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<Research>Citi: MO Last Dec GGR Misses; Forecast 10.5% YoY Rise for Jan-Feb Combined GGR
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Macau's GGR for December 2025 reached MOP20.888 billion, averaging approximately MOP674 million per day, marking a YoY growth of 15%, equivalent to about 91% of December 2019 levels, Citi said in a report. This figure was approximately 5% below the broker's forecast and 3% below street consensus. The broker attributed this to an unusually low VIP hold, likely below 3%. Macau's GGR for the entire year of 2025 whopped MOP247.4 billion, representing a YoY elevation of 9%, surpassing the Macau government's initial forecast of MOP240 billion and the later revised forecast of MOP228 billion. Looking ahead to January 2026, Macau will kick off with a series of exciting events, including the "Melody Journey II Music Festival" hosted by Jiangsu TV and iQIYI on January 2, and the Super Junior concert at the Galaxy Arena from January 9 to 11. The broker maintained its forecast for January 2026 GGR at MOP21.5 billion, averaging approximately MOP694 million per day, indicating a YoY rise of 18%. The forecast for the combined GGR for January-February, taking into account the difference in timing of the Lunar New Year this year and last year, is MOP42 billion, indicating a YoY hike of 10.5%. AASTOCKS Financial News Website: www.aastocks.com |
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