Citigroup has raised its forecast for this month’s gross gaming revenue.
Macau.- Analysts at Citigroup have estimated that Macau’s market-wide GGR for the first 19 days of May was MOP13.4bn (US$1.7bn). The current daily run rate would stand at MOP686m, up nearly 19 per cent when compared to the previous week.
Analyst George Choi said the uptick was mainly due to a rise in the number of visitors amid concerts by Hong Kong Cantopop group Mirror. He said the introduction of Small 6/Big6 side bets by Sands China and Galaxy Entertainment Group probably helped too.
Citigroup also increased its forecast for May GGR from MOP20.0bn to MOP20.50bn due to higher month-on-month mass and VIP gaming volumes. That would represent around 79 per cent of the same month in 2019 before the Covid-19 pandemic. Citigroup expects daily casino GGR of MOP592m for the rest of this month.
The institution’s latest estimate reflected VIP gaming volumes at about 15 to 18 per cent higher month-on-month. The mass gaming segment is up 13 to 15 per cent sequentially.
In April, GGR was down 4.9 per cent month-on-month at MOP18.5bn (US$2.29bn). The figure was up 26 per cent when compared to April 2023 but down 21.4 per cent from the MOP23.6bn (US$2.91bn) reported in April 2019.
Citigroup has raised its forecast for this month’s gross gaming revenue. Macau.- Analysts at Citigroup have estimated that Macau’s market-wide GGR for the first 19 days of May was MOP13.4bn (US$1.7bn). The current daily run…
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