Macau’s casino gross gaming revenue (GGR) for the first 23 days of March was estimated at MOP14.6 billion (US$1.82 billion), or a daily run rate of MOP635 million, stated a Monday memo from banking institution Citigroup.
“Based on industry sources, Macau GGR for the first 23 days of March likely reached circa MOP14.6 billion,” wrote analysts George Choi and Timothy Chau.
“This would imply a daily run rate of about MOP643 million during the week of March 17 to 23, 3-percent higher than that of the previous week, at MOP621 million a day,” they added.
Citing industry sources, the Citi analysts said VIP volumes “fell circa 8 to 10 percent month-on-month and mass GGR fell circa 7 to 9 percent month-on-month”.
They stated: “VIP hold rate appears to be higher than that of the previous week.”
According to the institution, the daily GGR run rate in the first 23 days of March, at MOP635 million, “is largely flat year-on-year versus the full month of March 2024, at MOP629 million”.
Citi said it kept its March 2025 GGR forecast “unchanged” at MOP19.5 billion, “conservatively implying GGR to average MOP613 million a day for the rest of the month”.
