Citigroup forecasts 5% growth for Macau GGR in October

The bank noted strong advanced hotel bookings and robust demand from affluent players.

Macau.- Citigroup has projected that Macau’s gross gaming revenue (GGR) for October will reach MOP20.5bn ($2.56bn), a 5 per cent year-on-year increase. Analyst George Choi said the growth would be driven by strong advanced hotel bookings and robust demand from affluent players.

The report highlights optimistic expectations for the National Day Golden Week, with GGR anticipated to average around MOP900m ($112m) per day during the holiday period, aligning closely with the run rates observed during this year’s Chinese New Year and Labor Day holidays.

See also: Tourism in Macau: MGTO now expects over 100,000 visitors a day for October Golden Week

Citigroup said gaming demand from the Premium Mass segment, which represents approximately 60 per cent of total mass GGR, continues to be robust. However, its most recent survey conducted in September 2024 indicated a decline in average baccarat minimum bets for the first time since reopening from the pandemic, signalling potential weaknesses in the grind mass sector.