Citigroup: It is estimated that Macau's gambling revenue in February will be 20.5 billion Macau dollars.
Citigroup forecasted combined gambling revenue for January and February to be 43.1 billion Macau patacas, indicating a year-on-year increase of 13.5%.
Citi released a research report stating that in January this year, Macau's gambling revenue reached 22.633 billion Macau dollars, with daily gambling revenue of about 730 million Macau dollars, a 24% year-on-year increase, and reaching about 91% of the level in the same month in 2019. The data is about 5% higher than market expectations.
Looking ahead to February this year, the bank expects seasonal weakness due to the Lunar New Year, believing that the off-season may last from February 3rd to February 18th, and the peak season will be in the five days after the Lunar New Year. The bank predicts that gambling revenue in February will be 20.5 billion Macau dollars, with a daily average of about 7.32 billion dollars, expecting a 4% year-on-year increase. After adjusting for the difference between this year's and last year's Lunar New Year period, the combined gambling revenue forecast for January and February is 43.1 billion Macau dollars, indicating a 13.5% year-on-year increase.
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