Citigroup: Conservative downward revision of September Macau gaming revenue forecast to 17.75 billion Macau patacas.

Citibank released a research report stating that, according to industry sources, Macau's gaming revenue in the first fifteen days of September may reach about 8.5 billion Macau dollars, meaning a daily gaming revenue of about 536 million Macau dollars, a decrease of about 10% from the daily gaming revenue of about 594 million Macau dollars in the first eight days of September, and the recent win rate may be lower than the performance in the first eight days of the month. According to industry sources, VIP room performance declined by 8 to 10% compared to the previous month, while the mass market segment declined by 10 to 12%. Although the weekly performance seems significantly weak, the bank suspects that this reflects some players choosing to postpone their trip to Macau until the Mid-Autumn Festival (from September 15th to 17th). Despite this, the bank conservatively revised down the forecast for Macau's gaming revenue in September from 18.25 billion Macau dollars to 17.75 billion Macau dollars (up 19% year-on-year; about 80% of the level in September 2019) to reflect the trends since the beginning of the month, meaning a daily gaming revenue of 617 million Macau dollars for the rest of the month.