Citigroup’s September table survey showed a 43 percent year-on-year increase in average wagers made by premium players at Macao casinos – indicating that high-stakes gamblers remain willing and able to spend despite the economic headwinds rocking the mainland’s economy, Inside Asia Gaming reports.
The bank’s first year-to-date analysis showed 228 so-called “whales” wagered a total of HK$43.3 million (US$5.6 million) between January and September, up from the HK$39.7 million wagered by 224 whales during the first nine months of 2023. Whales are defined as players who bet more than HK$100,000 per hand.
Citigroup analyst George Choi said that average session wagers for premium mass players averaged HK$655,000 in September (up 43 percent from the same month last year), and HK$728,000 across the past five months.
The number of premium mass players for the month was up by 42 percent year-on-year, coming in at 613.
[See more: Whales are ‘still able’ to get funds into Macao casinos]
“In our view, this shows that the quality of premium mass players in general remains robust,” Choi noted. “Despite the weak economy in China, Macao is still getting players who are still very much willing and able to spend.”
The analyst and his team counted 21 whales in their September survey, four more than a year earlier. Their player of the month was spied at Galaxy’s StarWorld Horizon premium mass gaming room, making a bet worth HK$640,000.
However, Sands China was the top performer for the month – claiming 26 percent of the total wagers observed, up from 22 percent in August. Choi also noted that Melco’s rebranding program on its premium mass products appeared to be working, with the concessionaire increasing its share of the wagers to 17 percent (up from an average of 13.5 percent over the previous eight months).
“Based on the quality of the whales we saw at Studio City this month, we believe the rebranding program is already yielding some early success,” Choi said.
