Macau casino resorts’ event lineup to drive casino revenue in Q4
Thursday 28 de September 2023 / 12:00
⏱ 1 min read
(Macau).- Macau’s gaming industry is poised for a significant boost in the fourth quarter of 2023, thanks to a planned “star-studded” lineup of events, according to Citigroup.
Considering the city’s “unprecedented event calendar,” analysts George Choi and Ryan Cheung have raised their gross gaming revenue forecast for the last quarter of 2023 from MOP51 billion (US$6.31 billion) to MOP52.5 billion, implying a quarter-on-quarter increase of 7.4 per cent.
Citigroup highlights that during the National Day Golden Week alone, eight events, including Cantopop concerts and a poolside dance party, will take place.
The analysts point out that the eight-day festive period is likely to make October a standout month, with the highest monthly GGR forecast at MOP19 billion.
Between October 1 and 6, each day could see an average of MOP765 million in casino revenue.
The average daily casino revenue for the remainder of October is projected to be MOP575 million, reflecting a 25 percent moderation in the run-rate compared to the Golden Week.
The analysts note that this moderation suggests a less severe “post Golden Week hangover.”
In 2019, the average daily casino revenue for the remainder of October after the National Day period stood at MOP764 million – 34 percent lower than that of the Golden Week.
Looking ahead, the analysts express a positive outlook for the remainder of 2023, suggesting that casino revenue could potentially reach MOP181.5 billion for the whole year – or 62 percent of the 2019 level.
The estimate was made after they revised their forecasts for November and December to MOP16 billion and MOP17.5 billion, respectively.
Categoría:Casino
Tags: Sin tags
País: Macao
Región: Asia
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