{"id":777017362,"date":"2024-07-18T10:08:31","date_gmt":"2024-07-18T13:08:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777017362"},"modified":"2026-04-22T08:02:27","modified_gmt":"2026-04-22T11:02:27","slug":"clsa-expects-macau-ggr-to-reach-us28-6bn-this-year","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/clsa-expects-macau-ggr-to-reach-us28-6bn-this-year","title":{"rendered":"CLSA expects Macau GGR to reach US$28.6bn this year"},"content":{"rendered":"\n<p>CLSA has lowered its forecast by 3 per cent.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Investment group\u00a0<strong>CLSA<\/strong> has adjusted its gross gaming revenue (GGR) forecast for Macau downwards by 3 per cent to MOP232.7bn (US$28.6bn). That figure would be a rise of 27 per cent year-on-year. For 2025, it forecasts MOP241.7bn, which would be a rise of 3.9 per cent from 2024.<\/p>\n\n\n\n<p>The adjustments were made in response to <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-16-4-year-on-year-in-june\" target=\"_blank\" rel=\"noreferrer noopener\">weaker GGR in June<\/a>, a projected decrease in inbound visitors, and China&#8217;s crackdown on illegal money exchange. Analysts<strong>\u00a0Jeffrey Kiang\u00a0<\/strong>and<strong>\u00a0Leo Pan<\/strong>\u00a0said the adjustments were based on the city&#8217;s Gaming Inspection and Coordination Bureau\u00a0(DICJ) reported second-quarter 2024 GGR figures, which were 1.6 per cent lower than for the first quarter of 2024.<\/p>\n\n\n\n<p>CLSA&#8217;s analysts expect the sector&#8217;s EBITDA margin to contract by 1.2 percentage points to 30.3 per cent for the second quarter of 2024.<\/p>\n\n\n\n<p><strong>See also: <\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/morgan-stanley-says-money-exchange-crackdown-could-impact-macau-casino-ebitda\" rel=\"noreferrer noopener\">Morgan Stanley says money exchange crackdown could impact Macau casino EBITDA<\/a><\/p>\n\n\n\n<p>In June, GGR was MOP17.69bn (US$2.20bn), up 16.4 per cent year-on-year but down\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-29-7-in-may\" target=\"_blank\" rel=\"noreferrer noopener\">12.4 per cent month-on-month<\/a>. This was the lowest figure recorded so far in the year and analysts speculated that this could set the benchmark for Macau&#8217;s monthly GGR for the rest of 2024.<\/p>\n\n\n\n<p>Cumulatively, Macau\u2019s GGR for the half of 2024 was MOP113.8bn (US$14.20bn), up 41.9 per cent year-on-year but 23.9 per cent below the same period in 2019. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>CLSA has lowered its forecast by 3 per cent.<\/p>\n","protected":false},"author":176,"featured_media":777013109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"CLSA has revised its Gross Gaming Revenue (GGR) forecasts for Macau downwards by 3% for 2024 and 2025, citing weaker June GGR, anticipated decreases in inbound visitors, and China's intensified crackdown on illegal money exchange. The adjustment reflects a projected contraction in the sector's EBITDA margin for Q2 2024 and sets a potentially lower benchmark for monthly GGR for the remainder of the year.","focusai_entities":"CLSA, Jeffrey Kiang, Leo Pan, Gaming Inspection and Coordination Bureau, DICJ, Morgan Stanley","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), payments_fraud_aml (0.8), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Operator Valuations?","query":"Given the revised GGR forecasts and EBITDA margin contraction, what is the projected impact on the enterprise valuations and share price targets for major Macau concessionaires?"},{"label":"Regulatory Enforcement Details?","query":"What specific regulatory enforcement mechanisms or policy changes are anticipated from China's crackdown on illegal money exchange, and how might these further constrain VIP or premium mass GGR segments?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777017362","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\/777017362","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=777017362"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017362\/revisions"}],"predecessor-version":[{"id":777017386,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017362\/revisions\/777017386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777013109"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}