Citi: Wynn Macau sees sharp gains in April

Wynn Macau Ltd. emerged as the top gainer in Citigroup’s latest monthly survey of premium mass table betting in Macau, capturing a 23% market share, up 13 percentage points from the previous month, Citi analysts reported.

The analysts described “the whales and their wagering we witnessed at Wynn’s casinos” as the “most surprising takeaways” from their April survey, even as Galaxy Entertainment Group held the overall lead with a 27% share.

The analysts attributed the gains to upgraded premium offerings that appear to drive higher wagering volumes, underscoring the importance of enhanced facilities in drawing high-value players. Choi and Chau stated, “We believe the novelty effect of the recently-opened expanded area of the Chairman’s Club in Wynn Palace plays a role in the observed volume improvement.

“We saw our player of the month at Wynn’s Encore wagering HKD400,000,” they stated. “Honorable mentions go to the two whales at the Chairman’s Club at Wynn Palace wagering HKD330,000 and HKD300,000, respectively.”

For the first time, a single operator dominated Citigroup’s “gold, silver, bronze” rankings for whale performance, analysts George Choi and Timothy Chau noted. “It looks like ‘Build it and they will come’ still holds in Macau,” they said.

Citigroup’s observations extended to other operators, including MGM China Holdings Ltd.

The analysts visited the newly opened Masters Club at MGM Cotai, praising its beautiful decoration and 17 baccarat tables in the open area. During their checks, Citi noted that it spotted a handful of players, each with chip stacks exceeding HKD1 million.

With promotional tie-ins, MGM also impressed the analysts. According to Citi, MGM was offering special FIFA World Cup editions of the popular collectible Labubu dolls through point redemptions. Citi noted this “impressively” occurred only a couple of weeks after the newest plush dolls launched on April 2, reflecting casinos’ rapid adoption of consumer trends in marketing.

Broader industry shifts also drew Citi’s attention. Following regulatory approval of new baccarat side bets, the analysts said these could serve as an “extra booster” to stimulate incremental wagering, providing premium mass customers with higher-risk, higher-reward engagement options.

Around the upcoming Labor Day holiday on May 1, Citi noted, three operators scheduled major music events: Hailai Amu at Galaxy Arena, Kelly Chen at Sands China Ltd.’s Venetian Arena, and Na Ying at MGM Macau’s MGM Fantasy Box.