GGRAsia – Citi has first foreign ‘player of month’ in Macau bet survey

Citi has first foreign ‘player of month’ in Macau bet survey

May 06, 2024 Newsdesk Latest News, Macau, Top of the deck

A Citigroup survey of Macau casino premium mass tables, conducted on Friday (May 3), the third of five days of May holidays on the Chinese mainland, indicated a 144 percent higher amount in total wager, and 119 percent more players, judged year-on-year.

The wager total this time was HKD17.7 million (US$2.3 million) spread among 775 players.

Citigroup used as the comparison point, the bank’s premium-mass player survey on April 28, 2023, which had been the eve of the equivalent 2023 holiday season, often referred to as ‘Labour Day holidays’, with Labour Day itself falling on May 1 each year.

Analysts George Choi and Ryan Cheung said its May 2024 survey revealed the “first ever non-Chinese ‘player of the month’. The banking group uses the term to describe the highest-betting punter identified in its poll.

Citigroup said the South Korean patron was one of three at a ‘Horizon’ -branded room at Galaxy Macau, the Cotai flagship of Galaxy Entertainment Group Ltd, that were betting in multiples of HKD250,000 (US$32,000) to HKD399,000.

The analysts added they “saw a total of nine ‘whales’” in that Galaxy Macau venue, which they said was “the most of any single premium mass room”. The ‘whales’ were defined as players betting HKD100,000 or more per hand.

Across the Macau market as a whole, an aggregate of 37 whales was observed, with a presence at all six operators.

The tally was only four fewer than the 41 the institution had observed for the peak business period during the latest Chinese New Year holidays in February. May’s 37-whale figure outstripped the 14 seen in the April, 2023 survey.

“Galaxy and Sands China [Ltd], two operators with the most hotel rooms, seem to benefit the most from the holiday crowd,” stated the Citigroup analysts.

They added: “The two operators have recently introduced a new side bet called ‘Small 6/Big 6’ to all of their baccarat tables.

“This new side bet seems to have gained popularity among players, and we believe it will enhance hold rates of Galaxy and Sands China.”