CLSA cuts Macau 2026 GGR forecast after weak June performance and expectation of a soft July
Analysts believe the market consensus assumes a stronger acceleration in the second half of the year than what recent performance suggests.
Macau.- CLSA has lowered its forecast for Macau’s 2026 gross gaming revenue (GGR). It now expects annual growth of 2.3 per cent to MOP253.2bn (US$31.3bn) after a weaker-than-expected June and a softer outlook for July.
The revised forecast follows a 12 per cent year-on-year decline in June GGR. CLSA also expects July revenue to be down 12 per cent year-on-year at MOP19.5bn (US$2.41bn), although it anticipates daily GGR to recover from mid-July as the impact of the FIFA World Cup fades.
However, CLSA believes the market consensus forecast assumes a stronger acceleration in the second half of the year than recent performance suggests. However CLSA says that Macau’s premium segment remains resilient. It estimates that GGR per overnight visitor increased 7 per cent year-on-year during April and May, suggesting that higher-value customers continue to support gaming revenues as the proportion of overnight visitors declined.
