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Citi: Revenge spending at a peak as Golden Week table survey breaks all records

Ben Blaschke by Ben Blaschke
Tue 6 May 2025 at 06:36
MGM China, Pansy Ho, MGM Resorts extend branding and non-compete agreements to align with 2022 gaming concession expiry

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Citigroup’s monthly Macau premium mass table survey took place during this year’s May Day Golden Week holiday with analysts George Choi and Timothy Chau claiming to have witnessed a number of all-time survey records.

Describing the action as “jaw dropping” in a Monday note, the analysts said this month’s survey highlights that players “remain passionate about gaming and that the ongoing Sino-US trade conflict so far appear not to be discouraging players from enjoying Macau’s gaming and non-gaming offerings.”

Witnessing multiple million-dollar whales, Citi’s Player of the Month produced the highest wager in Citi’s survey records at HK$2.9 million (US$362,500), while total premium mass wager observed of HK$27.2 million (US$3.4 million) was also a record-high (tied with National Day Golden Week in 2024). Average wager by whales of HK$281,000 (US$35,125) was up 79% year-on-year while average min bet of HK$2,300 (US$288), though down 8% year-on-year, was 3% higher that the recent Chinese New Year holiday.

The number of premium mass players seen amounted to 949, which was 22% higher versus May 2024 and implies that the average wager per player improved by 26% year-on-year to HK$28,654 (US$3,580).

“For the second consecutive month, we ran into the Player of the Month at MGM Cotai Supreme Room,” Choi and Chau said.

“This player had a HK$10 million (US$1.25 million) chip stack in front of him and he wagered HK$2.9 million (the highest on our record). Unfortunately, the HK$1.2 million (US$150,000) wagering whale that we saw at the Venetian High Limit area – who would normally be crowned Player of the Month in any other month – had to settle for an honorable mention this month.

“This is the first time we saw more than one million-dollar whales on the same day.”

The analysts explained that 63% of premium mass wager observed took place in the premium mass rooms of US operators – MGM, Sands and Wynn – suggesting that the ongoing Sino-US trade conflict is so far not impacting players’ preferences.

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Tags: CitigroupGeorge ChoiGolden WeekMacauPremium Masssurvey
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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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