Citi: Macau's National Day Golden Week off to a strong start, reiterates October gaming revenue forecast of MOP 25 billion

Citi released a research report stating that Macau's National Day Golden Week got off to a strong start. Citing data from the Macao Government Tourism Office (MGTO), the bank noted that total visitor arrivals to Macau in the first three days of this year's National Day Golden Week reached 540,549, up about 12% year-on-year and above MGTO's late-September forecast of 150,000 per day. Mainland visitors accounted for about 86% of total arrivals in the first three days, roughly 4 percentage points higher than in 2025; MGTO expects border traffic to peak on October 3 and 4. The bank reiterated its October 2026 gaming revenue forecast of MOP 25 billion, up 4% year-on-year, implying a conservative average daily gaming revenue of about MOP 1.05 billion during the Golden Week (5% below the level cited by industry sources for the first five days of October 2025), about MOP 900 million for the following four days (expected to be supported by the NBA China Games), and about MOP 703 million for the remaining days.