Post by Blitz on Aug 21, 2024 7:34:04 GMT -5
Citibank: Premium mass demand strong despite crackdown
- Wednesday, August 21, 2024 - 12 hours ago No Comments 1,130 Views
macaudailytimes.com.mo/citibank-premium-mass-demand-strong-despite-crackdown.html
Demand from mainland high rollers continues to drive Macau’s lucrative premium mass segment despite recent efforts to curb illegal money flows, according to analysts.
In a recent note, Citibank analysts George Choi and Ryan Cheung reported a year-on-year surge in premium mass play and an increase in “whale spotting,” with players betting up to HKD600,000 per hand during August visits.
“The fact that this happens after Macau criminalized illegal money exchanges means most players can still access funds through legal channels,” the analysts wrote.
Citi’s August premium mass survey observed a 35% jump in total wagers to HKD12.8 million, compared to the same month last year.
The team spotted 655 premium mass players, contributing to a seasonally strong 40% rise in overall visitation.
While player numbers grew, the average wager fell slightly by 4%, attributed to “more casual, less keen players” visiting in August. However, Choi and Cheung stated, “We don’t think this implies a decrease in player quality.”
Galaxy Macau maintained a leading 29% market share of the observed premium mass wager, up from approximately 25% last month.
The biggest individual player of August was witnessed at City of Dreams betting HKD600,000 per hand, whose companion wagered HKD400,000 per hand.
VC
- Wednesday, August 21, 2024 - 12 hours ago No Comments 1,130 Views
macaudailytimes.com.mo/citibank-premium-mass-demand-strong-despite-crackdown.html
Demand from mainland high rollers continues to drive Macau’s lucrative premium mass segment despite recent efforts to curb illegal money flows, according to analysts.
In a recent note, Citibank analysts George Choi and Ryan Cheung reported a year-on-year surge in premium mass play and an increase in “whale spotting,” with players betting up to HKD600,000 per hand during August visits.
“The fact that this happens after Macau criminalized illegal money exchanges means most players can still access funds through legal channels,” the analysts wrote.
Citi’s August premium mass survey observed a 35% jump in total wagers to HKD12.8 million, compared to the same month last year.
The team spotted 655 premium mass players, contributing to a seasonally strong 40% rise in overall visitation.
While player numbers grew, the average wager fell slightly by 4%, attributed to “more casual, less keen players” visiting in August. However, Choi and Cheung stated, “We don’t think this implies a decrease in player quality.”
Galaxy Macau maintained a leading 29% market share of the observed premium mass wager, up from approximately 25% last month.
The biggest individual player of August was witnessed at City of Dreams betting HKD600,000 per hand, whose companion wagered HKD400,000 per hand.
VC