Macau Gaming: June Seen as “Floor” Despite Slower Start

The recent decline in Macau gaming revenue is downplayed by Citi analysts, who advise investors to use June’s numbers as a starting point for 2024.

Although analyst visits to casinos revealed a calmer atmosphere, this was also the season of intense rain and the beginning of China’s university entrance exams, which is often a slow time.

Citi reported “respectable” volumes in spite of the decline. In high-roller rooms, premium mass wagering grew 10% annually, driven mostly by a 31% rise in player volume.

Experts attribute the 16% decrease in the average wager per player year over year to a robust base effect, as high-rolling gamblers were drawn to a significant concert in June.

Citi continued to be optimistic, pointing to a 31% increase in player visits and a 10% increase in wagers—especially considering that their poll was conducted on a day that fell between final exams for universities. 16 “whales” (high rollers) were even seen placing significant bets.

According to the bank, June will be Macau’s worst month in 2024, suggesting that the remainder of the year might be better.

Original Story by: Inside Asian Gaming