Citigroup conducted its monthly survey of Macau’s premium mass gaming sector during Chinese New Year this month, reporting a 17% year-on-year increase in total wager observed and a 13% rise in average wager per player when compared with last year’s new year period.
According to Citi analysts George Choi and Timothy Chau, total wager observed was HK$24.4 million (US$3.1 million), while average wager per player reached HK$29,625 (US$3,790) on a 3% increase in player numbers to 824. The average wager per player represented an all-time high for Citi’s monthly surveys, “indicating that premium mass demand remains robust,” the analysts said.
They also observed an average baccarat minimum bet of HK$2,347 (US$300) – up 5% year-on-year and seemingly pointing to a recovery in grind mass as well.
Citi also noted that SJM has recently opened a new low-limit baccarat area at Grand Lisboa Palace, with three of the area’s 24 tables offering minimum bets of HK$300 (US$38). This makes Grand Lisboa Palace the only Cotai property offering HK$300 baccarat tables, the analysts stated.
Highlighting the broader trend in Macau’s premium customer segment, Choi and Chau said, “Recent retail shop openings across various integrated resorts also reconfirm our view that affluent Mainland Chinese visitors remain willing to spend. The following new retail openings seem to suggest that there are green shoots in retail: Canada Goose at Wynn Palace, Porsche at MGM Cotal, Rolex at Four Seasons, Lululemon and Hoka at Galaxy Macau.”
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