【Macau Gambling Stocks】World Cup 2026 diversion effect? Macau’s June gambling revenue fell 12% year-on-year to 18.5 billion.

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The Macau Gaming Inspection and Coordination Bureau announced that gaming revenue in June was 18.52 billion Macau patacas, down 12% year-on-year and 18% month-on-month. In the first six months of this year, gaming revenue totaled 126.9 billion Macau patacas, up 7% year-on-year.

June gaming revenue data fell short of Citigroup's expectations

The significant month-on-month and year-on-year decline in June's gaming revenue is not unrelated to the 2026 World Cup. Citigroup earlier released a report predicting that due to the top-tier football event held from June 11 to July 19 (North American time), Macau's gross gaming revenue (GGR) in June this year would decrease by 10% year-on-year, and by 5% in July, with recovery expected only after the event concludes.

The Citigroup report pointed out that historical analysis shows large-scale football events divert the gaming budgets of Macau players, and the expanded format of this year's event, which includes more matches (adding 16 participating teams and a new round of 32 in the knockout stage), may cause a more severe impact.

Citigroup predicts that despite the short-term slowdown, it remains bullish on the Macau market and recommends buying on dips during potential short-term stock price weakness, favoring its top picks Galaxy Entertainment (00027) and Sands China (01928).

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