GGR surge seemingly sparked by direct VIP, ultra-premium mass gaming customers

jul25

VIP play in Macau during the second quarter saw a stark yearly increase of over 22.6 percent, even as the gaming mecca continues its focus on mass and non-gaming.

According to the most recent data from the SAR’s Gaming Inspection and Coordination Bureau (DICJ), VIP Baccarat revenue amounted to nearly MOP16.33 billion ($2.02 billion) during the quarter, a sequential rise of nearly 13 percent.

The figure paled in comparison to non-VIP Baccarat play, whose revenue reached MOP35.58 billion ($4.4 billion). However, the figure was up by just 2.7 percent yearly and 3.67 percent sequentially.

Slot machines performed well during the period, with some MOP3.51 billion ($434 million) in revenue during the quarter, up by 7.33 percent quarter-to-quarter and 9.4 percent yearly.

Meanwhile, Live Multi Game revenue came in at MOP1.26 billion ($155.8 million), rising by 4 percent sequentially and 10.88 percent yearly.

Macau continued to operate a total of 30 casinos (including satellite operations) during the quarter, with 13 under the wing of SJM, four pertaining to Galaxy, five to Sands China, two to Wynn, four for Melco and two for MGM.

https://agbrief.com/news/macau/17/07/2025/macau-vip-play-up-strongly-in-2q25-topping-2b/?utm_source=Asia+Gaming+Brief&utm_campaign=0ecd87fff4-AGB%3A+%2302185+Thursday%2C+17th+July%2C+2025&utm_medium=email&utm_term=0_51950b5d21-0ecd87fff4-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2302185+Thursday%2C+17th+July%2C+2025%29&goal=0_51950b5d21-0ecd87fff4-%5BLIST_EMAIL_ID%5D&mc_cid=0ecd87fff4&mc_eid=31e20475e6


 jul25

The unexpected resurgence of Macau gaming revenues over the past two months, which culminated in June GGR smashing consensus at 19% year-on-year growth, appears to have been supported by the performance of the high-end gaming segments, according to investment bank JP Morgan.

Analysts said in a Tuesday note that their on-the-ground checks indicate direct VIP and ultra-premium mass performed particularly well throughout the month, enough to drive June revenues back to 88% of pre-COVID levels – by far the highest recovery rate since the pandemic.

The June result also saw combined Q2 GGR come in 8% higher year-on-year and 6% higher sequentially at MOP$61 billion on the back of a similarly impressive May.

So, what drove the high-end gaming performance? According to JP Morgan’s DS Kim and Selina Li, key factors appear to have been the success of marquee concerts and events – specifically Jacky Cheung’s ongoing residency series at Galaxy Arena and three concerts by G-Dragon at the same venue early last month which helped offset the weak seasonality.

The analysts also point to improved sentiment among high-end patrons, perhaps due to positive wealth effects from stock markets, and the continued ramp-up of Capella Macau – the uber-luxury all-suite tower at Galaxy Macau that soft-opened in late April.

https://asgam.com/2025/07/01/jp-morgan-macau-ggr-surge-seemingly-sparked-by-direct-vip-ultra-premium-mass-gaming-customers/

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