As Macau’s prestigious October Golden Week festivities unfold, Citigroup analysts have reported unprecedented activity in the premium mass betting sector. This period, spanning from October 1 to October 7, has witnessed remarkable betting volumes, reflecting a robust recovery and significant economic stimuli.
According to Citigroup’s latest table survey, the total wagered amount reached a new high of HKD27.2 million (US$3.5 million). This figure represents an 81 percent increase from last year’s survey and an 18 percent rise from the previous Chinese New Year. The volume of bets placed during this holiday showcases the resilience of Macau’s gaming sector amidst fluctuating economic conditions.
Significant player engagement and spending patterns:
The surge in betting volumes can also be attributed to the notable increase in gambler participation. The survey highlighted a record 966 premium mass players, marking a 90 percent surge from the previous year. Despite this influx, the average wager per player slightly decreased by 5 percent year-on-year to HKD28,150. This amount ranks as the third highest in Citigroup’s records, demonstrating a stable spending pattern among gamblers.
Citigroup’s observations are supported by additional data indicating that nearly 86 percent of Macau’s visitors during the initial days of the holiday were from the Chinese mainland. This demographic shift underscores the significant impact of China’s recent economic stimulus measures, which have invigorated players’ enthusiasm for high-stakes gambling.
The presence of high-value gamblers, often referred to as ‘whales’, was particularly pronounced. A total of 62 whales were observed across various casinos, with the Galaxy Macau and Wynn Palace being notable hotspots. At these locations, substantial bets were placed, with individual wagers reaching as high as HKD420,000.
Brokerage firm CLSA also provided insights, noting that the minimum bet levels during this period have remained consistent with previous visits, ranging from US$62 to US$624. The firm’s analysts pointed out the popularity of the new Lucky Seven baccarat bet, which has attracted significant attention at major venues like City of Dreams and The Venetian.
As GGRAsia reports, CLSA analysts Jeffrey Kiang and Leo Pan said: “We saw heavy promotion for each casino’s rewards programmes, including casino staff directly offering membership cards to patrons on the gaming floor.”
Macau’s tourism and economic outlook:
The influx of visitors has surpassed expectations, with early figures indicating a 5 percent increase over the 2019 levels during the first three days of the week. By October 6, the total number of visitors reached approximately 916,215, mainly from the Chinese mainland. This surge underscores the robust interest and confidence in Macau’s leisure and gaming offerings.
The elevated visitor numbers have resulted in heightened hotel bookings, with many prominent hotels like City of Dreams Nuwa and the Grand Hyatt reaching full capacity. This trend reflects a broader optimism in the tourism sector, further buoyed by the government’s stimulus packages aimed at boosting the economy and enhancing consumer spending.
As Macau continues to host large volumes of visitors and gamblers, the overall economic outlook appears promising. The combination of high-stakes bets, increased visitor arrivals, and sustained interest in luxury and gaming services paints a positive picture for the remainder of the Golden Week and beyond.
CLSA projects that Macau’s gross gaming revenue for October will increase by 6 percent year-on-year, aligning with broader market expectations. This growth is indicative of a resilient and adaptive gaming industry capable of navigating through economic uncertainties.
