{"id":34300,"date":"2022-10-11T07:36:48","date_gmt":"2022-10-11T10:36:48","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34300"},"modified":"2026-04-23T04:04:38","modified_gmt":"2026-04-23T07:04:38","slug":"citigroup-cuts-predictions-for-macaus-ggr-in-october-to-us680-2m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/citigroup-cuts-predictions-for-macaus-ggr-in-october-to-us680-2m","title":{"rendered":"Citigroup cuts predictions for Macau&#8217;s GGR in October to US$680.2m"},"content":{"rendered":"\n<p>Analysts at Citigroup had previously predicted Macau&#8217;s GGR in October could reach MOP7.0bn (US$865.7m).<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Analysts at Citigroup have reduced their estimates for Macau\u2019s October GGR. Citigroup had previously predicted that Macau&#8217;s GGR could reach MOP7.0bn (US$865.7m). However, analysts now forecast MOP5.5bn (US$680.2m) due to weak revenue during October Golden week.<\/p>\n\n\n\n<p>Macau\u2019s average daily casino <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macaus-ggr-for-first-nine-days-of-october-stands-at-us210-2m\" target=\"_blank\">gaming revenue (GGR) in the first nine days of October<\/a>&nbsp;was MOP1.7bn (US$210.2m), or about MOP190m a day. The Macau Government Tourism Office (MGTO) reported that <strong>182,000 visitors<\/strong>&nbsp;arrived in Macau between October 1 and 7, 163,000 of them from mainland China. It reported&nbsp;<strong>an average daily volume of 26,000 visitors<\/strong> during October Golden Week. <\/p>\n\n\n\n<p>However, analysts said the daily average casino GGR in Macau during the national holiday period was lower than the MOP200m a day during the Labour Day holidays in May. Revenue was also lower than that recorded during the Chinese New Year holiday period from late January to early February.<\/p>\n\n\n\n<p>Citigroup attributed the weaker results to&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/china-sees-new-rise-in-covid-19-cases-during-october-golden-week\" target=\"_blank\">a fresh increase in Covid-19 cases<\/a>&nbsp;in mainland China. However, they noted that in the week following Chinese New Year, Macau saw a spike in GGR, suggesting that something similar could happen this month.<\/p>\n\n\n\n<p>In September,&nbsp;<strong>gross gaming revenue&nbsp;<\/strong>was&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-35-3-in-september\" target=\"_blank\">up 35.4 per cent month-on-month<\/a>&nbsp;from MOP2.19bn (US$270.8m) to MOP2.96bn (US$366.3m). <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Citigroup had previously predicted Macau&#8217;s GGR in October could reach MOP7.0bn (US$865.7m).<\/p>\n","protected":false},"author":176,"featured_media":22068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Citigroup has revised its October Gross Gaming Revenue (GGR) forecast for Macau downwards to MOP5.5bn from MOP7.0bn, attributing the reduction to weaker performance during the Golden Week holiday period. This underperformance, driven by a fresh increase in Covid-19 cases in mainland China, saw average daily GGR below previous holiday periods, though a post-holiday rebound is suggested by historical trends.","focusai_entities":"Citigroup, Macau Government Tourism Office","focusai_location":"Macau, mainland China","focusai_target_profile":"ceo_executive (0.9), operator_casino (1.0), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Post-Golden Week Rebound?","query":"What specific indicators or historical precedents beyond Chinese New Year suggest a potential GGR rebound in Macau following the October Golden Week, and what is the projected magnitude of such a recovery?"},{"label":"Impact on Operator Margins?","query":"Given the reduced GGR forecast, how are Macau's integrated resort operators expected to manage their operational expenditures and maintain EBITDA margins, particularly in light of ongoing visitation volatility?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-34300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=34300"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34300\/revisions"}],"predecessor-version":[{"id":34329,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34300\/revisions\/34329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22068"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}