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RTNominal down5.510 -0.180 (-3.163%)

17/02/2021 17:33

{I-bank focus}Citi keeps Macau Feb GGR forecast at MOP7.5bn

[ET Net News Agency, 17 February 2021] Citi Research cited its Macau gaming industry
sources saying that GGR (gross gaming revenues) for the first 15 days of February is
likely to have reached MOP3bn. The implied daily run-rate for the previous eight days was
MOP188m, lower than that of the first seven days at MOP215m/day.
The research house noted that the previous eight-day period includes the Chinese New
Year's Eve and the first two days of the CNY, which traditionally are the slowest days in
the calendar.
Citi believes the slow start should not surprise the market and it believes the street
is already pricing in a not-so-golden Golden Week. It added that VIP and Mass volumes were
down 5-8% and 12-13% MoM respectively. For now, Citi kept its February GGR forecast
unchanged at MOP7.5bn (30% of 2019 level). (KL)

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