Revenue from high-stakes gambling (VIP gambling) in Macau fell by 7.4 per cent in the second quarter of the year compared to the previous three months, according to data released by the Gaming Inspection and Coordination Bureau (DICJ).
Casinos collected MOP13.31 billion (USD1.66 billion) between April and June from VIP baccarat gambling, compared to MOP14.37 billion (EUR1.64 billion) between January and March, the DICJ revealed.
The figure is still far from pre-pandemic levels.
Between April and June 2019, high-stakes gambling totalled MOP34.61 billion in the second quarter of that year.
On an annual basis, the amount between April and June 2024 represents an increase of 9% compared to the same period in 2023, when VIP gambling brought in MOP12.2 billion (EUR1.39 billion).
The total accumulated from high-stakes gambling in the first six months of this year was MOP27.69 billion, the DICJ added.
As the world’s gambling capital, Macau is the only place in China where casino gambling is legal.
During nearly three years of strict restrictions against the COVID-19 pandemic, which ended in December 2022, the six gaming operators – MGM, Galaxy, Venetian, Melco, Wynn, and SJM – accumulated unprecedented losses, and the government was forced to use the extraordinary reserve to respond to the crisis, as a substantial portion of government revenue comes from gambling taxes.
