Macau witnessed its best-ever performance in the premium mass segment during the Chinese New Year (CNY), with Galaxy Entertainment emerging as the market share winner, according to Citigroup.
In a continuous market survey conducted by the investment bank Citigroup, the research team observed a robust performance in premium mass segments during the CNY Golden Week, marked by the highest player count since reopening and a record-high total wager.
Citigroup notes that the number of premium mass players observed during this year’s CNY was 777, which is only 16 percent less than that of CNY-19. However, the total wager observed amounted to a record-high HK$23 million ($2.9 million), which is 49 percent higher compared to CNY in 2019.
Analysts George Choi and Ryan Cheung note that the figures above imply that the quality of the players remains ‘extremely high’, as the average wager per player of HK$29,624 ($3,788) is 77 percent higher than that of CNY in 2019. It is merely HK$9 ($1.2) less than October 2023’s average of HK$29,633 ($3,789).
Based on the survey results, the research team expects that the increase in Macau’s visitation during the CNY Golden Week will not materially dilute the quality of the premium mass players.
The number of whales observed was a record-high 41 compared to 27 during CNY in 2019. In this context, a ‘whale’ describes players whose bet size ranges from HK$100,000 to HK$500,000 ($12,800 – $64,000) per hand or more.
Galaxy as premium mass market share winner
The brokerage concludes that Macau gaming operator Galaxy Entertainment ranks number one in the premium mass segment survey, with a 28 percent market share. This represents a market share gain, as Galaxy’s market share was only 25 percent last year and 24 percent in 2019.
‘Its Horizon Room at Galaxy Macau remains the top premium mass room in terms of total wager, observing a record-breaking HK$4.2 million ($520,000) this month. We saw 10 whales while we were there, which is the most seen in a single room.’
The survey also finds that Sands’ Apex Room at Plaza is the top premium mass room in terms of wager per player at HK$66,545 ($8,509).
‘This is also the only room in Macau where we saw HK$30,000 ($3,836) minimum bet tables, with a total of four present.’
Baccarat insurance bets at MGM
Recently, baccarat insurance bets have been offered at the Supreme high-limit rooms at MGM Macau and MGM Cotai. Citigroup notes that if the insurance bet is perceived by players as an effective way to minimize losses and gains popularity among players, this will enhance hold rates.
In addition, the survey also finds that Macau casinos continue to offer small freebies on the floor to keep players engaged including, for example, Peking Duck at the Qilong Club at City of Dreams, Moutai ice cream at both Wynn Palace and Studio City, and Irish coffee at Grand Lisboa Palace.
