Galaxy Entertainment Group has emerged from the pack as Macau’s new leader in premium mass, aided by the recent opening of the uber-luxury Capella at Galaxy Macau, according to Citigroup.
In a note issued Monday following their latest monthly Macau table survey, Citi’s George Choi and Timothy Chau said they had observed a 32% year-on-year increase in total premium mass wager to HK$16.0 million during their most recent visit. With the number of premium mass players seen in Macau’s premium mass gaming areas up 18% to 681, this implies an 11% year-on-year increase in average wager per player to HK$23,536.
What caught their eye, however, was that the top three “whales” they witnessed – one with a HK$1 million bet and two with a HK$500,000 bet – were all playing at Galaxy properties Galaxy Macau or StarWorld.
“On our count, Galaxy has leapt to the pole position in our survey with a 35% share in total premium mass wager observed, likely reflecting Capella’s success in appealing to whales,” they wrote, adding that 12 of the 35 whales they saw were at Galaxy Macau. “Sands ranks No.2 in our survey with a 25% share.”
While the analysts stated that the weekend’s Sandy Lam concert at The Venetian Arena likely aided Sands’ premium mass performance, they also pointed out that a new progressive baccarat jackpot offering players the chance to win HK$5 million or more was a notable addition to the company’s gaming floors.
The progressive jackpot is a Lucky 6 and Lucky 7 side bet requiring players to wager an additional HK$500 in base mass areas or HK$2,000 in premium mass rooms. A player wins the jackpot if they win the hand with a total of 7 over 6 and where all cards are of the same suit – similar to a royal flush in Caribbean Stud.
Citi wrote, “In our view, if this progressive jackpot succeeds in motivating players to increase their side bet wagers, Sands’ gaming volumes and hold rates could increase, which could translate into market-share gain.”
