Gaming | Citigroup cuts September GGR forecast

In its report, Citigroup said that after surveying 13 casinos in the territory, it now estimates that the average minimum bet (AMB) in the mass market was down 6 percent in September when compared to August, retreating to the level before summer.  Comparing the weekend room rates in 16 hotels, the same company noted a drop of 10 percent on average followed by a fall also in weekday rates of about 3 percent.
Based on the survey, the broker lowered its September GGR forecast for the region from MOP18 billion to MOP17.5 billion, or 2 percent year-on-year.
The same report states that Galaxy Entertainment Group performed best among the operators, with the AMB in September rising 15 percent monthly and premium mass performance showing some improvement.  The AMB in both Wynn Macau and Wynn Palace was down 19 percent monthly. AMB in Sands China Ltd and in Melco Crown Group registered declines of 7 percent and 21 percent in the same period respectively.