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<Research>Citi Lifts MO Jul GGR Forecast to MOP21B
Recommend 9 Positive 25 Negative 8 |
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According to industry sources, Macau's GGR for the first 13 days of July may have already reached around MOP9.05 billion, implying that the daily average from July 7 to 13 was about MOP679 million, around 5% lower compared to the daily average of MOP717 million for the first six days of the month, but still about 13% higher than the daily average of MOP600 million in July 2024. This slowdown was not beyond expectations as Jacky Cheung's concert series in Macau ended on July 6, though the actual decline was smaller than anticipated. Industry data showed that VIP volumes were roughly flat compared to the previous month, while Mass GGR grew by 0-3% MoM. After the first six days of the month, the VIP hold rate seemed to have declined. Based on these observations, Citi raised its forecast for July 2025's GGR from MOP20 billion to MOP21 billion (around 86% of the July 2019 level, up 13%), implying an average daily GGR of about MOP664 million for the remainder of July. AAStocks Financial News |
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