Shares of Wynn Macau Ltd. surged 8.87% on Monday, riding a wave of optimism around the Macau casino industry's performance during China's Golden Week national holiday.

The spike in Wynn Macau's stock price reflects broader gains for Macau casino operators, with Galaxy Entertainment and Sands China also seeing their shares climb over 7% amid expectations of booming business from mainland Chinese gamblers. Macau, as the world's biggest gambling hub, relies heavily on visitors from mainland China during peak travel periods like the Golden Week holiday.

Fueling the rally are signs of resilient demand from premium mass gamblers - those betting large sums without needing credit from casinos or junkets. According to a Citi survey, premium mass table utilization hit a record-high 52% during the Golden Week period, the highest level since casinos reopened after COVID-19 disruptions. Citi analysts noted that "Premium Mass demand has always been resilient, despite the weak Chinese discretionary spending trends year-to-date," attributing the robust appetite to recently announced supportive policies from Beijing.

UOB Kay Hian analysts upgraded their view on the Macau gaming sector last week, citing the expected Golden Week visitor surge as a boost to gaming revenue recovery. "We expect the strong visitations from mainland China during the Golden Week to boost gross gaming revenue recovery," they wrote.