Citigroup raised forecast of Macau’s gross gaming revenue in June
DATA VIEWS & ANALYSIS
Citigroup raised forecast of Macau’s gross gaming revenue in June
DATA VIEWS & ANALYSIS

Citigroup raised forecast of Macau’s gross gaming revenue in June

 

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Macau’s gross gaming revenue for the first 18 days of June may have reached about MOP9.5 billion, and in particular, the gambling revenue last week may have reached about MOP571 million, rising by 8% from the prior week, likely driven by Jacky Cheung’s concert held at the Venetian Macao CotaiArena last weekend, Citigroup said in a research note .

Industry data showed that VIP gaming volume was roughly flat during the period, while mass market was up about 5% to 7%, the note said. 

The bank raised the forecast for Macau’s gross gaming revenue in June to 15.5 billion patacas from its previous forecast of 13.5 billion patacas, implying that the average daily gambling revenue for the rest of the month will reach about 500 million patacas, it said.