Brokerage Citigroup predicts that Macau\u2019s GGR will recover to 70 per cent of 2019 levels in January.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau\u2019s gross gaming revenue (GGR) <\/strong>will reach MOP$17.5bn (US$2.2bn) in January, <\/strong>according to the latest insights from brokerage Citigroup. This projection signifies the city’s GGR will reach 70 per cent of the 2019 levels, previous to the Covid-19 pandemic. <\/p>\n\n\n\n Citigroup’s research report highlights that December 2023 exceeded expectations, recording a GGR of MOP18.56bn (US$2.3bn), showcasing a daily run-rate surpassing both market and broker projections by approximately 6 per cent.<\/p>\n\n\n\n The average daily run-rate in late December experienced a notable increase, reaching around MOP683m, compared to the MOP 543m reported in the preceding week. Citigroup analysts interpret this surge as an indicative factor of potential growth continuity in the upcoming period.<\/p>\n\n\n\n In parallel, brokerage firm Morgan Stanley has predicted that Macau\u2019s ggr will rise 28 per cent year-on-year in 2024<\/a> and reach 80 per cent of pre-pandemic levels. <\/p>\n\n\n\n The broker predicts Macau’s January GGR to remain relatively stable, following the typical seasonality pattern, with a forecast of MOP18.8bn, reflecting a recovery to approximately 75 per cent of the 2019 levels.<\/p>\n\n\n\n The Gaming Inspection and Coordination Bureau <\/strong>reported that Macau\u2019s GGR for 2023<\/a> was MOP183.06bn. That\u2019s a rise of 333.8 per cent when compared to 2022<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Brokerage Citigroup predicts that Macau\u2019s GGR will recover to 70 per cent of 2019 levels in January.<\/p>\n","protected":false},"author":176,"featured_media":27875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Brokerage firms Citigroup and Morgan Stanley project significant recovery in Macau's Gross Gaming Revenue (GGR) for January and the full year 2024, approaching pre-pandemic 2019 levels. Citigroup forecasts January GGR at 70% of 2019, while Morgan Stanley anticipates 75% for January and 80% for 2024, building on a strong December 2023 performance that exceeded market expectations.","focusai_entities":"Citigroup, Morgan Stanley, Gaming Inspection and Coordination Bureau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.98), marketing_crm (0.75), investor_analyst (0.99), supplier_vendor (0.78), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Macau GGR Recovery Drivers?","query":"What specific market dynamics, policy changes, or consumer behavior shifts are Citigroup and Morgan Stanley attributing to the accelerated GGR recovery in Macau beyond initial projections?"},{"label":"Impact on Operator Valuations?","query":"How do these revised GGR projections for Macau influence the consensus earnings estimates and valuation multiples for publicly traded casino operators with significant exposure to the region?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23906],"class_list":["post-777012278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012278","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=777012278"}],"version-history":[{"count":1,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012278\/revisions"}],"predecessor-version":[{"id":777012279,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012278\/revisions\/777012279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/27875"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}