Citigroup’s latest Macau table survey showed a broad slowdown in premium mass gaming activity in June 2026, with total wagers observed falling 38 percent year-on-year to HK$9.8 million ($1.25 million), the lowest level recorded in the post-pandemic period for the survey, as Citigroup pointed to the ongoing World Cup as a drag on casino demand.
In a June 21st note, Citigroup analysts George Choi and Timothy Chau said the decline was ‘not surprising’ given that Macau gross gaming revenue has historically softened during major global soccer tournaments. The analysts said the World Cup, together with a high comparison base from Jacky Cheung’s concert in June 2025, weighed on the monthly survey results.
The tournament’s expanded format also provides additional context for the slowdown. Citigroup previously noted that this year’s World Cup includes 104 matches, more than double the 51 matches in UEFA Euro 2024 and well above the 64 matches in the 2018 FIFA World Cup, potentially increasing its impact on Macau gaming demand.
‘The final whistle of the soccer tournament will blow on July 19th, and we remain confident that a swift post-tournament recovery will happen,’ Citigroup said.
The survey recorded 448 premium mass players, down 29 percent from June 2025. Average wager per player declined 13 percent year-on-year to HK$21,775 ($2,778), compared with HK$25,130 ($3,205) in June last year.
Citigroup noted that the June 2026 total wager level was similar to the HK$10 million ($1.28 million) recorded in June 2024, when the UEFA Euro 2024 tournament was taking place. The analysts said this suggested major soccer events may temporarily divert some gaming focus from Macau casinos.
The number of high-end players also declined. Citigroup said it observed 24 ‘whales’ during the June survey, compared with 35 in June 2025. The highest-spending player, identified as the ‘Player of the Month,’ was seen at City of Dreams’ Signature Club, wagering HK$680,000 ($86,735). Other notable players included an HK$380,000 ($48,469) whale at Galaxy Macau’s Pavilion North and an HK$220,000 ($28,061) whale at City of Dreams’ Signature Club.
By operator, Melco gained share in total wager observed, with the Player of the Month helping it record 21 percent of survey wagers, making it the most improved operator. Galaxy remained the leader with a 25 percent share, while Wynn’s share fell to 13 percent.
Citigroup also observed 287 premium mass tables with players wagering, out of 739 open tables with dealers. The last time the survey recorded so few premium mass tables in use was December 2024. Average mass baccarat minimum bets across Macau fell 8 percent year-on-year to HK$1,905 ($243), below the HK$2,000 ($255) level for the first time since April 2025.
