Analysts at Citigroup are bullish on Macau in 2024, seeing room for growth after a 'decent 2023'. Analyst George Choi cites a weak economy in China diminishing Macau's possible ramp-up this year, but notes that visitation, time and money spent in the casino are more important metrics than a country's GDP. The analyst also encourages operators in their comping strategies, noting that EBITDA is the bottom line.

Citigroup, in its August premium mass table survey, has observed that Macau continues to demonstrate resilience in gaming amid China’s economic headwinds, maintaining robust player demand.

CLSA notes that the disruptions from the revamp of Londoner Macao Phase 2 will continue to 'weigh on the results', the impact is expected to peak in 3Q24.

The robust gaming demand in Macau justifies the view that concerns over a crackdown on illegal money flows are overdone, according to Citigroup.

The Macau gaming industry has registered a weak start in July, performing below historical seasonality, according to investment banks UBS and Citigroup.

Following Citigroup’s Macau Gaming Corporate Day, where all six casino operators were hosted, the investment bank maintains a bullish stance on Macau gaming companies' oulook. 

By the end of 2025, it is expected that all major properties in Macau, the Philippines, Australia, and New Zealand will adopt some form of smart table technology, primarily for Baccarat due to its implementation ease compared to other games, gaming analytics expert David Croft told AGB.

Investment bank Citigroup anticipates that Macau’s gross gaming revenue (GGR) in May could reach MOP20 billion ($2.49 billion), about 77 percent of 2019 levels.

Citigroup has trimmed its forecast for Macau's gross gaming revenue (GGR) from $2.3 billion to $2.23 billion for April due to the anticipated flattish daily run-rate.

In assessing the long-term prospects of the Macau gaming industry, brokerage firm Citigroup highlights the significant impact of the widespread adoption of smart gaming tables on its growth.