According to industry data, Macau's GGR for the first 11 days of May may have reached around MOP8.55 billion, meaning that the average daily GGR from May 6 to 11 may hit MOP575 million, a 44% drop compared to the daily average of around MOP1.02 billion during the five-day Labor Day holidays, Citi wrote in its research report. The broker considered this as a typical post-holiday hangover similar to that in the same period last year.

During this period, VIP volumes grew by about 21-24% MoM, while Mass GGR increased by about 22-24%. Anticipating that a series of events such as concerts will be held in Macau for the rest of May, Citi kept its forecast for the city's GGR in May unchanged at MOP21 billion, about 81% of the level seen in the same period in 2019, up 4% YoY, implying that the average daily GGR for the remainder of the month will be around MOP623 million.

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