Macau’s pre-Chinese New Year (CNY) slowdown has begun, according to Citibank, with gross gaming revenue for the first eight days of February forecast at MOP$5.0 billion (US$621 million), or MOP$625 million (US$77.6 million) per day – 14% lower that the daily run-rate in January. It is also 11% lower than the MOP$705 million (US$87.6 million) recorded in February 2025.
In a note, Citi’s George Choi and Timothy Chau said the moderation in GGR run rate likely reflects the expected seasonal pre-CNY slowdown in volumes.
They cited industry sources as suggesting VIP volumes since the start of the month are down by between 12% and 14% from January with mass GGR down 11% to 13%. Hold appears to be normal, they added.
