{"id":777018990,"date":"2024-09-12T09:47:24","date_gmt":"2024-09-12T12:47:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018990"},"modified":"2026-04-22T06:12:42","modified_gmt":"2026-04-22T09:12:42","slug":"macau-ggr-reaches-us591-4m-in-first-eight-days-of-september-citigroup-says","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-reaches-us591-4m-in-first-eight-days-of-september-citigroup-says","title":{"rendered":"Macau GGR reaches US$591.4m in first eight days of September, Citigroup says"},"content":{"rendered":"\n

Citigroup says daily average gross gaming revenue was MOP$594m.<\/p>\n\n\n\n\n\n\n\n

Macau.- Analysts at\u00a0Citigroup\u00a0have estimated that\u00a0Macau\u2019s gross gaming revenue (GGR) for the first eight days of September was\u00a0MOP$4.75bn (US$591.4m). The estimated GGR run-rate was MOP594m a day, down 6 per cent when compared to the last 13 days of August.<\/p>\n\n\n\n

VIP volumes were down 7 to 10 per cent month-on-month and mass volumes were down 5 to 8 per cent month-on-month. Analyst George Choi said the gaming industry was hardly affected by Typhoon Yagi, but Citigroup has revised down its GGR estimate for the month from MOP18.5bn to MOP18.25bn. This would represent a 22 per cent year-on-year increase to approximately 83 per cent of the same month in 2019.<\/p>\n\n\n\n

In August, Macau casinos generated MOP19.75bn (US$2.46bn) in GGR. The figure was up 14.8 per cent year-on-year and 6.2 per cent sequentially<\/a>. It was the second-best monthly tally of the year after May<\/a> but was down by 18.6 per cent compared to August 2019.<\/p>\n\n\n\n

Cumulatively, Macau\u2019s GGR for the first eight months of 2024 was MOP152.10bn (US$19.92bn), up 33.4 per cent year-on-year but 23.3 per cent below the same period in 2019 (US$24.66bn).<\/p>\n\n\n\n

See also: <\/strong>MGTO expects 100,000 visitors a day for National Day Golden Week<\/a><\/p>\n\n\n\n

Macau gaming sector operating expenses rise 236.7% in 2023<\/h2>\n\n\n\n

The Macau Statistics and Census Service has reported the city\u2019s gaming sector operating expenses reached MOP31.07bn (US$3.95bn) in 2023. That\u2019s a rise of 236.7 per cent year-on-year but is logical considering the lifting of Covid-19 restrictions early last year.<\/p>\n\n\n\n

The costs associated with complimentary services provided to customers, such as hotel stays, food, and beverages, rose by 365.1 per cent to MOP19.51bn. Total expenditure was up 98.6 per cent year-on-year, to MOP80.07bn. The largest growth was in the purchase of goods, commissions, and customer rebates, up 386.4 per cent to MOP18.12bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Citigroup says daily average gross gaming revenue was MOP$594m.<\/p>\n","protected":false},"author":176,"featured_media":777009898,"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 analysts estimate Macau's GGR for early September at MOP$4.75bn, with daily run-rates showing a sequential decline in both VIP and mass segments. Despite a slight downward revision for the full month's GGR, the sector continues to demonstrate significant year-on-year growth, albeit remaining below 2019 pre-pandemic levels. Concurrently, Macau's gaming sector operating expenses surged in 2023, driven by increased complimentary services and customer rebates following the lifting of COVID-19 restrictions.","focusai_entities":"Citigroup, George Choi, Macau Statistics and Census Service","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Outlook Revision","query":"What specific factors, beyond the minor impact of Typhoon Yagi, led Citigroup to revise Macau's September GGR estimate downwards, and what are the implications for Q3 performance?"},{"label":"Operating Expense Impact","query":"How are Macau's integrated resort operators managing the substantial 236.7% year-on-year increase in operating expenses, particularly the 365.1% surge in complimentary services, and what is the projected impact on NGR margins?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777018990","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\/777018990","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=777018990"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018990\/revisions"}],"predecessor-version":[{"id":777019016,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018990\/revisions\/777019016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777009898"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}