Citigroup survey notes rise in premium mass wagers in Macau

The survey found the aggregate of market-wide wagers reached HK$11.4m in March.

Macau.-  Citigroup’s January survey of Macau casinos observed premium mass wagers of HK$11.4m (US$1.47m), a 13 per cent increase year-on-year. Some 645 players observed, a rise of 34 per cent compared to last March.

The survey observed 20 whales (players with bets of HK$100,000 per hand or more). The average wager per whale was HK$179,500 (US$23,146). That’s an increase of 5 per cent in year-on-year terms. The “Player of the Month” was spotted placing a bet of HK$500,000 (US$64,500) at Wynn Palace’s Chairman Club.

The 625 other premium-mass players bet an average of HK$12,430 (US$1,604), down 13 per cent year-on-year. However, analysts say weakness was more than offset by the 35 per cent year-on-year increase in the number of non-whales.

Citigroup expects Macau’s gross gaming revenue (GGR) to reach MOP19.5bn (US$2.44bn) in March.

Macau GGR rises in February

Macau’s GGR for February was MOP19.74bn (US$2.46bn). That’s an increase of 6.8 per cent in year-on-year terms and a rise of 8.2 per cent sequentially. GGR was 77.8 per cent of February 2019’s level.

The figure was boosted by the Chinese New Year (CNY) holiday, which took place from January 28 to February 4. GGR averaged MOP780m (US$97.3m) per day over the holiday period for an aggregate of MOP6.24bn. According to Seaport Research Partners, the figure was down 1 per cent compared to CNY 2024 and 8 per cent compared to 2019. 

Cumulatively, Macau’s GGR for the first two months of 2024 was MOP38bn, up 0.5 per cent from the prior-year period. Macau’s GGR for 2024 was MOP226.78bn (US$28.39bn), up 23.8 per cent year-on-year but down 22.45 per cent compared to 2019 levels (MOP292.45bn). The result surpassed the Macau government’s expectations.