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<Research>Citi Raises Sep MO GGR Forecast to MOP20B, Up 16% YoY
Recommend 40 Positive 69 Negative 22 |
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Macau's August GGR reached MOP22.156 billion, with a daily average GGR of about MOP715 million, up 12% YoY, recovering to 91% of the August 2019 level, Citi Research issued a research report saying. This monthly GGR was a post-pandemic high, roughly in line with the expectations of the broker/ market. More importantly, Macau has achieved double-digit monthly GGR growth for 3 consecutive months, reflecting the impact from heightened gaming sentiment and various events last month. Looking ahead to September, Macau's event calendar remains rich, and the broker believed that these activities will help mitigate the seasonally slower GGR. Therefore, Citi Research raised its September GGR forecast from MOP19 billion to MOP20 billion, with daily average GGR of approx. MOP667 million, implying a YoY growth of 16%, due to the lower base in the same period last year. AASTOCKS Financial News Website: www.aastocks.com |
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