Macau premium-mass wagers down 45% year-on-year in September, Citi survey finds
Analysts at Citigroup described its latest Macau table survey as “one of the weakest in recent history.”
Macau.- Citigroup’s latest table suggests that premium-mass wagering in Macau are down sharply in September. Observed wagers were down 45 per cent year-on-year to HK$6.8m (US$866,785).
The brokerage said the results were among the “weakest in recent history,” with the number of premium-mass players observed declining 20 per cent year-on-year to 401. Average wager per player fell 31 per cent to HK$16,958 (US$2,174), compared with HK$24,550 (US$3,147) in September 2025. Citigroup identified 14 high-stakes premium-mass players, 17 fewer than in August and 13 fewer than a year earlier.
Analysts George Choi and Timothy Chau said casino floors appeared generally quieter than three months earlier, when the FIFA World Cup 2026 had just begun. However, they cautioned against drawing firm conclusions from the survey, noting that it was conducted one week before the Mid-Autumn Festival holiday and about two weeks ahead of China’s National Day Golden Week, which begins on October 1.
“We cannot firmly conclude whether the weak results are a function of players’ lowered willingness to spend or the unfavourable timing of our survey,” the analysts said.
Citigroup has lowered its forecast for Macau’s September gross gaming revenue (GGR) to MOP18bn (US$2.25bn), from its previous estimate of MOP19bn (US$2.38bn). The revised forecast would represent a 4 per cent year-on-year decline in Macau’s third-quarter GGR.
