Macau gross gaming revenue jumped 18.6% to $32.5b

Thanks to robust VIP, mass segments.

According to Barclays, Macau gross gaming revenue (GGR) for December 2013 was HK$32.5bn, up18.6% y/y. This means 4Q13 revenue was up 23.9% y/y and 12.3% q/q. Strength appeared in both the VIP and mass segments.

VIP sentiment continued to be strong into December with December VIP revenue being the third strongest after October and March.

Here's more from Barclays:

December VIP rolling volume was strong at +23.5% y/y and revenue was +12.0% y/y. VIP hold rate was at 3.06% in December, slightly lower than the full-year average of 3.16%. 4Q13 VIP volume was +22.7% y/y and +13.8% q/q. VIP revenue was also +18.3% y/y and +12.2% q/q.

Mass table revenue growth continued to remain strong with growth at +35.1% y/y in December, and December was the second strongest month in 2013 in terms of mass table revenue. 4Q13 saw strong growth in mass table revenue at 39.9% y/y and +13.1% q/q. Slot revenue in 4Q13 was +7.4% y/y and +5.9% q/q.

For full-year 2013, overall GGR was +18.6% y/y at HK$350bn. Mass revenue was +34.8% y/y at HK$105bn, VIP revenue was +13.1% y/y at HK$231bn, and slot revenue was +8.6% to HK$14bn.

Galaxy saw some gains in 4Q13 overall market share (vs 3Q) due to VIP volume share gains. Sands saw slightly lower overall market share in 4Q13 due to lower VIP hold rate, but it saw continued mass market share gains in 4Q. Remaining players’ 4Q13 market share remained largely stable vs 3Q13.