Macau GGR rises as World Cup impact wanes
Daily gaming revenue has improved in the past week.
Macau.- Citigroup Analysts George Choi and Timothy Chau have said that Macau’s average daily GGR improved to MOP679m (US$84m) last week, up from MOP621m (US$76.8m) in the week beginning July 6. However, the group is maintaining its July forecast of MOP 21bn, which implies average daily GGR of MOP746m (US$92.3m) over the remaining 12 days as the analysts believe the recovery is not strong enough to offset softer performance earlier in the month.
Citi remains constructive on Macau’s medium-term outlook. Analysts expect an upcoming wave of concerts to stimulate casino visitation and gaming demand following yesterday’s conclusion of the World Cup. They highlighted events such as The Music of Chan Fai Young: King of POP, featuring singers Eason Chan and Joey Yung, and Hins Cheung’s UNPLUGGED2 concert as potential catalysts.
