Citi cuts October GGR forecast to MOP19.25 billion

Citigroup slightly downgraded the city’s October gross gaming revenue (GGR) to MOP19.25 billion from MOP19.5 billion. The figure is equivalent to 73% of the October 2019 level. According to City, Macau’s GGR reached approximately MOP14.6 billion in the first 23 days of October. The daily run-rate for the past eight days was roughly MOP575 million, which was up by about 20% compared to that of the previous week. Investment bank JP Morgan has said earlier this week that the casino sector is slated to hit another post-pandemic high this month, buoyed by China’s eight-day holiday.