Citi expects Macau's gaming revenue to reach 22.5 billion yuan in March, up 14% year-on-year

Citigroup's research report pointed out that Macau's total gaming revenue in February reached MOP 20.627 billion, averaging about MOP 737 million per day, an increase of 4.5% year-on-year, which is about 6% higher than Citigroup's forecast of MOP 19.5 billion, likely reflecting stronger demand in the latter part of the Lunar New Year compared to usual. Additionally, the two concerts held by Wang Sulong at Galaxy Macau at the end of last month may have contributed to the performance.

Citigroup noted that excluding different factors during the Lunar New Year period this year and last year, the total gaming revenue for the first two months of this year was MOP 43.3 billion, a year-on-year increase of 14%. Looking ahead to March, gaming revenue is expected to reach MOP 22.5 billion, a year-on-year increase of 14%, which means an average daily gaming revenue of about MOP 726 million, similar to January's average of MOP 730 million.

In addition, Macau will host a series of major events in March, including Wang Sulong's final concert and aespa's concert at Galaxy Macau, as well as performances by NCT Wish and ATEEZ at the Venetian Macao, which are expected to boost the growth momentum of gaming revenue