Macau Premium Mass Resilience Summit
A recent field inspection survey conducted by Citigroup of Macao’s premium mass game tables showed that players’ quality was “struggling” in March, which Citigroup described as a “normal month” without a long holiday break.
Overall, Citigroup said market-wide wages observed in its March survey were HK$10 million ($1.3 million), up 73% in March 2023.
The number of premium mass players stood at 482, up 71% year-on-year. Average wages per player stood at HK$20,817 this month, “slightly higher” than HK$20,539 in March 2023.
“This means that the quality of the players we’ve seen has not changed significantly year-on-year,” wrote analysts George Choi and Ryan Cheng.
“More importantly, in their view, the most recent survey was “on a normal Friday, rather than a long weekend or major holiday, and our estimated wages per player hold up well compared to the normal [non-holiday] survey of the last few months.”
Citigroup said in a March survey that Win Macao and Win Palace’s operator Win Macao took the top spot in the market share, but the agency came in third, “surprised” by MGM China Holdings’ estimated 21% share.
“The amount of games we saw on MGM Cotai was about HK$1.09 million, which was distributed to 50 players,” Choi and Choeng said.
“The players seem to have renovated the controlled area there,” they added. MGM China also operates MGM Macau in downtown Macau.
The “player of the month” seen in the survey “made a HK$400,000 bet in Supreme Rooms of other MGM casinos [MGM Macau] on the peninsula,” analysts said.
Citigroup said MGM China has placed an additional “two baccarat tables with insurance betting options” in MGM Macau, where the agency has seen customers bet an initial HK$3,000 on a “banker” and then play like an “option trader” in financial markets through insurance betting at a 10-1 payment ratio.
At MGM Kotai, Citigroup said it was “surprised that we have paid a total premium of HK$1 million for the second month in a row,” even though March was not a holiday season in mainland China.
Bill Hornbuckle, CEO and president of MGM Resorts International, the parent company of MGM China, said in the group’s latest fourth-quarter earnings call that MGM China “break through the 20% market share barrier” in January.
Mr Hornbuckle also said: “I’m not suggesting it’s sustainable, but I’ll tell you. We’ve repositioned those two properties and we think we’re ready to compete on an equal basis with anyone in the marketplace.”
Commenting on Citigroup’s operational trends noted in the March survey market, the agency said Melco Resorts & Entertainment had designated Dragon Palace as the property’s only members-only premium missa room, while making City of Dreams’ Curlong Club a “semi-open area.”
BY: 바카라사이트 추천