Changes in Hong Kong stocks | Gaming stocks collectively declined, Citi further lowered its August gambling revenue forecast and is expected to increase by about 2% year on year

The Zhitong Finance App learned that gaming stocks have declined collectively. As of press release, Macau International Development (00200) fell 3.11% to HK$3.27; Aobo Holdings (00880) fell 1.68% to HK$1.46; and Wynn Macau (01128) fell 1.69% to HK$5.82.

According to the news, Citi's latest research report shows that according to industry data, it is estimated that Macau's gaming revenue for the first 23 days of August reached about MOP 16.65 billion. The average daily gambling revenue in the past Sunday was about MOP 714 million, slightly lower than about MOP 721 million in the week of August 10, but it is roughly the same as the average daily average of about MOP 715 million in the same period last year.

Citi said that many upcoming concerts and events in Macau can further boost the recovery of gambling revenue. Citi conservatively lowered its August gaming revenue forecast from MOP 23 billion to MOP 22.5 billion, an increase of about 2% over the previous year, which means that the average daily gambling revenue will reach about MOP 726 million for the rest of the month. Notably, this is the second time in the month that Citi has lowered its August gambling revenue forecast.