Macau GGR Slows After Typhoon, Golden Week: Citi

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The Macau Casino Gross Gaming Revenue (GGR) volume in the second week of October appears to be "significantly" down from the first eight days of the month, according to a note from Citigroup on Monday. 온라인카지노
"Macao GGR for the first 15 days of October likely reached about 10 billion MOPs ($1.24 billion)," analysts George Choi and Ryan Cheung said, citing the information as industry sources.
They added that the implied daily GGR execution rate last week was MOP479 million, "about 42%" lower than the managed daily MOP831 million in the first eight days of October.
The slowdown reflected the impact of Typhoon Koinu's inbound tourism in Macau following the suspension of public transport until late morning on Sunday afternoon, Oct. 8, and Monday, Oct. 9, as Typhoon No. 8 signal was raised.
Analysts said Monday's trading volume was "extremely low."
Citigroup also observed that "there has been a seasonal slowdown since the Golden Week of National Day." The last day of the eight-day holiday in mainland China this year was Oct. 6.
"We expect to see a gradual increase in traffic, as popular cantop singer Eason Chan will perform six remaining shows over the last two weekends of the month," said Choi and Chung.
Citigroup has chosen to stick to its previous forecast for October GGR, meaning that the average daily GGR for the rest of the month is 594 million MOP, at 19.5 billion MOP, or about 74% of October 2019 levels.