Good morning. Thar she blows! A recent Citigroup survey highlights a notable surge in gaming expenditures in Macau, particularly among high-stakes players known as “whales,” whose average wagers have increased by 43%, reaching HK$655,000 ($84,100) per hand. Interestingly, yesterday both Macau and Hong Kong announced plans to start testing the use of official digital currencies. Meanwhile, Thailand’s ruling Pheu Thai Party is championing its casino-entertainment complex initiative as a means to legalize underground gambling and generate tax revenue for the government.
What you need to know
- Macau’s gaming sector thrives amid China’s economic woes, with high-stakes wagers rising 43% and premium mass player numbers up 42%.
- Both Macau and Hong Kong monetary authorities have announced significant steps towards the introduction of digital currencies.
- Thailand’s ruling party advocates casino entertainment complexes to boost the economy and tap into the $13.7 trillion ‘fun’ economy.
On the radar
- Citigroup cuts Macau’s September GGR forecast to $2.12B amid VIP hold drop.
- Phividec investigates firm allegedly linked to POGO operations.
- Wynn Macau secures three-year loan extension to September 2028.
- Macau visitor arrivals from IVS newly added cities grow by 17.1% in August.
- Philippine Police launches probe into former Chief’s alleged role in POGO escape.
- Alice Guo transferred to Pasig jail, undergoes TB test for ‘lung infection.
AGB Intelligence
MACAU
High-stakes players increase bets in Macau
There has been a remarkable increase in gaming spending in Macau, particularly among high-stakes players, a recent survey from Citigroup reveals. Their average bets have surged by 43%, now averaging HK$655,000 ($84,100) per hand. The number of whales has grown to 228, who together have wagered HK$43.3 million ($5.6 million) year-to-date, surpassing last year’s figures. The premium mass gaming sector is also thriving, with a 42% rise in player numbers and a 36% increase in total wagers compared to the previous year.
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