the period following the period which includes CNY, has outperformed by, on average, 65-75 per cent, from a GGR per day perspective,” analysts Carlo Santarelli and Steven Pizella point out.

“In fact, over time, when looking at the soft period, which includes CNY, and the period post CNY, the blended average of the two periods has broadly mirrored the preceding periods, in aggregate”.

The investment bank has also produced estimates for the gaming market segments by 2023, forecasting that the local mass market is expected to recover to about 85 per cent of 2019 levels by next year.

” While this estimate could prove conservative, we want to remain cognizant of the unknown impact stemming from the structural changes in the junket network, and how these changes could impact the premium mass segment,” the dispatch indicates.

“That said, as previously noted, we are estimating the VIP marketto return to roughly 48 per cent of 2019 levels, in 2024”

Therefore, according to Deutsche Bank predictions by 2024, the mass market would amount to US$16.6 billion, more than half of the predicted US$26 billion in gross gaming revenue for that year, with the VIP market left with US$8.1 billion.

Macau’s new gaming law – in force since January 1 of this year – only allows junket operators to provide services to one gaming operator, with most concessionaires expected to shift to a predominant focus on premium mass or directly managed VIP customers.

“We expect VIP margins under the new structure to be higher, though just how much higher will likely boil down to competition amongst the concessionaires for direct VIP customers,” the report notes.

“As such, and while we acknowledge this could be a stretch, mass revenue does not necessarily need to be higher than 2019 levels, for Macau property EBITDA to exceed 2019 levels, should VIP revenue equate to or exceed 50 per cent of 2019 levels

By Nelson Moura

Categoría:Gaming

Tags: Sin tags

País: Macao

Región: Asia

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

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