Citigroup raised forecast of Macau’s gaming revenue in August

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Citigroup raised its forecast of Macau gross gaming revenue (GGR) in August from 1.5 billion patacas to 2.25 billion patacas, expecting the sector recovery momentum to persist.

Through industry channels, the bank learned that Macau’s GGR for the first 21 days of August may have reached around 1.4 billion patacas, implying daily run-rate last week of around 86 million patacas, above that of the previous week at about 79 million patacas per day.

Macau recorded more than 17,000 tourist arrivals on Saturday, August 20, the highest daily figure since the quarantine-free travel between Macau and neightboring mainland city Zhuhai resumed at the start of August, according to data released by the Macao Government Tourism Office. Read more …