{"id":777012879,"date":"2024-02-05T10:00:32","date_gmt":"2024-02-05T13:00:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777012879"},"modified":"2026-04-22T13:21:03","modified_gmt":"2026-04-22T16:21:03","slug":"citigroup-raises-macau-ggr-forecast-to-us29bn","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/citigroup-raises-macau-ggr-forecast-to-us29bn","title":{"rendered":"Citigroup raises Macau GGR forecast to US$29bn"},"content":{"rendered":"\n<p>Citigroup has revised its forecast for 2024 due to strong January results.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Analysts at <strong>Citigroup<\/strong> have revised their 2024 outlook for Macau&#8217;s gaming sector, forecasting gross gaming revenue (GGR) of MOP231.3bn (US$29bn).\u00a0<strong>George Choi\u00a0<\/strong>and\u00a0<strong>Ryan Cheung\u00a0<\/strong>attributed the revision to January&#8217;s performance (around <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-67-in-january\" target=\"_blank\" rel=\"noreferrer noopener\">MOP19.34bn (US$2.4bn<\/a>, up 67 per cent year-on-year).<\/p>\n\n\n\n<p>They noted that the usual pre-Chinese New Year slowdown had not yet occurred and that Enhypen\u00a0concerts at Galaxy Arena had helped maintain tourism and spending activity in Macau.\u00a0<\/p>\n\n\n\n<p>Citigroup&#8217;s full-year forecast would represent a 79 per cent recovery compared to pre-Covid 2019 levels. Analysts anticipate a potential rise in casino revenue for February, increasing their initial prediction from MOP18.5bn to MOP19.5bn.\u00a0They forecast a daily run-rate of MOP567m for the first 11 days of February, a rise to MOP900m from February 12 to 17 during Chinese New Year celebrations, and then MOP655m.\u00a0<\/p>\n\n\n\n<p>Secretary for economy and finance<strong>\u00a0Lei Wai Nong<\/strong>\u00a0has said that <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-affirms-gaming-revenue-target-for-2024\" target=\"_blank\" rel=\"noreferrer noopener\">Macau\u2019s GGR target for 2024<\/a> is MOP216bn (US$26.8bn).\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Citigroup has revised its forecast for 2024 due to strong January results.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"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 2024 Gross Gaming Revenue (GGR) forecast for Macau's gaming sector upwards to MOP231.3bn (US$29bn), citing strong January performance and sustained tourism activity. This new projection represents a 79% recovery compared to pre-Covid 2019 levels, surpassing the Macau government's target of MOP216bn.","focusai_entities":"Citigroup, George Choi, Ryan Cheung, Enhypen, Galaxy Arena, Lei Wai Nong","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"GGR Forecast Drivers?","query":"What specific factors beyond January's performance and the Enhypen concerts are underpinning Citigroup's increased confidence in Macau's 2024 GGR recovery, particularly concerning VIP vs. mass market segments?"},{"label":"Operator Impact Analysis?","query":"How might this revised GGR forecast differentially impact the financial performance and strategic priorities of individual integrated resort operators in Macau, considering their diverse market positioning and asset portfolios?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777012879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012879","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=777012879"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012879\/revisions"}],"predecessor-version":[{"id":777012915,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012879\/revisions\/777012915"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}