In January 2025, Macau's premium mass gaming sector exhibited notable growth, as revealed by the latest survey from Citigroup. The investment bank's analysis showed an increase in total wagers to HK$12.8 million ($1.6 million), marking an 11 percent rise compared to the HK$11.5 million ($1.5 million) wagered in the same period in 2024. This growth underscores the rising allure of the premium mass market, pulling in players willing to place sizeable bets. This aligns with existing research suggesting that Chinese players continue to show strong spending tendencies in Macau. The January survey by Citigroup’s team, including analysts George Choi and Timothy Chau, recorded an uptick in the number of premium mass players, with a count of 636 compared to 534 from the previous year, reflecting a 19 percent increase. This growth trend, driven partly by favorable economic conditions and Macau's reputation as a premier gaming destination, suggests the segment’s appeal to a broader clientele.
Detailed Insights into Player Wagers and Demographics
Despite the increment in total wagers, the average bet per player saw a minor dip, averaging HK$20,160 ($2,589), slightly down from HK$21,581 ($2,772) in January 2024. Notably, the number of 'whales', or high-stakes players, decreased slightly, with 24 in January 2025 compared to 27 in the previous year. However, this did not dampen the overall betting volume, which remained robust. 'Whales' are players whose individual bet sizes range from HK$100,000 to HK$500,000 ($12,800 to $64,000) per hand or more. Analysts observed that wagers made by these high-stakes whales increased by 37 percent, reaching an average bet size of HK$195,000 ($25,000). This rise was significantly supported by a large HK$1 million ($128,400) bet at the Londoner, marking the first such wager at this property since its opening in September 2024.
Even without this exceptional wager, the average bet size was up 12 percent. While the gaming activities remained strong overall, the typical slowdown before the Chinese New Year was evident. This year, the Chinese New Year Golden Week is scheduled earlier, from January 28th to February 4th, unlike last year's February 10th to 17th period. Nevertheless, analysts Choi and Chau maintained a forecast for a 2 percent year-on-year decline in January 2025’s gross gaming revenue (GGR), anticipated at MOP19 billion ($2.36 billion). However, positive growth in GGR is expected for the combined months of January and February.
Market Dynamics and Technological Advancements
Among the casino operators, Sands China led the premium mass segment with a 28 percent share of observed wagers, up from December 2024’s 23 percent. Galaxy came next with a 27 percent share, slightly down from 26 percent in December 2024. Conversely, Wynn observed a drop in its market share, a likely consequence of major renovations ongoing at the Wynn Macau’s Encore Tower. The Citigroup survey also provided an update on smart table deployment throughout Macau’s casinos. Galaxy Entertainment Group has become the second operator to fully integrate smart tables in its mass baccarat areas, following MGM China, with an addition of 74 smart tables in the base mass area and nine at StarWorld.
Sands has also pushed forward with its smart table deployment, adding new tables across its various locations at the Venetian, Sands Macao, and the Parisian. Currently, about 80 percent of Sands’ tables are smart-enabled. Wynn expanded its smart table offerings with 72 at Wynn Macau and 60 at Wynn Palace, reaching approximately 60 percent smart table share.
Meanwhile, City of Dreams experienced little change, but Studio City has completed its deployment. Consequently, Melco’s properties are now about 50 percent smart-enabled. A significant addition was made at SJM’s Grand Lisboa with 63 new smart tables in its base mass area. This expanded adoption of smart tables contributes to Citigroup's 7 percent growth forecast for Macau's GGR in 2025, as these enhancements are expected to boost game speed and increase the number of games dealt per hour.
Source: Macau Premium Mass Players Continue to Grow in January: Citigroup, Asia Gaming Brief, January 13, 2025.
Posted by Wizard
Jan 13 2025
Jan 13 2025
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