Citigroup: Concert activities help mitigate the decline in gambling revenue Maintaining June forecast of MOP 19 billion

Citibank released a research report stating that according to industry data, the total gambling revenue in Macau for the first fourteen days of June is estimated to have reached around 9 billion Macau patacas. The daily revenue is about 586 million Macau patacas, a decrease of approximately 20% compared to the daily average of about 729 million Macau patacas in May this year, and a decrease of about 16% compared to the daily average of about 700 million Macau patacas in the first week of June, which is believed to be due to the start of the World Cup tournament. The report cited industry sources as saying that the VIP room betting volume during the period dropped by about 15% to 18% compared to the previous month, and the mid-casino revenue dropped by about 10% to 13%. Citibank stated that looking ahead, events such as concerts at the Galaxy and Londoner hotels may help alleviate potential declines in gambling revenue. The bank currently maintains its forecast for June gambling revenue at 19 billion Macau patacas, a decrease of 10% year-on-year, which means that the daily gambling revenue for the remaining days of this month is about 625 million Macau patacas.