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HomeNewsMacauCitigroup retains Macau July GGR estimates at $2 billion 

Citigroup retains Macau July GGR estimates at $2 billion 

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.

Macau received some 11.6 million visitors in the first half of the year, and authorities are expecting nearly 24 million tourists by the end of the year.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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