Despite this double-digit growth, the VIP baccarat segment remains significantly below pre-pandemic levels, as it accounted for just 27.5% of total casino revenue last year, a sharp drop from its 46.2% market share in 2019. However, the sector gained momentum toward the year’s end, with fourth-quarter revenue from high rollers jumping 45% year-on-year to 20.3 billion patacas.
Broader market performance was also positive. Total gross gaming revenue (GGR) climbed 9.1% to 247.4 billion patacas, as mass-market baccarat consolidated its dominance, rising 3.4% to 137.9 billion patacas and capturing 57.7% of the market, while slot machine revenue grew 7.3% to 13.9 billion patacas.
The VIP landscape continues to stabilize following the crackdown on junket operators, sparked by the November 2021 arrest of former Suncity CEO, Alvin Chau. His subsequent conviction and 18-year sentence led to a collapse in licensed gaming promoters from 85 to just 18. While the number of licenses recovered slightly to 30 by late July – holding steady through mid-December – it remains well below the government’s cap of 50.
