Morgan Stanley reports increased spending by premium-mass punters compared to pre-Covid era
Thursday 21 de December 2023 / 12:00
2 minutos de lectura
(Macau).- Despite challenging market conditions, the gaming industry in Macau has continued to thrive, driven by robust demand from high-end gamblers, recent research by Morgan Stanley suggests.
According to analysts Praveen K Choudhary and Gareth Leung CFA, premium-mass gamblers are spending more per head, surpassing the pre-pandemic level.
Surprisingly, high-end customers are visiting Macau more frequently, even in spite of a sequential decline in consumer spending and overall macroeconomic trends in China.
Additionally, younger gamblers “in their 30s” are displaying similar spending patterns to their older counterparts in their 40s and 50s, the analysts claimed.
On a different note, the analysts expect both capital expenditure and operational expenditure to ramp up further in 2024.
“We expect Macau gaming companies to follow the Macau government and increase wages by 2 to 3 per cent in 2024,” wrote the analysts. “Yet, we think the 13th month salary bonus is likely to remain intact.”
Operational expenditure, or opex, associated with non-gaming investments and potential competition for gaming hosts and sales could place “upward pressure” on expenses.
In particular, Sands China stands out with 76 per cent of its committed investment focused on capex, while other operators may need to allocate more towards opex, which could impact their margins.
When it comes to the mass hold rate, the rate improved in the fourth quarter of 2023, accompanied by an increased volume. Macau’s mass table hold rate, which remained flat in the third quarter of 2023 compared to the first half of the year, stood at 23.4 per cent, slightly below the 2019 level of 24.7 per cent.
Wynn and MLCO are expected to benefit from the improved mass hold rate in the fourth quarter of the year.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA Central Europe
03 de November 2025
SiGMA Central Europe 2025 Closes First Edition with High Attendance and Roman-Inspired Experiences
(Rome, Exclusive SoloAzar) - The first edition of SiGMA Central Europe in Rome came to a close, leaving a strong impression on the iGaming industry. With thousands of attendees, six pavilions brimming with innovation, and an atmosphere that paid homage to Roman history, the event combined spectacle, networking, and business opportunities. It also yielded key lessons for future editions.
Friday 07 Nov 2025 / 12:00
Innovation, Investment, and AI Take Center Stage on Day 3 of SiGMA Central Europe
(Rome, SoloAzar Exclusive).- November 6 marks the final and most dynamic day of SiGMA Central Europe 2025, with a packed agenda that blends cutting-edge tech, startup energy, and investor engagement. With exhibitions, conferences, and networking opportunities running throughout the day, Day 3 promises to close the event on a high note.
Thursday 06 Nov 2025 / 12:00
SiGMA Central Europe Awards 2025: BetConstruct Wins Innovative Sportsbook Solution of the Year
(Malta).- BetConstruct has been recognised at the SiGMA Central Europe Awards 2025, receiving the Innovative Sportsbook Solution of the Year award. This achievement highlights the company’s continued focus on elevating retail betting experiences and supporting operators with solutions that create measurable business value.
Wednesday 05 Nov 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.