Macau casinos: Citigroup reports rise in premium mass wagers in October

Citigroup says premium mass wagers in October total HK$27.2m (US$3.5m).

Macau.- Citigroup has reported that premium mass wagers in Macau during October reached HK$27.2m (US$3.5m). That’s an 81 per cent increase compared to October 2023 and an 18 per cent rise from Chinese New Year 2024.

The count of premium mass participants reached a new high at 966. That’s a rise of 90 per cent in year-on-year terms. However, the average bet per player was down per cent at HK$28,150 (US$3,625), which still stands as the third-highest on record.

The survey observed 62 whales (players with bets of HK$100,000 per hand or more), up 88 per cent year-on-year and up 51 per cent when compared to the Chinese New Year 2024. Galaxy represented approximately 29 per cent of the total premium mass wager observed.

The “Player of the Month” was spotted placing a bet of HK$420,000 (US$54,083) at the Horizon Room in Galaxy Macau. At the Chairman Club of Wynn Palace, a group of five whales collectively wagered HK$11m (US$1.4m) on a single hand, contributing to a total of 12 observed at the venue. At City of Dreams, nine whales were observed betting between HK$100,000 (US$12,877) and HK$400,000 (US$51,507), while five whales similar bets at the Sands Apex Room at Plaza.

See also: Tourism in Macau: 23m visitors in first eight months of the year

Citigroup forecasts 5% growth for Macau GGR in October

Citigroup has projected that Macau’s gross gaming revenue (GGR) for October will reach MOP20.5bn ($2.56bn), a 5 per cent year-on-year increase. Analyst George Choi said the growth would be driven by strong advanced hotel bookings and robust demand from affluent players.

The report highlights optimistic expectations for the National Day Golden Week, with GGR anticipated to average around MOP900m ($112m) per day during the holiday period, aligning closely with the run rates observed during this year’s Chinese New Year and Labor Day holidays.

Citigroup said gaming demand from the Premium Mass segment, which represents approximately 60 per cent of total mass GGR, continues to be robust. However, its most recent survey conducted in September 2024 indicated a decline in average baccarat minimum bets for the first time since reopening from the pandemic, signalling potential weaknesses in the grind mass sector.