Post by Blitz on Mar 27, 2024 5:33:38 GMT -5
CASINOS EXPECTED TO CLOSE MARCH WITH RECEIPTS OF MOP19 BILLION
- WEDNESDAY, MARCH 27, 2024 - 10 HOURS AGO NO COMMENTS 668 VIEWS
macaudailytimes.com.mo/casinos-expected-to-close-march-with-receipts-of-mop19-billion.html
Local casinos are anticipated to close this month with earnings ranging between MOP19 to 19.5 billion, Citigroup and JP Morgan said in separate statements.
According to the two financial companies, during the first three weeks of this month (until Mar. 24), the local casinos earned some MOP14.9 billion. They foresee the month closing with earnings ranging between MOP19 to MOP19.5 billion, with JP Morgan and Citi providing the respective forecasts.
These projected numbers are in line with both companies’ expectations, with March anticipated to be stable.
According to Citi, the average daily gaming revenue for the past week was MOP629 million, unchanged from the previous week.
The bank also noted that local authorities anticipate over 100,000 tourists will visit Macau during the upcoming Easter and Qingming Festival season.
While adopting a conservative approach, Citi maintained its revenue forecast of MOP19.5 billion for the entire month, suggesting that with the approaching Easter holiday, daily revenues may rise to a daily average of around MOP657 million.
- WEDNESDAY, MARCH 27, 2024 - 10 HOURS AGO NO COMMENTS 668 VIEWS
macaudailytimes.com.mo/casinos-expected-to-close-march-with-receipts-of-mop19-billion.html
Local casinos are anticipated to close this month with earnings ranging between MOP19 to 19.5 billion, Citigroup and JP Morgan said in separate statements.
According to the two financial companies, during the first three weeks of this month (until Mar. 24), the local casinos earned some MOP14.9 billion. They foresee the month closing with earnings ranging between MOP19 to MOP19.5 billion, with JP Morgan and Citi providing the respective forecasts.
These projected numbers are in line with both companies’ expectations, with March anticipated to be stable.
According to Citi, the average daily gaming revenue for the past week was MOP629 million, unchanged from the previous week.
The bank also noted that local authorities anticipate over 100,000 tourists will visit Macau during the upcoming Easter and Qingming Festival season.
While adopting a conservative approach, Citi maintained its revenue forecast of MOP19.5 billion for the entire month, suggesting that with the approaching Easter holiday, daily revenues may rise to a daily average of around MOP657 million.