Citi maintains MOP16b GGR forecast for November

Macau’s gross gaming revenue (GGR) for the first 19 days of November was MOP10 billion, a decrease of 11% compared to the previous week, according to a Citi Research report, citing industry sources. The figure implies a daily run-rate of MOP486 million last week, as some big players avoided going to Macau during the Grand Prix weekend. Hotel occupancy approximated 90% on race weekends. With such a figure, the institution maintains its forecast of MOP16 billion GGR for the city’s gaming sector in November -a figure equivalent to 70% of the same period in 2019.