Macau's gambling revenue continued its growth momentum since the Spring Festival in March. A Citibank report indicated that the gross gambling revenue for the first 8 days was estimated at 5.65 billion Macau patacas, with a daily average of about 706 million Macau patacas, an 11% increase year-over-year. Analysts believe that a strong entertainment schedule—concerts by Korean boy band Treasure, singer Wang Sulong, and girl group Aespa—may have injected additional vitality into the market. Simply put, the concerts brought in crowds, and the crowds boosted the casinos.
Citibank maintains a 14% monthly growth forecast, with minor adjustments to VIP and mass market
Citibank analysts, based on industry data, noted that compared to the previous month, VIP betting volumes slightly decreased by 2% to 4%, and the mass market GGR also fell by about 3% to 5%, although the VIP win rate was slightly higher than normal. Based on the robust performance of the first 8 days, Citibank conservatively maintains its March total GGR forecast at 22.5 billion Macau patacas, a 14% increase from the same period last year, meaning the daily revenue for the remaining days needs to reach about 733 million Macau patacas. Want to know the latest trends in the Macau gambling market? PASA official website continues to track.
Other investment banks: Generally optimistic about growth exceeding 10%
J.P. Morgan previously predicted that achieving a daily revenue of 700 million Macau patacas in March could lead to an increase of over 10%, thus driving the overall growth for the first quarter to reach 13% to 14%. Seaport Research Partners forecasted a 12.5% increase in March GGR, although the daily revenue slightly decreased compared to January and February, they expect a 13.4% increase in GGR for the first quarter, with a slowdown to mid-single digits in the second quarter.
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This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
