Inside Asian Gaming

IAG AUG 2022年8月 亞博匯 19 請登錄asgam.com訂閱《亞博匯早報》 Sign up to receive IAG Breakfast Briefing at asgam.com MACAU MASS MARKET RECOVERY ONLY IN 2024: MOODY’S 穆迪：澳門中場或 僅在2024年復甦 MACAU’S MASS MARKET SECTOR will reach just 30% of 2019 levels this year and only fully recover in 2024, according to Moody’s Investors Service. Moody’s analysts noted that Macau’s mass segment – expected to comprise its core business in the future given the demise of VIP – remains heavily reliant on tourist numbers which remain suppressed due to COVID-19 prevention measures. As such, mass GGR will only reach 30% of 2019 levels this year, down on the 37% achieved in 2021 and “reflecting the very weak year-to-date performance and following the recent jump in COVID-19 cases and week- long closure of nonessential business venues including casinos.” Mass GGR is tipped to increase to 70% of 2019 levels in 2023 before full recovery in 2024. In contrast, the VIP segment will only recover to between 5% and 10% of 2019 levels even in 2023-24. “China’s crackdown on corruption and illegal gambling activity since 2012 has structurally decimated the VIP segment and reduced its share of overall GGR in Macau,” the analysts said. “VIP contribution to overall GGR had already fallen to 33% in 2021 from 60% in 2014, and the ratio will decline further as China continues to restrict junket operations.” However, “We expect tourist arrivals in Macau to gradually pick up over the next two years, assuming a further easing of travel restrictions in mainland China over the next few quarters, allowing some normalization in travel demand. The pent-up demand over the past two years will help to drive a significant recovery in mass GGR, once pandemic restrictions ease.” 穆迪投資者服務公司 表示，今年澳門的中場市場將僅達到2019年 水平的三成，或到2024年方完全復甦。 穆迪分析師在一份報告中指出，鑒於貴賓博彩業務的基本 消亡，預計未來將成為博彩業務核心的澳門中場業務依然嚴重依 賴於遊客人數。而由於新冠疫情的預防措施，遊客人數持續受抑 制。 因此，今年的中場博彩總收入（GGR）僅將達到2019年水 平的三成，低於2021年的37%，分析師表示：「數據反映了今年 迄今為止非常疲軟的表現，尤其是近期新冠確診病例的激增及為 期一週包括賭場在內非必要營業場所的關閉。」 中場GGR的收入有望於2023年內恢復至2019年水平的七 成，相比之下，在2023年及2024年，貴賓博彩市場將恢復至 2019年水平的5%至10%。 分析師表示：「自中國於2012年以來持續打擊腐敗及非法 博彩活動，從結構上削弱了貴賓博彩並減少其在總體GGR當中的 佔比。貴賓博彩在博彩總收入的比例已經從2014年的六成下降至 2021年的33%，隨著中國繼續對博彩中介的限制，這一比例還 將繼續下降。」 然而，分析師指：「假設內地在未來幾個季度內進一步放寬 旅遊限制，令旅遊需求在一定程度上正常化，我們預計澳門遊客 人數將在未來兩年內逐步上升。一旦疫情限制放寬，過去兩年被 壓抑的需求將有助於推動大規模的GGR復甦。」