Analysts expect September gaming revenue to be affected by Super Typhoon Ragasa.
Macau.- Citigroup has revised downwards its gross gaming revenue (GGR) forecast for September for the second time in a week due to possible casino closures caused by Super Typhoon Ragasa. Analysts now expect GGR to reach MOP18.5bn (US$2.3bn), down from a previous estimate of MOP19.5bn (US$2.4bn) and an initial expectation of MOP20bn (US$2.48bn).
The latest reduction represents a year-on-year growth of 7 per cent, equivalent to approximately 84 per cent of the same period in 2019. This implies average daily gaming revenue of about MOP561m ($69.6m) for the remaining days of the month.
Citigroup said that GGR for the first 21 days of September likely reached MOP13.45bn (US$1.7bn), implying average daily GGR of approximately MOP664m (US$82.4m) over the past week (15-21 September), a 16 per cent increase from the average daily GGR of MOP575m in September 2024.
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.
Typhoon alert
Casinos in Macau are on alert amid the approach of Super Typhoon Ragasa, which could lead to the temporary closure of venues. As usual, the government will order the closure of all casinos if the typhoon reaches signal 8 or above. Macau’s weather bureau said on Monday there was a “high probability” it would reach signal 8 from Tuesday (September 23) afternoon to evening.
Sam Hou Fai, Macau’ chief executive, convened a press conference on Monday alongside five secretaries to outline preparations. Fai urged vigilance and compliance with directives. “Following the typhoon, employers should flexibly arrange staff attendance as appropriate and allow sufficient time for employees to return to their workplaces,” he said.
Analysts expect September gaming revenue to be affected by Super Typhoon Ragasa. Macau.- Citigroup has revised downwards its gross gaming revenue (GGR) forecast for September for the second time in…
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