Macau Witnesses Big Crowds for Golden Week, Breaks Betting Volume Records

Macau, the global gambling Mecca, witnessed unprecedented visitation during the October Golden Week. The 75^th National Holiday celebration, which lasted from October 1^st to October 7^th, reported massive betting volumes that shattered previous records. The event sets a precedence predicted to attract more traffic, providing a significant economic recovery and boost.

Citigroup analysts have conducted a table survey and reported that players wagered a record high of HKD27.2 million (US$3.5 million). This number is an 81% increase from last year's festival and an 18% increase from the Chinese New Year celebration. The significant rise in Golden Week's mass wagers demonstrates a high demand for Macau's gaming sector, even as it undergoes see-sawing economic times.

Tourism Patterns

Golden Week is among the busiest travel seasons in China, and people came out in unexpected numbers despite prolonged economic challenges and dipping consumer confidence. The Macau Government Tourism Office (MGTO) reported 152,000 visitors each day of the week-long holiday. These figures surpassed the expected 130,000 daily, indicating a 5% surge over the 2019 numbers in the festival's first three days.

The revelers were mainly from the Chinese mainland, Macau's primary feeder market. Visitation was up almost 55% compared to 2023, and numbers picked to a record-breaking high of 174,000 visitors. Such high numbers highlight the notable impact of China's recent economic stimulus package meant to revive gambling to pre-pandemic levels. On the flipside, the number of visitors from Hong Kong fell more than 25% to below 80,000.

Player Influx

The visitation surge resulted in a significant rise in gambler participation and, in turn, betting volumes. The Citigroup survey noted the number of premium mass players reached an unprecedented 966 – a 90% rise from 2023. 62 high rollers, referred to as 'whales', were spotted in several casinos like the Wynn Palace and Galaxy Macau. These whales placed massive individual bets soaring as high as HKD420,000.

The gambling capital recorded a premium mass table utilization of 52%, the highest rate since the market opened. However, the average bet per player dropped by 5% from 2023 to HKD28,150.

Economic Prospects

Macau's large volumes of visitors and gamblers are expected to continue beyond the Golden Week. The accommodation of high bet limits, rising visitor numbers, and multiple entertainment services in luxury and gaming put the region on a positive economic trajectory.