Citigroup Forecasts February Macau Gaming Revenue at MOP20.5 Billion

Stock News02-02 11:52

Citigroup has released a research report indicating that Macau's gaming revenue reached MOP22.633 billion in January this year. The average daily gaming revenue was approximately MOP730 million, representing a year-on-year increase of 24% and recovering to about 91% of the level seen in the same month of 2019. This figure came in roughly 5% higher than market expectations.

Looking ahead to February, the bank anticipates seasonal softness due to the Lunar New Year holiday. It believes the low season may persist from February 3rd to February 18th, with the peak season occurring during the five days immediately following the Lunar New Year.

The bank forecasts February's gaming revenue to reach MOP20.5 billion, equating to an average daily rate of approximately MOP732 million, which would represent a projected year-on-year growth of 4%.

After adjusting for the differences in the timing of the Lunar New Year period between this year and last, the bank projects the combined gaming revenue for January and February to be MOP43.1 billion. This implies a significant year-on-year increase of 13.5%.

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