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<Research>Citi Cuts MO Apr GGR Forecast to MOP18B
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According to industry data, Macau's GGR for the first 21 days of April may reach about MOP12.5 billion, implying that the average daily run-rate for the past week was MOP600 million, which is about 2% higher WoW, Citi Research noted in a report. The figures revealed that VIP betting volumes fell by about 5-6% MoM, while mass-market volumes dropped by 4-5%. VIP hold rates appear to be lower than normal. The broker therefore lowered its forecast for April GGR from MOP18.5 billion to MOP18 billion, implying that the daily run-rate for the rest of the month will be more or less flat. Citi mentioned the Macau Government Tourist Office (MGTO)'s prediction that during the Labour Day holiday, average daily visitor arrivals to Macau are expected to reach about 130,000, and the hotel occupancy rate is forecasted to be about 90%. AAStocks Financial News |
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