Qi Long at Studio City casino resort sees successful launch

The recently established premium mass table games sector of the Studio City casino resort in Cotai, nicknamed Qi Long, was a smash, according to Citigroup’s January evaluation of Macau premium-table bets.

According to a note from analysts George Choi and Ryan Cheung, a significant number of important market players are already drawn to the new area. Senior vice president and property general manager Kevin Benning of Studio City noted the Qi Long zone’s December opening in the Phase 2 Epic Tower of the complex and said that the gaming area is gradually gaining economic traction.

Citigroup found that the Qi Long zone in Studio City had 12 tables running with minimum bets of around HKD6,000 (US$767.40), two of which have HKD20,000 minimums. Eleven tables were in use when the researchers visited, and 17 players had wagered “over HKD1 million, equivalent to an average wager of HKD61,294.”

Of all the big premium mass rooms that Choi and Cheung looked at, Qi Long at Studio City had the second-highest wager per player. The researchers also observed that five of the 17 participants under investigation were high-stakes bettors, with bets ranging from HKD 100,000 to HKD 270,000.

The number of premium mass players found in January increased by 32.2 percent month over month to 534 from 404 in December, according to Citigroup. A surge of over 26% was seen in the total bets in the January poll, which came to HKD11.5 million. The average wager per player in January 2019 was HKD14,840, up 45.4% from December, even though it decreased by 4.8%. Instead, it averaged HKD21,581 in January.

Citigroup also revealed that from 20 in December to 27 in January, there were 35.0% more “whales”—players who bet HKD100,000 or more per hand—month over month. When the experts saw that six baccarat tables at MGM Macau and MGM Cotai offered an “insurance” bet for the game, they were taken aback. This suggests that, like other exotic bets in casino games, baccarat’s popularity among players may enhance the house advantage.

According to Citigroup, Genting’s high-limit areas have long offered this kind of insurance bet, which is promoted as a “privilege” for elite players.

Original story by: GGRAsia