According to a monthly survey conducted by Citi analysts, the premium mass gaming segment in Macau demonstrated remarkable resilience in September, defying seasonal trends and adverse weather events.
Despite the recent impact of Super Typhoon Saola, the performance of Macau’s prestige mass segment was remarkable. The September 2023 survey revealed that total wagering decreased by only 8% month-over-month to HK$8.8 million (approximately US$1.13 million). Similarly, the observed total number of participants decreased by 8% to 431. This was contrary to historical patterns, as the period between the summer holidays and Golden Week in October is typically marked by significant declines in both data points.
The average wager per participant was HK$20,314 (approximately US$2,514), an increase of 58% compared to September 2019. Citi analysts George Choi and Ryan Cheung interpret this data to indicate that premium players in Macau are not readily deterred by inclement weather unless it is extreme. In addition, this resiliency suggests that the condition of the Chinese economy has little impact on the gambling industry in Macau.
The excellent performance in September can be attributed to the presence of “whales” who wagered HK$100,000 or more per hand. In September, the survey identified 17 of these whales, which is more than double the number observed in September 2019. Notably, the largest whale wagered roughly $63,950 per hand at the Chairman Club at Wynn Palace.
Two giants and fifteen other players collectively wagered HK$980,000 (approximately US$125,344) on a single table in Galaxy Macau’s The Horizon Room. Citi reports that Galaxy continues to be the leader in terms of the accumulated wagers.
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Original story by: Asia Gaming Brief
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