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<Research>Citi Keeps MO May GGR Forecast at MOP20B, Expects CN Addition of Cities into IVS Can Bring 1.38M Visitors This Yr
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According to industry data, Macau's GGR for the first 12 days of May is expected to reach MOP8.6 billion, implying that the average daily GGR for the past week was about MOP579 million, which is about 36% lower than the average daily GGR for the first 5 days of May, Citi Research issued a research report saying. Figures show that VIP volumes grew by about 20% MoM, while mass volumes rose by about 13-15% MoM. As a result, Citi Research kept its May GGR forecast unchanged at MOP20 billion, implying daily GGR of around MOP600 million for the rest of the month. In addition, Citi Research was also encouraged by the Chinese government's recent announcement to add 8 cities into the Individual Visit Scheme (IVS), which is estimated to bring 812,000 visitor arrivals to Macau this year. Taking into account the addition of Qingdao and Xi'an, the total of 10 new cities added to IVS will bring about 1.38 million visitors to Macau this year. AAStocks Financial News |
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