Citigroup survey finds more casual players in Macau in April

A decline in wager per player was offset by a 60-per cent year-on-year increase in player numbers.

Macau.- Citigroup has conducted its April survey of Macau’s premium mass gaming tables and concluded that business looks resilient ahead of the Labour Day break. The wager by player was down 5 per cent year-on-year, likely because the April 2023 survey was conducted on the Friday before the Labour Day holidays. The decline is more than offset by a 60-per cent increase in player numbers and 53-per cent increase in the total wager (US$1.4m).

There were 568 premium-mass players seen in April’s survey. The wager per player fell by 5 per cent to HK$19,467, but this is likely due to the higher player count, with relatively more casual premium players versus April 2023. 

The survey observed 18 “whales” (players with bets of HK$100,000 per hand or more) versus 14 a year earlier. Citigroup spotted whales at all casino operators except SJM Holdings. George Choi and Ryan Cheung noted that some players were likely waiting until the Labour Day break from May to 5 to travel to Macau.

Citigroup has forecast Macau’s GGR will reach MOP$18.5bn (US$2.3bn) in April. That would be up 26 per cent from the prior-year period, but down 5 per cent from the MOP19.50bn recorded in March. Cumulatively, Macau’s GGR for the first three months of 2024 was MOP$57.3bn (US$7.11bn), up 65.5 per cent year-on-year and implying a full-year run rate of around MOP$229.2bn (US$28.4bn).