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<Research>Citi Cuts MO Sep GGR Forecast to MOP18.25B; Typhoon Impact Less than Forecast
Recommend 22 Positive 35 Negative 21 |
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Citi cited industry's information that Macau’s GGR for the first eight days of September may whop about MOP4.75 billion. The implied daily run-rate for the period was about MOP594 million, down about 6% from the daily run-rate of about MOP635 million for the last 13 days of August. Although Typhoon Yagi caused disruptions from Thursday to Friday last week, the impact was much less than the temporary closure of casinos during the first weekend of September last year due to Typhoon Saola, said Citi. According to industry sources, VIP volumes fell 7-10% MoM and Mass volumes faded 5-8% MoM. Reflecting the slight negative impact of the typhoon, the broker lowered its GGR forecast for the period ending September 24 from MOP18.5 billion to MOP18.25 billion, implying a daily run-rate of around MOP614 million for the rest of the month. AAStocks Financial News |
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