Citigroup expects Macau GGR to rise 10% year-on-year in August
Analysts have raised their forecast for Macau’s gross gaming revenue.
Macau.- Analysts at Citigroup have predicted that Macau’s gross gaming revenue (GGR) could grow 10 per cent year-on-year this month. The banking group has raised its forecast for August casino GGR from MOP21.50bn (US$2.67bn) to MOP21.75bn (US$2.70bn). That would be almost 90 per cent of the August 2019 figure.
Analysts George Choi and Timothy Chau based the forecast on estimates that Macau’s GGR for the first 17 days of August reached MOP12.1bn (US$1.5bn). This implies a daily run-rate of about MOP729m (US$90.6m) last week, for a circa 4 per cent increase versus the first ten days and circa 14 per cent higher versus the August 2024 average (MOP637m a day).
Analysts said that despite heavy rain caused by Typhoon Podul last week, gaming activity remained robust. Based on industry sources, VIP volumes fell circa 2 per cent to 4 per cent month-on-month, but mass GGR grew circa 1 per cent to 2 per cent. “VIP hold rate appears to be higher than that of the first ten days of August,” they added.
The last report from Gaming Inspection and Coordination Bureau (DICJ) shows that Macau’s gross gaming revenue (GGR) was MOP22.13bn (US$2.73bn) in July, up 19 per cent in year-on-year terms to the best monthly performance since January 2020, just before the onset of the Covid-19 pandemic
Last week, analysts at JP Morgan Securities (Asia Pacific) predicted that Macau’s gross gaming revenue (GGR) could grow 13 per cent year-on-year in the second half of 2025. That would represent an increase from the 4 per cent growth recorded in H1 2025.
