Amidst recent weather-related disruptions, Macau’s premium-mass segment displayed remarkable resilience, with high-denomination cash bets holding steady. Citigroup’s September snapshot survey of Macau gaming floors revealed insightful trends and surprising strength in the market.
Premium Mass Segment Sees Month-on-Month Dip
Citigroup’s survey showed an approximate 8 percent month-on-month decrease in wagers in the premium-mass segment, averaging about HKD8.8 million (US$1.1 million). This decline can be partially attributed to the adverse weather conditions experienced in early September.
Decline in Total Premium Mass Players
The total number of premium mass players, characterized as high-denomination cash bettors, witnessed a 7.9 percent drop, with 431 players observed compared to 468 in August. Despite this decline, the segment’s resilience remained evident.
Average Wager Per Player Defies Seasonality
One of the most striking observations was the average wager per player, which held steady month-on-month at approximately HKD20,314. This figure represents a remarkable 58 percent increase compared to September 2019, indicating a robust performance in the face of economic challenges and weather disruptions.
The Rise of the Whales
Citigroup attributed much of the strength observed in September 2023 to the presence of “whales” – players with bets of HKD100,000 per hand or more. In this survey, 17 whales were observed, a substantial increase from seven in September 2019, underlining the market’s attractiveness to high-stakes players.
Notable Player of the Month
Citigroup highlighted an impressive player at the Chairman’s Club in Wynn Palace, who wagered a substantial HKD500,000. This exemplifies the allure of Macau’s gaming offerings to high-value patrons.
Rising Average Minimum Bets
The survey also noted a 2.9 percent month-on-month increase in market-wide average minimum bets, reaching HKD2,123 in September. This suggests an improvement in player quality in the grind mass areas, as players appear willing to place higher bets.
Optimism Despite Seasonal Trends
While Citigroup acknowledged the historical trend of September performance declining month-on-month, it expressed optimism about the industry’s resilience and adaptability. With the upcoming October Golden Week, encompassing the Mid-Autumn Festival and China’s National Day, Macau’s gaming industry may see further positive developments, building on its impressive performance in September.