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<Research>CLSA Maintains Forecast of 10% Growth in MO Aug GGR to MOP21.8B
Recommend 31 Positive 63 Negative 20 |
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Macau's GGR recently rebounded, primarily driven by the strong RMB trend, according to CLSA's research report. Meanwhile, the broker analyzed the spread between China's PPI and PPIRM finding that it reflects the profitability of upstream enterprises. This gap has narrowed from -1.15 ppts in December 2024 to +1 ppt in June 2025. During the same period, Macau's GGR also improved from a 2% decline to a 19% growth. CLSA believed that, if property prices in China's first- and second-tier cities stabilize, it will help boost consumer confidence, leading to a new round of upward revisions in corporate earnings forecasts. Currently, the broker maintained its forecast that August GGR will grow by 10% YoY to MOP21.8 billion, equivalent to an average daily GGR of MOP703 million, in line with approx. MOP700 million in the first 10 days of August. AASTOCKS Financial News Website: www.aastocks.com |
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