Citigroup Forecasts Macau February Gambling Revenue at MOP 20 Billion, Up 1% Year-on-Year

Stock News02-23 16:04

According to a research report from Citigroup, Macau welcomed 1.2125 million visitors during the first seven days of the Lunar New Year holiday period. Among them, the number of visitors on February 19 alone reached 227,900, setting a new single-day record. Mainland Chinese tourists accounted for approximately 76.9% of total visitors, while Hong Kong tourists made up about 16.5%. The bank views Macau's tourism trend as positive and in line with projections from the Macau Government Tourism Office.

Citigroup estimates Macau's gambling revenue for February 2024 will reach MOP 20 billion, representing a 1% increase compared to the same period last year and recovering to around 79% of the level seen in February 2019. Specifically, the bank expects average daily gambling revenue between February 19 and 23 to be approximately MOP 1.1 billion, while average daily revenue for the rest of February is projected to be around MOP 750 million.

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