Citigroup revises down 2025 GRR forecast for Macau after slow start
Tuesday 11 de February 2025 / 12:00
2 minutos de lectura
(Macau).- Citigroup has revised down its Macau Gross Gaming Revenue (GRR) forecast for 2025, with GGR now seen growing by 3% for the full year, down from an initial prediction of 7%, including a potential 1% year-on-year decline for the six months through 30 June.
In a weekend note, Citigroup suggested that lower-than-anticipated GGR of MOP$589 million (US$73.4 million) per day in January and disappointing Chinese New Year print were due to some late Macau trip cancelations by players, which coincided with the implementation by the United States of tariffs on China from 1 February.
“These two data points turn us more cautious on near-term GGR trends,” said Citigroup’s George Choi and Timothy Chau.
“At the current run-rate, Jan-Feb combined GGR could become the [next] negative GGR data point. We believe the implementation of US tariffs against China on 1 February has dampened gaming demand towards the end of the CNY Golden Week, and we expect this impact to continue throughout most of 1H25. Coupled with the relatively high base in 1H, 1H25 Macau GGR is expected to fall 1% year-on-year.”
Citigroup does, however, expect improved market performance during the second half of the year as player sentiment starts to recover and major events return to Macau, including the Jacky Cheung concern series at Galaxy Arena in June, the summer holidays and the October Golden Week.
“Our slightly reduced 2H25 GGR forecast of MOP$119.5 billion (US$14.9 billion) implies a daily run-rate of MOP$650 million (US$81.0 million) and +6% year-on-year growth. Note that Macau will have a relatively low base in 2H,” Citigroup said, reflecting on some previous player trip cancellations in 2H24 and the December visit of China’s President Xi Jinping, which was seen as a deterrent to player visitation.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
GAT EXPO CARTAGENA 2025
28 de April 2025
Stefan Lackner Analyzes GAT Expo Cartagena 2024: Market Insights & Future Plans
(Cartagena, SoloAzar Exclusive).- In an exclusive conversation with SoloAzar, Stefan Lackner, Product & Compliance Manager at Amatic Industries, shared his experiences at GAT Expo Cartagena 2024. Lackner highlighted the strong presence of land-based gaming solutions, noting how exhibited products align with local demands.
Wednesday 07 May 2025 / 12:00
GAT Cartagena 2025: Win Systems celebrates the success of its participation
(Barcelona).- Win Systems, a leading provider of technology for the gaming and entertainment industry, is celebrating the overwhelming success of its participation at GAT Cartagena 2025, one of the most prominent events in the Latin American gaming sector
Tuesday 06 May 2025 / 12:00
26th edition of GAT Expo Cartagena closed with great success
(Cartagena de Indias).- The most important fair for the gaming, entertainment, technology and Esports industry in Latin America ended with an excellent commercial balance and testimonials of satisfaction from suppliers and operators, local and international authorities, associations and the main trade unions in the region.
Friday 02 May 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.