Citigroup says Macau’s casino gross gaming revenue reached a daily run-rate of MOP543m.
Macau.- Analysts at Citigroup have reported that Macau’s casino gross gaming revenue (GGR) for the first 12 days of November was MOP6.6bn (US$820.5m). That’s equivalent to an average daily revenue of MOP543m, down 3 per cent when compared to the initial five days of the month.
Citigroup maintained its forecast for November’s full-month GGR at MOP16bn, 70 per cent of November 2019 results. Analysts George Choi and Ryan Cheung speculated that a slightly slower run rate after the first five days could be attributed to prominent players avoiding Macau during the Grand Prix weekends. They noted a 7 per cent week-on-week drop in daily GGR during the Grand Prix in 2019.
The 70th edition of the Macau Grand Prix took place on November 11 and 12 and will continue November 16 to 19.
In October, Macau’s GGR was up 30.6 per cent month-on-month, rising from MOP14.94bn in September to MOP19.50bn (US$2.42bn). GGR was up 400.2 per cent when compared to last October. Cumulatively, Macau’s GGR for the first ten months of 2023 was MOP148.44bn (US$18.44bn), up 315.6 per cent compared to the same period in 2022.