Citigroup Holds Steady on Macau's May Gaming Revenue Forecast at MOP 22.5 Billion

Stock News15:16

According to industry sources, Macau's gaming revenue for the first 17 days of May is estimated to have reached approximately MOP 12.65 billion. The average daily gaming revenue for the preceding week was about MOP 693 million, representing an 11% decline from the average of roughly MOP 780 million during the first 10 days of May, which included the Labor Day holiday. However, this figure shows a 1% increase compared to the average daily revenue of about MOP 684 million during the same period last May.

Upcoming major events are anticipated to stimulate gaming demand. Specifically, Sands China Ltd (01928) is scheduled to host an IVE concert at The Venetian Theatre, while GALAXY ENT (00027) will present an EXO concert and a UFC Fight Night event at the Galaxy Arena.

The institution maintains a conservative forecast for May's total gaming revenue at MOP 22.5 billion, which would signify a 6% year-on-year growth. Achieving this target would require an average daily gaming revenue of about MOP 704 million for the remainder of the month.

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