The utilization of premium mass gaming tables across Macau’s casinos is improving as operators continue to improve their cost management, according to Citigroup.
In their monthly research note outlining trends in the premium mass segment, analysts George Choi and Ryan Cheung said they had witnessed an improvement in the premium mass table utilization of most concessionaires, measured by dividing number of tables with players by the total number of tables with dealers.
The March survey recorded a utilization of 44%, “higher than that of the past several normal months, likely indicating the [cost consciousness of the six] casino operators operating the … tables deployed.”
It also points to resilience in the sector, with premium mass wager observed during the March survey up 73% year-on-year to HK$10 million, including a 71% increase in premium mass players seen to 482.
Wager per player of HK$20,817 was “marginally higher versus March 2023 [and] implies that the quality of players we saw remains largely unchanged year-on-year,” the analysts said.
“More importantly, the March 2024 survey was conducted on a normal Friday, not a long weekend or major holiday, and our estimated wager per player holds up well versus surveys conducted in the past several normal months.
“We think this reflects the resiliency in mainland Chinese luxury spending behaviour.”
Citi added that Wynn had emerged as the new premium mass leader in March with around 25% market share, although MGM continues to perform well to be ranked third overall with around 21% share. Total wager observed at MGM Cotai was similar to that observed during Chinese New Year. The bank said MGM has added two additional baccarat tables featuring a new insurance bet.
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