A recent police action against an illegal money exchange operation linked to eight Macau jewelry stories does not appear to have affected the ability of players to access cash, according to latest observations by Citigroup analysts.
Citi released the results of its monthly premium mass table survey on Monday, with the HK$11.1 million (US$1.43 million) total wager observed remaining flat year-on-year despite recent headwinds such as the US-Sino trade war. Average wager per player was 7% lower than during the same month in 2024, analysts George Choi and Timothy Chau added in a note, although whales – those betting at least HK$100,000 (US$12,900) per hand – were betting 2% more on average.
“The fact that these wagers happened in front of our eyes suggests that concerns about the Macau police’s recent intensified crackdown on pawn shops that conduct illegal cash exchanges may be overdone as players are still able to get cash to the gaming tables,” they wrote.
“Another interesting observation: players’ decisions on which casino to go to does not seem to be altered by the trade conflict – they seem to stick with the venue where they feel the most auspiciously comfortable.”
According to the survey, the number of premium mass players spotted was 611, up 8% on April 2024, implying an average wager per player of HK$18,139 (US$2,340).
While Galaxy Entertainment Group ranked top in the premium mass survey with around 25% market share of total wager observed, the US operators combined for 60% share including 23% share for MGM.
“This likely suggests that the ongoing Sino-US trade war does not impact players’ preferences,” Citi said.
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