Casino Fortuna set to switch off lights Tuesday with VIP gamblers back in action

According to government information, the Gaming Inspection and Coordination Bureau will cooperate with the Labour Affairs Bureau to ensure that the casino operator honours its promises of safeguarding employees’ remuneration packages and career prospects.

Casino Fortuna is one of three satellite businesses slated to close their doors by the end of this month, the deadline for the shuttering of all such operations dependent on official concessions.

For November, Macau recorded a gross gaming revenue of MOP21.1 billion (US$2.63 billion).

Davis Fong Ka Chio, a University of Macau scholar specialising in commercial gaming, told Macao Daily News that the gradual closing of satellite casinos had a contributing role to play.

‘In recent months, several satellite casinos have closed,’ the scholar explained.

‘Before shutting down, some long‑time gamblers made a last hurrah, rushing to withdraw funds from their accounts and take part in gambling activities.’

‘This gave gaming revenue a short‑term boost,’ he added.

With a month to go until 2025 wraps up, Macau has accumulated a total of MOP226.5 billion in gross gaming revenue, 1.5 billion shy of the full‑year forecast of MOP228 billion set by the government.

Speaking of the year-end estimate, Fong is optimistic. He believes casino revenues will soar to a range of MOP246 billion to MOP248 billion.

J.P. Morgan analysts wrote in a recent note that December could usher in a revenue growth rate of 15 per cent to 20 per cent compared to last year.

Fong also attributed a return of VIP punters and near‑2019 visitation to the perceived momentum.

Echoing his positive view is Vitaly Umansky, a Seaport Research Partners analyst, who noted that ‘the month benefited from fairly normal VIP hold (although there was variability among operators) and continued to be driven largely by higher‑end play’.

His short‑term prediction also expects a year‑on‑year rise of 20 per cent for next month due to a weak December last year when President Xi Jinping was in town for handover festivities.

‘While Macau’s premium segment has been strong following recovery from Covid that began in early 2023, the base mass segment (especially the overnight base mass casino customer) has remained relatively weaker,’ he wrote.

‘Although there are some indications that mid‑tier play is improving along with the higher end during the summer months.’

The information he provided shows that year‑to‑date gross gaming revenue accounts for 84 per cent of 2019’s same period.

Mass‑market‑wise, GGR is about 118 per cent, while VIP remains at roughly 31 per cent.

Within the mass segment, premium play is about 47.5 per cent higher than the 2019 level, whereas base mass continues to lag, around 10 per cent below 2019.