Citigroup released a report indicating that after observing several casinos in Macau during the Lunar New Year period, the Macau gaming industry has had a strong start in the Year of the Horse. The high-end mid-market continues to be robust, with an average bet per player reaching a record HKD 29,625, an increase of 13% compared to last year's New Year period. It was also noted that there were as many as 7 &#34;whale&#34; high rollers with bets exceeding HKD 500,000, up from 4 during the Lunar New Year in 2025. The average minimum bet for baccarat reached HKD 2,347, a 5% increase from the Lunar New Year period in 2025, indicating signs of recovery in the basic mid-market.
Citigroup stated that the newly opened retail stores in various integrated resorts further confirm that wealthy mainland tourists are still willing to spend.
The bank's comprehensive data indicates a positive outlook for Macau, expressing confidence in the forecast of a 1% year-on-year growth in total gaming revenue in Macau to MOP 20 billion by February 2026; this implies a solid year-on-year growth of 12% in the combined data from January to February.
Its preferred ranking for Macau gaming stocks is as follows: Galaxy Entertainment (027), Wynn Macau (1128), Sands China (1928), MGM China (2282), Melco Resorts &amp; Entertainment (MLCO), and SJM Holdings (880). Generally, Macau gaming stocks performed well, with Galaxy Entertainment showing the best performance, rising by 3.1%, while Sands and SJM rose by 1.3% and 0.4%, respectively.
<h2>Galaxy Entertainment is the top choice among Macau gaming stocks</h2>
Regarding high rollers, the bank noted that 53 high rollers were observed this month, an increase from 49 during the Lunar New Year period in 2025; the total betting amount reached HKD 11.3 million, with an average bet of HKD 213,000, both showing growth compared to HKD 10.2 million and HKD 209,000 in the same period last year.
The bank observed that SJM Holdings has added a low-stakes baccarat betting area at the Grand Lisboa, featuring 24 gaming tables, of which 3 tables have a minimum bet of HKD 300, making it the only casino in the Cotai integrated resort area to offer HKD 300 low-stakes gaming

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01128

Citigroup's report shows that the Macau gaming industry started strong in the Year of the Horse, with high-end mid-market per capita bets reaching a record high of MOP 29,625, an increase of 13% compared to last year. It was observed that the number of high rollers with bets exceeding MOP 500,000 increased to 7, and the minimum bet for baccarat rose to MOP 2,347. Citigroup is optimistic about Macau's total gaming revenue forecast for 2026, expecting a growth of 1% to MOP 20 billion. Gaming stocks performed well, with Galaxy Entertainment seeing the largest increase of 3.1%

Stheadline

Sands China

SJM HOLDINGS

Galaxy Entertainment Group

MELCO INT'L DEV

MGM CHINA

SANDS CHINA LTD

WYNN MACAU

VanEck Gaming ETF

Citigroup expects Macau's gaming industry to have a strong start in the Year of the Horse, with high-end mid-market per capita betting reaching a new high