Macau Gaming: Citi Table Survey Says: Distractions from Soccer Creating Temporary Premium Mass Slowdown

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Macau Gaming: Citi Table Survey Says: Distractions from Soccer Creating Temporary Premium Mass Slowdown

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21 Jun 2026 17:46:24 ET │ 28 pages

Macau Gaming

Citi Table Survey Says: Distractions from Soccer Creating Temporary

Premium Mass Slowdown

George Choi, CFA AC

CITI'S TAKE +852-2501-2489

The across-the-board YoY reduction in all major metrics in our Jun-26 table george.choi@citi.com

survey is not surprising to us, given historical data clearly suggest that Timothy ChauMacau GGR will usually slow whenever there is a major global soccer

tournament going on (see our report for details). In addition, Jacky Cheung’s +852-2501-2450

concert, which happened in June last year, creates a tough comp for Macau timothy.chau@citi.com

and further accentuates the trends. We did see fewer whales this month,

but the encouraging fact that we witnessed our Player of the Month

wagering HK$680k suggests that casino players are still able get cash to

Macau and are still very much willing to spend there. The final whistle of the

soccer tournament will blow on July 19th, and we remain confident that a

swift post-tournament recovery will happen. We recommend building

positions in our top picks Galaxy and Sands China on short-term share price

weakness.

Premium Mass: Total Wager Observed Fell to Post-Pandemic Low of HK$9.8m —

Total wager observed in Jun-26 amounted to HK$9.8m, 38% lower vs. Jun-25.

Number of Premium Mass players seen amounted to 448, 29% lower vs. Jun-25.

This implies that average wager/player fell 13% YoY to a respectable level of

HK$21,775 (vs. HK$25,130 in Jun-25). We attribute the YoY weakness to the ongoing

World Cup, which might have diverted away some of the gaming focus of some

players.