Macau’s premium mass segment was once again acting as a gross gaming revenue (GGR) ‘savior’ in August, with average wagers rising sharply despite Citigroup observing fewer players in its latest monthly table survey.
Total wagers observed reached HK$14.3 million ($1.8 million), up by 7 percent from HK$13.4 million ($1.7 million) in August 2025. The number of premium mass players fell by 16 percent year-on-year to 525, but the average wager per player jumped by 27 percent to HK$27,284 ($3,500).
‘It appears Premium Mass is once again the savior which drags GGR out of negative territory,’ analysts George Choi and Timothy Chau wrote in the report.
Citigroup said the survey provided evidence that concerns over Macau’s weak GGR performance in June and July were ‘likely overdone.’ The brokerage said premium mass players remained willing and able to spend on the city’s gaming and non-gaming products.
The brokerage expects GGR growth to normalize following disruption linked to the FIFA World Cup. It maintained its forecast for Macau’s casino GGR to grow by about 6 percent in 2026.
Whale spending rises 54%
Citigroup identified 31 ‘whales’ during the August survey, seven more than in July but one fewer than in August last year.
Despite the slight year-on-year decline in their number, the average wager per whale surged by 54 percent to HK$243,548 ($31,200), compared with HK$158,125 ($20,300) a year earlier.
The largest wager observed was HK$820,000 ($105,100) at the Chairman’s Club at Wynn Palace. Citigroup also recorded wagers of HK$680,000 ($87,200) at Wynn Encore and HK$650,000 ($83,300) at the Signature Club at City of Dreams Macau.
Wynn takes 29% share
Wynn led the premium mass survey with a 29 percent share of total wagers observed by Citigroup, up from 18 percent in August 2025.
The brokerage recorded seven whales wagering between HK$100,000 ($12,800) and HK$820,000 ($105,100) at the Chairman’s Club. Its average wager of HK$117,300 ($15,000) was the highest among the 19 premium mass rooms visited during the survey.
Mass-market minimum bets fall
Separately, the average minimum bet at Macau’s mass-market baccarat tables declined by 13 percent year-on-year to HK$1,901 ($244), from HK$2,191 ($281).
Citigroup observed 18 tables at a new gaming area near the southwest entrance of City of Dreams, including 13 staffed tables with minimum bets ranging from HK$300 ($38) to HK$1,000 ($128).
The brokerage said this was the first time it had seen City of Dreams price a baccarat table as low as HK$300 ($38).
