Lates News

Citibank released a research report stating that based on industry sources, Macau's gross gaming revenue (GGR) for the first 13 days of July was 9.05 billion Macau patacas. This means that the average daily revenue for the week of July 7th to 13th was 679 million Macau patacas, a decrease of about 5% compared to the first 6 days of July, but still 13% higher than the average for July last year. The bank believes that this decrease is not surprising as the Jacky Cheung concert ended on July 6th, and considers the decline to be slightly lower than expected. Additionally, VIP casino volume remained roughly stable month-on-month, while mass market GGR increased by 0 to 3%; VIP win rate declined compared to the first 6 days of the month. Therefore, the bank raised its July GGR forecast from 20 billion Macau patacas to 21 billion Macau patacas, equivalent to a 13% increase year-on-year and 86% of the 2019 level. It is expected that the average daily GGR for the remaining days of July will be 664 million Macau patacas.