The so-called “base mass” gambling sector in Macao appears to be slowing as the premium mass sector continues to expand, according to Citigroup’s March table survey.
More budget-conscious gamblers – traditionally an important contributor to the SAR’s casino revenue – are spending less, analysts George Chou and Timothy Chau noted in the survey, which was cited by Asia Gaming Brief. Figures show a 9 percent year-on-year drop in average minimum bets.
S&P Global Ratings has described base mass players as more sensitive to changing economic conditions, such as weak employment or earning prospects, than their premium counterparts.
Economic headwinds on the Chinese mainland – Macao’s biggest source of gamblers by far – are likely behind their caution.
[See more: Macao’s gross gaming revenue grew by 7 percent year-on-year in February]
According to Asia Gaming Brief, the segment’s decline “raises questions about the long-term sustainability of the base mass segment and the potential need for casinos to adapt their strategies.”
Citigroup’s report said the premium mass segment total wager had meanwhile increased 13 percent compared with March 2024. A significant rise in player numbers in the sector had offset the reduction in the size of average wagers.
The analysts also commented on casinos’ ongoing rollout of smart table technology. They said City of Dreams’ mass baccarat operations were now entirely smart, meaning Melco had become the city’s fifth casino operator “with full smart table deployment.”
Citigroup maintained its gross gaming revenue forecast for March of 19.5 billion patacas ($2.42 billion), the same as it was a year prior.
