Citigroup published a Research Report indicating that the total gambling revenue in Macau for the first 15 days of December is expected to reach approximately 8.6 billion Macau patacas. Last week, from December 9 to 15, the average daily gambling revenue was approximately 0.579 billion Macau patacas, an increase of about 3% compared to roughly 0.563 billion Macau patacas during the first 8 days of this month, believed to be due to an improvement in the retention rate of VIP room customers.
Due to the upcoming peak holiday season with Christmas and New Year's Eve, the Macau Tourism Board expects the average hotel occupancy rate to remain high during the holiday period, compared to about 90% last week. Citigroup noted that considering Macau will host several strong concerts in late December, a robust market performance is anticipated after December 20. The forecast for December gambling revenue remains unchanged at 18.5 billion Macau patacas, which means recovery to about 81% of the same period in 2019, implying that the average daily gambling revenue for the remaining days of this month will reach approximately 0.622 billion Macau patacas.