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Gaming

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.

Citigroup revises down 2025 GRR forecast for Macau after slow start

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

Peru Gaming Show 2025

18 de June 2025

Facephi presented its digital identity verification solutions for the online gaming sector in Peru at PGS 2025

(Lima, SoloAzar Exclusive).- Facephi is consolidating its position as a strategic partner for responsible online gaming in Peru, presenting advanced identity verification, fraud prevention, and regulatory compliance solutions at PGS 2025, adapted to an increasingly digital and demanding ecosystem. In this interview, Bruno Rafael Rivadeneyra Sánchez, the firm's Identity Solutions Senior Manager, explores how its technology is redefining gaming security standards, with a preventative, seamless, and 100% regional approach.

Friday 18 Jul 2025 / 12:00

From PGS 2025, Win Systems Redoubles its Commitment to Peru: Innovation, Proximity, and Regional Expansion

(Lima, SoloAzar Exclusive).- In a revealing interview, Galy Olazo, Country Manager of Win Systems in Peru, analyzes the company's strategic role in one of the most thriving markets in the region. Its participation in the PGS 2025 trade show not only left its mark with its technological advances, such as the new Gold Club Colors electronic roulette wheels and the WIGOS management system, but also reaffirmed its commitment to the transformation of the sector and its consolidation in Latin America.

Tuesday 15 Jul 2025 / 12:00

Key debate during PGS 2025: Enforcement: Process to ensure compliance (laws, norms, rules)

(Lima, SoloAzar Exclusive).- During the 2025 edition of the Peru Gaming Show, the conference ‘Enforcement: Process to ensure compliance (laws, norms, rules)’ took place, with an international panel of professionals who debated about the current challenges to combat illegal gaming and guarantee the application of the laws in the sector, both in Peru and in the Latam region.

Monday 14 Jul 2025 / 12:00

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