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3.9% year-on-year.

VIP figures for the third quarter represented the "lowest mix ever" relative to the public market, while official figures from the GGRAsia's regulators for gaming inspections and coordination bureau showed revenues from current high roller baccarat represented 52% of total gaming revenue.

Union Gaming Securities Asia reported that its mass market segment, which includes slots and live multi-game electronic tables, likely benefited from the $4.1 billion opening of Wynn Palace Cotai from Wynn Resorts Limited, which offers 1,145 slots in August, while Las Vegas Sands Corporation opened 2,500 such machines in the $2.5 billion Parisian Macao in September.

Securities companies criticized the practice of "table reclassification" that is often reclassified to VIP zones, but declared that public market gambling is likely to have expanded 11% year-on-year given the number of businesses reported.

A statement from Union Gaming Securities Asia Limited analyst Grant Govtsen said: "[Gaming Inspection and Coordination Bureau] quarterly figures are no longer accurate due to table reclassification." "Data reported by Macau's "Big Six" operators showed that the popular market table [earnings] actually grew 11% year-over-year in the third quarter of 2016. This is important because it shows that the public is turning a corner. We believe the premium public is also growing within 11% public table growth during Q3 2016. And while estimates remain more cautious about VIP for a variety of reasons, I think VIP may be on the cusp of growth."

 "table reclassification," which takes place at the operator level and has little to do with official game inspection and coordination bureau policies, often ends up being excessive when counting VIP gross game revenues at the expense of the public market. Smoking is generally permitted in VIP areas, but such luxuries are not offered in public market areas, and the definition of high roller sections is based on whether the game is physically separated from the main casino floor, rather than played.
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Tuesday, March 5, 2024
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