Sands China’s share of the Macau premium mass market appears to have jumped by 14 percentage points to 37% in June, likely on the back of a recent concert series by Hong Kong performer Jacky Cheung, according to Citigroup Investment Research.
In a note, Citigroup analysts George Choi and Ryan Cheung said the increase was based on “total premium mass wager observed” during a June survey of Macau’s gaming floors, which also found that the number of premium mass players and the size of their average bets was significantly higher at The Venetian Macao than it had been in May.
This, the analyst said, was likely due to the Jacky Cheung concert series as he continues a run of 12 concerts at Cotai Arena between 9 June to 2 July.
Providing more specifics on their observations, Citigroup said the number of players seen at The Venetian Macao’s premium mass tables during checks was 125, up from 113 in May, with the average wager amounting to HK$27,303 (US$3,485) – up from HK$17,142 (US$2,190) in May.
Given added impetus by the four-day Dragon Boat Festival holiday, results were even stronger at other Sands China properties with the analysts revealing, “The Apex room at Plaza (located alongside Venetian on the Cotai Strip) tops our premium mass survey with an average wager per player of approximately HK$96,500 (US$12,325). The Apex room at the Londoner ranks second at approximately HK$53,438 (US$6,825).”
One player, they said, had made a HK$600,000 (US$76,625) baccarat bet from a HK$10 million (US$1.28 million) chip stack – described as the “single biggest chip stack” they had witnessed since resuming regular table surveys in January.
According to Choi and Cheung, Sands China outperformed the market in June, with the number of premium mass players seen rising 12% month-on-month to 414 but the average premium mass wager falling by 2% to HK$21,995 (US$2,810).
Citigroup’s observations come after investment bank JP Morgan recently said a series of high-profile concerts held at some Macau integrated resorts were playing a significant role in the city’s post-COVID recovery and helping “move the needle” in the mass market gaming sector.
