Investment bank Citigroup says it wouldn’t be surprised to see Macau generate more gross gaming revenue in June than previously forecast after the first of singer Jacky Cheung’s latest residency series at Galaxy Arena generated “significant improvement in foot traffic” at Galaxy Macau.
In a Monday note, Citi analysts George Choi and Timothy Chau stated that they attribute “all the positive findings” from their monthly Macau table game survey – conducted last Friday 20 June – to the return of Cheung, who performed the first of his nine shows scheduled through mid-July on that same evening.
Galaxy, they explained, “seems to have struck the right note by hosting him at the Galaxy Arena” given the increase in foot traffic.
“We believe other operators are also benefiting – some of them have purchased tickets as comps for their Grade-A players,” they added. “We won’t be surprised if Macau generates more GGR than what we forecast for June 2025.”
Citi had forecast a 5.0% year-on-year increase in gaming revenues for the month to MOP$19.0 billion (US$2.42 billion).
As previously reported by IAG, an initial post-COVID series of concerts by big-name performers in mid-2023 was widely credited with driving a surge in visitation and GGR.
By the numbers, Citi said it witnessed a 58% year-on-year increase in total wager observed versus its June 2024 table survey, reaching HK$15.8 million (US$2.0 million). With 629 premium mass players seen – up 16% year-on-year – this implies that the average wager per player grew 36% year-on-year to HK$25,130 ($3,201). There were also 35 whales spotted – more than double the 16 Citi’s analysts saw in June 2024.
They noted that many of the big players they saw were at the Chairman Club in Wynn Palace, suggesting that Wynn may have gained some significant share in total premium mass wager observed.
RelatedPosts
