Popular concerts held in Macau continue to boost the city's gaming revenue, as Citigroup's Table Survey indicates. The survey shows that the average wager per player in the premium mass segment increased by 37 percent compared to November 2019, reaching HK$22,251 ($2,856).
Citigroup noted that MGM's management is 'showing confidence in the market', MGM China's President and Chief Operating Officer Hubert Wang revealed that the company will double the headcount of its international sales and marketing team
Investment bank Citigroup notes Galaxy Macau Phase 3 has a "solid debut" of its premium mass room, recording a 52 percent higher average wager per player compared to pre-COVID levels.
Investment bank Citigroup said in a new research note that they maintain a bullish stance on Macau's gaming industry, anticipating Macau industry-wide EBITDA in 2Q23 to recover to 65 percent of the same period in 2019.
More and more investment bank studies affirm the positive impact of non-gaming activities on financial results. This time, Citigroup says there is apparently a positive impact that the Jacky Cheung concerts bring to Macau's gaming operator Sands.