Lates News

Citibank released a research report stating that Macau's gaming revenue (GGR) in July reached 22.125 billion Macau patacas, an increase of 19% year-on-year, with an average of about 7.14 billion Macau patacas per day, reaching 90% of the level of the same period in 2019. This exceeded Citibank's and market expectations of 21 billion Macau patacas by 5%, marking the fourth consecutive month of exceeding expectations. More importantly, gaming revenue has achieved an almost 20% year-on-year growth for two consecutive months, reflecting the industry's strong resilience. Looking ahead, singer Eason Chan will hold a concert at the Galaxy Entertainment Complex in August. Taking into account the positive impact brought by Jacky Cheung's concerts in June and July, Citibank has adjusted its August Macau gaming revenue forecast from 20 billion Macau patacas to 21.5 billion Macau patacas, representing a 9% year-on-year increase with a daily average of 6.94 billion Macau patacas. This forecast considers the possibility of lower per capita spending among tourists during the traditional peak tourism season and the higher base from the same period last year.