Analysts expect September gaming revenue to reach US$2.4bn.
Macau.- Citigroup has revised downwards its gross gaming revenue (GGR) forecast for September. Analysts now expect GGR to reach MOP19.5bn (US$2.4bn), down from a previous estimate of MOP20bn (US$2.48bn).
Citigroup said that GGR for the first 14 days of September likely reached about MOP8.8bn (US$1.1bn), with an average daily run rate of MOP621m (US$77m) in the second week coming around 2 per cent behind than the first week. Analysts attributed the slowdown to fewer events.
Citigroup recently revised upwards its forecast for the full year to MOP248.6bn (US$31.1bn), up from a previous estimate of MOP235.7bn (US$29.15bn). Analysts George Choi and Timothy Chau noted that this would imply 14-per cent year-on-year growth for the rest of the year.
Analysts expect September gaming revenue to reach US$2.4bn. Macau.- Citigroup has revised downwards its gross gaming revenue (GGR) forecast for September. Analysts now expect GGR to reach MOP19.5bn (US$2.4bn), down…
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