Average Wager Per Player Holds Up Despite Challenging Conditions: Citigroup
MACAU, SAR (September 22, 2023) — Average wager per player remained steady month-on-month at about HKD20,314 (MOP20,907/ US$2,597) in September – an astonishing 58 percent increase compared to the corresponding period of 2019 despite unfavorable weather conditions and the state of the Chinese economy, Macau News Agency report a recent survey conducted by Citigroup (Citi) concludes.
“The results from our table survey shows that players are not going to be deterred by anything less than a direct-hit typhoon or a ‘black’ warning-level rainstorm,” said analysts George Choi and Ryan Cheung.
Furthermore, the survey highlighted an upward trend in average minimum bets across Macau, indicating an improvement in player quality in the grind mass areas.
In September, the average minimum bet increased to HKD2,123, compared to HKD2,063 in August 2023.
The Citi analysts also found that the premium mass segment had experienced a slight decline of 8 per cent in total wagers, amounting to HKD8.8 million.
The number of players in this sector seen also decreased by per cent to 431, compared to 468 in August 2023.
However, the wager per player remained flat month-on-month, indicating a “seasonality-defying trend”.
September – sandwiched between the summer holidays and the National Day Golden Week – historically demonstrates a decline in wager per player.
The strength observed so far this month was attributed by the analysts to the presence of what they termed “high-rolling whales”
The survey identified 17 whales – defined as players betting HKD100,000 or more per hand – compared to only seven in September 2019.
Notably, the Player of the Month was spotted at the Chairman Club in Wynn Palace, wagering HKD500,000. At the Horizon Room of Galaxy Macau, two whales, along with 15 other players, wagered a total of HKD980,000 in aggregate at one baccarat table after a series of eight consecutive banker wins.
Additional takeaways from the survey included Galaxy Macau gaining the largest market share in terms of total premium mass wagers observed.
SOURCE: Macau News Agency (MNA).Tags: Average wager per player, Macau SAR, Citigroup (Citi)