Citigroup: Galaxy Entertainment (00027) took the lead in the midfield survey of VIP guests from women's volleyball matches

The Zhitong Finance App learned that when the VIP midfield survey was conducted in Macau last Friday (24th), there was a lively scene at the Galaxy Integrated Resort under Galaxy Entertainment (00027), which was affected by the typhoon, and there were also “big whales” (high-value bettors). It is believed to be related to the joint hosting of the “2026 World Women's Volleyball League Finals” by GEG and the Macau Government. Citi believes that appropriate non-gaming activities are an effective tool to attract wealthy people from the Mainland to visit and spend money in Macau. The current valuation of the industry is about 7.4 times predicting enterprise value for EBITDA, 11.4 times lower than the historical average by more than 1.5 standard deviations. Among them, GEG's valuation is about 7.8 times, and lower than the historical average of 12.1 times more than 1.5 standard deviations. Citibank listed GEG as the first choice for Macau gaming stocks.

In terms of VIP midfielders, the survey showed that the total bet amount observed in July rebounded 33% month-on-month to HK$13 million, but still fell 19% year over year; the number of VIP midfielders was 581, down 15% year on year, and the average bet amount per player fell 5% year on year to HK$22,367. Twenty-four “whales” were observed during the period, which remained flat, but less than 35 in July last year; the average bet amount for each “whale” increased 9% month-on-month to HK$182,500.

According to operators, GEG ranked first in the VIP midfield survey, accounting for 43% of total observed bets, up from 35% in July last year; 185 players were observed during the period, with an average bet amount of HK$30,168. Citi said it met this month's “Gamer Star” at Pavilion South, and the bet amount reached HK$600,000; it also observed 8 “whales” in Horizon Room, with bets ranging from HK$100,000 to HK$440,000. Citi also pointed out that the average minimum bet amount for midfield baccarat across Australia fell 10% year on year to HK$1,898 in July.