Citigroup has lowered its forecast for Macau’s August gross gaming revenue (GGR) to MOP23 billion ($2.86 billion), from MOP23.5 billion ($2.92 billion), following a slight slowdown in the second week of the month.
The revised estimate represents a 4 percent increase from August 2025, compared with the brokerage’s previous forecast of 6 percent growth.
Macau’s GGR reached an estimated MOP11.65 billion ($1.45 billion) in the first 16 days of August, according to industry sources cited by Citigroup analysts George Choi and Timothy Chau.
The average daily run rate stood at approximately MOP721 million ($89.6 million) during the week of August 10th to 16th. This was slightly below the MOP733 million ($91.1 million) recorded during the first nine days of the month, but remained above the MOP715 million ($88.9 million) daily average in August 2025.
VIP gaming volume increased by an estimated 12 to 15 percent month-on-month, while mass-market GGR rose by approximately 9 to 10 percent, according to the brokerage.
However, the VIP hold rate during the previous week appeared to be lower than in the first nine days of August, contributing to the softer daily run rate.
Citigroup expects Macau’s concert and entertainment calendar to support further GGR recovery during the remainder of the month.
Upcoming events include concerts by Chinese singer Lay Zhang at The Venetian Arena, K-pop group i-dle at Galaxy Arena and FNC Band Kingdom 2026 at The Londoner Arena.
The revised monthly forecast implies an average daily GGR of approximately MOP757 million ($94.1 million) for the remaining 15 days of August.
