Daily Asia Gaming eBrief: Bets by “whales” rise in Macau

Tuesday 24th of September 2024

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Good morning. Thar she blows! A recent Citigroup survey highlights a notable surge in gaming expenditures in Macau, particularly among high-stak e s players known as "whales," whose average wagers have increased by 43%, reaching HK$655,000 ($84,100) per hand. Interestingly, yesterday both Macau and Hong Kong announced plans to start testing the use of official digital currencies. Meanwhile, Thailand’s ruling Pheu Thai Party is championing its casino-entertainment complex initiative as a means to legalize underground gambling and generate tax revenue for the government.

What you need to know

Macau's gaming sector thrives amid China's economic woes, with high-stakes wagers rising 43% and premium mass player numbers up 42%.
Both Macau and Hong Kong monetary authorities have announced significant steps towards the introduction of digital currencies.
Thailand’s ruling party advocates casino entertainment complexes to boost the economy and tap into the $13.7 trillion ‘fun’ economy.

On the radar

Citigroup cuts Macau’s September GGR forecast to $2.12B amid VIP hold drop.
Phividec investigates firm allegedly linked to POGO operations.
Wynn Macau secures three-year loan extension to September 2028.
Macau visitor arrivals from IVS newly added cities grow by 17.1% in August.
Philippine Police launches probe into former Chief’s alleged role in POGO escape.
Alice Guo transferred to Pasig jail, undergoes TB test for ‘lung infection.

AGB Intelligence

MACAU

High-stakes players increase bets in Macau

There has been a remarkable increase in gaming spending in Macau, particularly among high-stakes players, a recent survey from Citigroup reveals. Their average bets have surged by 43%, now averaging HK$655,000 ($84,100) per hand. The number of whales has grown to 228, who together have wagered HK$43.3 million ($5.6 million) year-to-date, surpassing last year's figures. The premium mass gaming sector is also thriving, with a 42% rise in player numbers and a 36% increase in total wagers compared to the previous year.

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