Citigroup expect 10 per cent decline in revenue in June and a five per cent fall in July
Macau’s casinos will take a hit from the World Cup, with Citigroup expecting a 10 per cent decline in revenue in June and a five per cent fall in July before a ‘swift recovery driven by a strong post-tournament event calendar.’
Citi analysts George Choi and Timothy Chau highlighted that Euro 2024 saw daily averages drop by 17 per cent lower than the average for the year.
The said: “We anticipate a swift GGR recovery immediately after the tournament, in mid-July, led by a busy calendar of star- studded concerts and events – including renowned K-pop groups Babymonster, TWS and Enhypen, Taiwanese singer Zhao Chuan, and the NBA China Games featuring the Houston Rockets and Dallas Mavericks.
“This strong non-gaming lineup should attract visitors and stimulate spending, ensuring a return to positive GGR growth for the rest of the year.”
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Citigroup expect 10 per cent decline in revenue in June and a five per cent fall in July Macau’s casinos will take a hit from the World Cup, with Citigroup expecting a 10 per cent decline in revenue in June and a five per cent fall in July before a ‘swift recovery driven by a…
The post Macau’s casinos to suffer ten per cent decline due to World Cup in June as players divert spending appeared first on G3 Newswire.