The spending behavior of Macau’s premium popular game sector, specifically the high roller, also called “whale,” is showing a noticeable acceleration in 2024. A recent monthly survey by the investment bank found that the number of whales and the amount bet throughout the year already exceeded the total observed for the entire fiscal year 2023.
In the first nine months of 2024, Citigroup observed 228 whales betting a total of over HK$43.3 million (W12,842). This exceeds HK$39.7 million bet by 224 whales in 2023 and shows the momentum of Macau’s wealthiest gamblers is growing. Citigroup analyst George Choi, quoted by GGRASIA, said, “This year, 228 whales have bet a total of HK$43.3 million. These statistics are above the HK$39.7 million bet by 224 whales in FY 2023.”
The report also pointed to a significant increase in average bets per session. The average bet by such high-yield players in 2024 reached HK$655,000 – a 43% increase from HK$457,000 recorded in 2023. In addition, these spending trends have accelerated in recent months, with average bets over the past five months rising to HK$728,000.
Choi said: “Consumption trends appear to be accelerating, with the average reading higher over the past five months at HK$728,000.” Despite concerns about economic conditions in mainland China, which are showing signs of weakening consumer confidence, 안전한 파워볼사이트wealthy companies in Macau have continued to visit casinos and have shown little hesitation in spending.
Premium mass player growth
The Citigroup report highlighted an increase in the number of premium mass players, in addition to a surge in whale activity. A September 2024 survey showed a total of 613 premium mass players, up 42% year-over-year. However, the report also pointed out that average bets per player were down slightly 5% compared to last year. Nevertheless, the overall quality of premium mass players remains robust, as a 36% year-over-year increase in overall bets suggests a healthy and solid market. “Despite a much higher number of players, this month’s number of bets/players was down slightly 5% year-over-year to HK$19,389,” Choi noted.
Sands China was the most notable performer in Citigroup’s September survey, accounting for 26%, the highest share of all bets, up from 22% in August 2024. Melco Resorts & Entertainment also made significant profits, achieving a 17% share of total bets. That’s a sharp increase from its average share of 13.5% in the first eight months of 2024. The success of Melco Resorts seems to be partly due to the rebranding of premium bulk products paying off. “Based on the quality of whales we saw in Studio City this month, we believe the rebranding program is already having early success,” Choi said.
Macau’s Gaming Sector Shows Resilience
A September 2024 survey showed total premium public bets stood at HK$11.9 million, up 36% from HK$8.8 million observed in the same month last year. The rise of premium public players and the rise of whale bets underscore Macau’s resilience as a major global gaming hub, even amid widespread economic uncertainty.
Also, a September survey showed that 21 whales were actively betting at Macau casinos, up from 17 a year earlier. Notably, at Galaxy’s Starworld Horizon Room, a whale made significant gains, betting HK$640,000. Choi also noted that there are five whales betting HK$100,000 to HK$250,000 in the Galaxy Macau Horizon Room, including a prominent Korean player who returned for two consecutive months.