Morgan Stanley: Macau premium mass players increase spending

High-end gamblers “come more often” and “gamble more”.

Macau.- According to Morgan Stanley analysts Praveen K Choudhary and Gareth Leung CFA, premium-mass gamblers are spending more, surpassing the pre-pandemic level. High-end gamblers “come more often” and “gamble more”, they say.

They wrote: “Operators saw spend per head for premium mass gamblers remain above the 2019 level. Some even noticed high-end customers visit Macau more often despite a sequential decline in China consumption/overall macros.”

They noted that gamblers in their 30s are displaying similar spending patterns to players in their 40s and 50s.

Morgan Stanley said it expected Macau’s concessionaires “to follow the Macau government and increase wages by 2 to 3 per cent in 2024.” It said the operating expenditure portion of non-gaming investment, and potential competition on casino sales, “could put upward pressure” on casino operating costs.

See also: Macau chief executive: 2023 gaming revenue to exceed US$22bn