Citigroup notes 144 per cent rise in Macau wagers

Citigroup notes 144 per cent rise in Macau wagers

Citigroup has completed its monthly survey.

Macau.- A survey conducted by Citigroup on May 3 observed HK$17.7m (US$2.3m) worth of bets. The figure was up 144 per cent when compared to its April 28 survey last year. 

The number of Premium Mass players observed was 775, up 119 per cent year-on-year and almost level with the survey during Chinese New Year (CNY). The average wager per player was up by 11 per cent to HK$22,777 (US$2.915), the second-highest tally of the year behind CNY (HK$29,624).

The survey fell during the Labour Day holiday. Conducted on-site across various premium mass rooms, it highlighted Galaxy Entertainment and Sands China as the primary beneficiaries of increased visitors owing to their hotel room inventories. Citigroup named a Korean national its first-ever non-Chinese Player of the Month. A Korean-speaking host assisted the player at the Horizon Room of Galaxy Macau. 

Analysts observed that the top three players who wagered HK$250k-399k played at the same table at the Horizon Room, which had the highest number of whales (players who place bets of HK$100,000 to HK$500,000). The research team observed 37 whales across all six casino operators, an increase from 14 in April 2023 and four less than during CNY this year.

See also: Macau GGR to reach US$2.5bn in May, analysts say

Macay Labour Day GGR

Meanwhile, JP Morgan has estimated that gross gaming revenue (GGR) for the five-day Labour Day holiday period was MOP4.55bn (US$570m), exceeding initial forecasts. In a note on Monday (May 6), DS Kim, Mufan Shi, and Selina Li, said the daily run-rate reached MOP910m, beating expectations by five to ten per cent, with the quality and diversity of gamblers compensating for relatively modest visitation numbers at 84 per cent of pre-pandemic levels and below Chinese New Year.

JP Morgan noted a faster rebound in mass GGR compared to recent trends, reaching approximately 120 per cent of pre-Covid-19 levels. However, VIP GGR was at 30 per cent. 

The Public Security Police reported that 604,395 visitors arrived in Macau during the holiday period from May 1 to 5. Average daily visitation was 120,879, below the target of 130,000

See also: Macau GGR to reach US$2.5bn in May, analysts say

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