Macau’s gaming revenues in the first 20 days of July are forecast to hit Mop13.6 billion, according to a report released by Citibank. The financial firm maintains its forecast of MOP21 billion for Macau’s July gaming revenues.
The forecast figure translates to an average daily revenue of about MOP 657 million from July 14 to 20, which is a 3% decrease from the previous week’s average of 679 million MOP, but still about 10% higher than the average level in July of last year.
Citibank noted that the impact of Typhoon “Wipha” may have led to some cancellations over the weekend, but the weekly slowdown was less than expected. It was reported that VIP room betting volumes declined by about 3% to 5% month-on-month, while mass gaming revenue also fell by approximately 2% to 4%. However, the win rate in VIP rooms appeared to be higher than the previous week.
Citibank maintains its forecast for July’s total gaming revenue at MOP 21 billion, which is about 86% of the level seen in July 2019 before the pandemic, reflecting a year-on-year growth of 13%. The report also mentioned that concerts already held this month are expected to support the average daily gaming revenue for the remaining days of the month to maintain around 668 million MOP.
