Macau's big players appear undeterred by Xi Jinping's impending visit – IAG

The proliferation of big players in Macau showed no signs of slowing in December, despite concerns that Chinese President Xi Jinping's impending visit from Dec. 18-20 could prove a deterrent, according to Citigroup.

The observation follows a monthly mass survey of Citis' premium tables in Macau, with the brokerage noting that while dealers had apparently opened fewer tables, the number of players and average stake per player held up well.

More specifically, the number of mass premium players increased by 26% year-over-year and the average stake only decreased by 8%. 21 whales were spotted, with the average bet down 9% compared to December 2023.

Our survey suggests that there are many gamers in Macau whose gaming appetite appears little affected. [by Xis visit]said analysts George Choi and Timothy Chau.

Citi also noted that its latest observation for December 2024 reflects a survey conducted five years earlier before President Xi's visit to Macau in December 2019. At the time, the average premium mass stake per player was down 6%. compared to the period of the previous year, and the average baccarat mass minimum bet of 4%. This year, the average premium mass bet per player fell by 8% and the average baccarat mass minimum bet fell another 4%.

Macau had a good end to December 2019 after December 20, with GNP remaining stable month-on-month at MOP22.8 billion, Citi wrote. We will not be surprised if history repeats itself, and we remain satisfied with our December 2024 GNP forecast of MOP 18.5 billion (flat month-on-month).

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