Citigroup has retained its estimate on Macau’s July casino gross gaming revenue (GGR) of MOP16 billion ($2 billion). This represents that GGR in July may exceed May’s GGR level, the highest monthly GGR recorded after COVID, at MOP15.6 billion ($1.93 billion).
The investment bank notes that Macau GGR may have reached MOP11.9 billion ($1.5 billion) over the first 23 days of July, implying an average daily run-rate of about MOP521 million ($65 million) for the past week, which would be 6 percent higher than the week before.
The research team from Citigroup notes that VIP volume remained flattish month-to-month, while mass volume expanded approximately 2-4 percent year-on-year.
In June, Macau recorded GGR of MOP15.21 billion ($1.88 billion), down 2.3 percent from the MOP15.57 billion recorded in May. This was the first month the gaming hub has reported GGR dropping month-to-month since travel restrictions were removed early this year.
Macau’s casino GGR stood at MOP80.14 billion ($9.93 billion) for the first half year, an increase of 205 percent from a year earlier. The tally represents only 54 percent of GGR of MOP150 billion ($18.5 billion) in 1H19.
Macau’s tourism office indicates that visitor arrivals in July and August may hover around a daily average of 80,000. Such a daily tally may bring the total monthly visitor arrival figure to around 2.4 million.