{"id":777031486,"date":"2025-09-10T07:54:02","date_gmt":"2025-09-10T10:54:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777031486"},"modified":"2026-04-21T19:19:15","modified_gmt":"2026-04-21T22:19:15","slug":"citigroup-raises-macau-full-year-ggr-forecast","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/citigroup-raises-macau-full-year-ggr-forecast","title":{"rendered":"Citigroup raises Macau full-year GGR forecast"},"content":{"rendered":"\n<p>Analysts expect annual gaming revenue to reach US$31.1bn.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Citigroup has revised upwards its gross gaming revenue (GGR) forecast for Macau\u2019s casino sector. Analysts now expect GGR for 2025 to reach MOP248.6bn (US$31.1bn), up from a <a href=\"https:\/\/focusgn.com\/asia-pacific\/citigroup-expects-macau-ggr-to-rise-in-h2\" target=\"_blank\" rel=\"noreferrer noopener\">previous estimate<\/a> of MOP235.7bn (US$29.15bn). Both figures are higher than <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-government-lowers-ggr-forecast-for-2025\" target=\"_blank\" rel=\"noreferrer noopener\">government estimates<\/a>.<\/p>\n\n\n\n<p>Analysts George Choi and Timothy Chau noted that the rise in forecast growth from plus 7 per cent to 10 per cent would imply a 14-per cent year-on-year growth for the rest of the year. They also raised their 2026 GGR year-on-year growth forecast from 5 per cent to 7 per cent at MOP265.5bn (US$33.3bn).<\/p>\n\n\n\n<p>GGR growth is expected to be driven by concerts and events hosted by the city\u2019s casino operators and the increasing popularity of baccarat side bets.<\/p>\n\n\n\n<p>The analysts concluded: \u201cThe rich concert\/event calendar that the casino operators are putting together over the next several months will continue to appeal to premium players. Also, the six casino operators have been introducing some new side bets to their baccarat games. These side bets are significantly enhancing house advantages. We are seeing signs that these side bets are pushing up casino hold rates, and this makes us more comfortable with our current GGR forecasts.\u201d<\/p>\n\n\n\n<p>Jefferies\u00a0has also raised its gross gaming revenue (GGR) forecast for Macau. Analysts expect <a href=\"https:\/\/focusgn.com\/asia-pacific\/jefferies-raises-macau-gambling-revenue-forecast\" data-type=\"link\" data-id=\"https:\/\/focusgn.com\/asia-pacific\/jefferies-raises-macau-gambling-revenue-forecast\" target=\"_blank\" rel=\"noreferrer noopener\">GGR for 2025 to reach MOP248bn (US$31.8bn)<\/a>, up from their\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/jefferies-cuts-macau-ggr-forecast-2\" target=\"_blank\" rel=\"noreferrer noopener\">previous estimate<\/a>\u00a0of MOP237bn (US$29.3bn). Jefferies cited the impact of\u00a0entertainment events\u00a0and\u00a0new properties\u00a0as well as operators offering \u201cmore incentives to players,\u201d and \u201cnew wealth\u201d benefiting gamblers due to positive performances in the real estate, stock and cryptocurrency markets<\/p>\n\n\n\n<p>Last&nbsp;week, the Gaming Inspection and Coordination Bureau (DICJ) reported that Macau\u2019s gross gaming revenue (GGR) was&nbsp;<a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-reaches-highest-monthly-total-since-the-pandemic-in-august\" target=\"_blank\" rel=\"noreferrer noopener\">MOP22.16bn (US$2.76bn)&nbsp;in August<\/a>. That\u2019s an increase of 12.2 per cent in year-on-year terms and slightly higher than&nbsp;<a href=\"https:\/\/focusgn.com\/asia-pacific\/in-july-macau-ggr-reaches-highest-monthly-total-since-the-pandemic\" target=\"_blank\" rel=\"noreferrer noopener\">July\u2019s GGR<\/a>&nbsp;of MOP22.13bn (US$2.73bn). Cumulatively, Macau\u2019s GGR for the first eight months of 2025 was MOP163.05bn (US$19.11bn), up 7.2 per cent year-on-year. The figure was 11.7 per cent below pre-pandemic levels (MOP198.22bn \/ US$24.75bn).<\/p>\n\n\n<div id=\"see-also-container\">\n\t\t\t<span class=\"see-also-label\">See also:<\/span><\/p>\n<div class=\"related-article\">\n\t\t\t\t<img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2025\/06\/Macau-to-decide-if-Hong-Kong-visitors-could-enter-casinos-300x200.jpg\" alt=\"\"><\/p>\n<p class=\"related-article__text\">\n\t\t\t\t\t<span class=\"see-also-label-strong\">See also:<\/span> <a href='https:\/\/focusgn.com\/asia-pacific\/macau-casino-revenue-was-us554-4m-in-first-seven-days-of-september-jp-morgan-says'>Macau casino revenue was US$554.4m in first seven days of September, JP Morgan says<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>Analysts expect annual gaming revenue to reach US$31.1bn.<\/p>\n","protected":false},"author":226,"featured_media":25493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Analysts from Citigroup and Jefferies have revised upwards their Gross Gaming Revenue (GGR) forecasts for Macau's casino sector for 2025 and 2026, citing strong performance drivers. Key factors include a robust calendar of concerts and events, the introduction of high-hold baccarat side bets, new properties, and increased player incentives, leading to expectations of significant year-on-year growth. This positive outlook positions Macau's GGR to continue its recovery, albeit still below pre-pandemic levels.","focusai_entities":"Citigroup, Jefferies, George Choi, Timothy Chau, Gaming Inspection and Coordination Bureau (DICJ), JP Morgan","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.85), operator_casino (0.98), investor_analyst (0.99), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Side Bets?","query":"What specific regulatory or operational implications might arise from the increasing reliance on baccarat side bets to enhance house advantages and drive GGR in Macau?"},{"label":"Sustainability of Growth?","query":"Given the reliance on events and 'new wealth' for GGR growth, what are the long-term sustainability factors and potential vulnerabilities for Macau's gaming market beyond 2026?"}],"footnotes":""},"categories":[28,16338],"tags":[29,24868,257],"class_list":["post-777031486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-casino","tag-citigroup","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031486","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777031486"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031486\/revisions"}],"predecessor-version":[{"id":777031494,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777031486\/revisions\/777031494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25493"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777031486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777031486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777031486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}