Citigroup has revised its forecast for Macau’s 2024 gaming prospects, predicting that the casino industry could generate MOP231.3 billion (US$29 billion) in gross gaming revenue this year.
According to its analysts, George Choi and Ryan Cheung, the upward revision to their estimate was based on January’s impressive performance of approximately MOP19.34 billion.
“Simply put, the usual pre-CNY slowdown has yet to happen,” wrote the pair. “We believe the strength is attributable to the k-pop ENHYPEN concerts held at Galaxy Arena last week, but more importantly, this data point shows that mainland Chinese visitors are still able and willing to spend in Macau.”
