A recent table survey from Citigroup reveals a significant acceleration in gaming spending in Macau, with the average wager for high-stakes players—commonly referred to as ‘whales’—increasing by 43 percent.
A ‘whale’ is defined as a player whose bet size ranges from HK$100,000 to HK$500,000 ( $12,800 to $64,000) per hand or more.
According to the survey data focused on the premium mass gaming sector, the number of whales has seen an impressive uptick. In the first year-to-date analysis, 228 whales wagered a total of HK$43.3 million ($5.6 million), surpassing the previous fiscal year’s total of HK$53.97 million ($6.9 million) from 224 whales. This indicates a robust willingness to spend among the wealthiest gamblers in Macau.
The average wager for Players of the Month reached HK$655,000 ($84,100), a remarkable increase compared to the FY23 average of HK$457,000 ($58,678). Notably, this trend appears to be accelerating, with the average wager over the past five months climbing to HK$728,000 ($93,474).
Growth in premium mass players
In addition to high rollers, the survey highlights a significant recovery in the premium mass segment. The total wager observed in September 2024 amounted to HK$11.9 million ($1.53 million), representing a 36 percent year-on-year increase from HK$8.8 million ($1.13 million) in September 2023. The number of premium mass players surged by 42 percent, reaching 613.
Although the increase in player count has diluted the average wager per player by 5 percent year-on-year, this influx of casual players has contributed to a notable rise in overall gaming activity. Analyst George Choi observes, ‘Despite the weak economy in China, Macau is still attracting players who are willing and able to spend.’
Citigroup‘s Whale Watch shows that the number of whales betting HK$100,000 or more has increased to 21, up four from September 2023. A standout player at StarWorld’s Horizon made a bet of HK$640,000 ($82,170), with multiple instances of whales placing substantial bets across various venues.
Sands China has emerged as a leader in the premium mass sector, capturing a 26 percent share of total wagers, up from 22 percent in August 2024. Solid gaming volumes were observed at the Londoner casino, despite ongoing renovations.
Meanwhile, Melco Resorts & Entertainment has initiated a rebranding program for its premium mass products, yielding a 17 percent share—significantly higher than the 13.5 percent average seen in previous months.
In a bid to elevate the efficiency of gaming, all 43 tables at Galaxy Macau‘s Pavilion North Room and 21 tables at Star World’s Horizon Room have been upgraded to smart gaming tables, reflecting a commitment to innovation in the gaming landscape.
