TLDR Citigroup lowered its Macau August GGR forecast to MOP23 billion, or $2.86 billion The new forecast implies 4% growth over August 2025, down from an earlier 6% estimate The daily GGR run rate eased slightly during the week of Aug 10 to 16 VIP gaming volume rose, but a lower hold rate softened overall revenue Concerts scheduled later in August could help support gaming activity
Citigroup has lowered its forecast for Macau’s gross gaming revenue in August. The bank now expects MOP23 billion, or $2.86 billion, for the month.
That figure is slightly higher than an earlier company estimate of MOP23.5 billion, or $2.92 billion. The change came after a slowdown during the second week of August.
The new forecast points to 4% growth compared with August 2025. Citigroup had previously projected 6% growth for the month.
Analysts George Choi and Timothy Chau based the update on gaming activity from the first 16 days of August.
Weekly Revenue Slows Slightly
Macau’s GGR reached about MOP11.65 billion, or $1.45 billion, during the first 16 days of the month. The estimate came from industry sources cited by Citigroup.
The average daily run rate was about MOP721 million, or $89.6 million, during the week of Aug 10 to 16. That was below the MOP733 million, or $91.1 million, seen during the first nine days of August.
Even with the weekly dip, the daily run rate stayed above the MOP715 million, or $88.9 million, average from August 2025. Gaming activity is still running ahead of last year’s pace.
Citigroup said VIP gaming volume rose between 12% and 15% compared with the previous month. Mass market GGR increased by about 9% to 10%.
The VIP hold rate was lower during the second week than during the first nine days of August.