Macau’s mass market baccarat revenue surpasses pre-pandemic levels in 2024
Macau’s casino industry surged ahead in 2024, with gaming revenue surpassing pre-pandemic levels, led by mass market baccarat, which generated USD 17.2 billion (MOP 137.9 billion). The data from the Gaming Inspection and Coordination Bureau (DICJ) shows a dynamic shift in the gambling landscape, reflecting the reduced role of VIP junket operators and a strong recovery in mass market gaming.
Mass market baccarat outshines VIP gaming
Mass market baccarat accounted for 61 per cent of Macau’s total gaming gross revenue (GGR) of USD 28.3 billion (MOP 226.8 billion) in 2024, an impressive recovery from the Covid-19 pandemic years. In contrast, VIP baccarat revenue reached just USD 6.8 billion (MOP 54.7 billion), marking a significant drop to 40 per cent of 2019 levels. This segment made up only 24 per cent of the total GGR, a sharp decline from the 46 per cent it commanded five years earlier.
VIP gaming, once the lifeblood of Macau’s casinos, saw its revenue peak in 2013 when it contributed two-thirds of total GGR. However, a crackdown on junket operators in 2021 and 2022 drastically altered the industry. Prominent figures like Suncity’s Alvin Chau and Tak Chun’s Levo Chan were arrested and convicted for illegal gambling and organised crime, leading to an 18- and 13-year jail sentence, respectively.
Baccarat dominates Macau’s casinos
Baccarat remains the most popular game in Macau, accounting for 85 percent of the city’s overall gaming revenue across both mass market and VIP segments in 2024. This dominance underscores its enduring appeal among gamblers and its role as a key driver of Macau’s economic recovery.
Slot machine-generated revenue in 2024 reached MOP 12.9 billion (USD 1.6 billion), a 20 percent increase from 2023. However, the figures still fall short of pre-pandemic performance, highlighting room for growth in this segment.
Macau’s gaming revenue beats projections
Macau’s 2024 GGR of MOP 226.8 billion (USD 28.3 billion) was more than the SAR government had forecast in its budget for the year, which stood at MOP 216 billion. Still, this is only 77.5 per cent of the 2019 levels, and there is a gradual recovery from the economic impact of the pandemic.
Looking ahead, Macau authorities project gaming revenue of MOP 240 billion (USD 30 billion) for 2025, signifying confidence in the industry’s ongoing growth.
The last five years have seen significant changes in Macau’s gaming industry. The decline of VIP junket operations and a stronger focus on mass market gaming highlight a shift in priorities. The crackdown on illegal operations in 2021 and 2022 has paved the way for a more regulated and diversified gaming landscape.
Subscribe here to SiGMA’s Top 10 News countdown and SiGMA’s Weekly Newsletter to stay up to date with all the latest iGaming News, and benefit from Subscriber-Only Offers.
