premium gamblers drive resilience in market, UBS survey shows

A recent survey by UBS Securities Asia Ltd shows that the gaming sector is benefiting from a growing and more affluent mass-market segment.

The study found that high-income professionals from a range of industries are increasingly shaping demand, contributing to a resilient gaming environment.

UBS noted that these premium-mass players differ from standard mass-market gamblers in their preferences, placing higher value on services such as rebates, membership programs, quality hotel accommodations, and fine dining experiences.

According to UBS, operators offering a stronger mix of premium products are therefore better positioned to capture market share.

The survey stressed that Macau’s higher-spending customers – those spending over HKD20,000 per trip – have seen their average household incomes rise by about 22% compared with 2019. Emerging sectors, including hardware technology and pharmaceuticals, now account for approximately 7% and 4% of respondents, respectively.

The bank also observed that more premium players reported improvements in their financial situation over the past year (net positive 23%) and expect further gains in the coming year (net positive 21%), despite broader economic challenges.

The findings suggest that gaming demand is increasingly concentrated in the premium segment. UBS forecasts gross gaming revenue (GGR) and EBITDA growth of 5% and 11% in 2026, respectively, citing targeted marketing, tailored incentives, and high-end service offerings as key factors for operators to strengthen their position in the market.