Macau March GGR forecasts cut

    Analysts have cut back their forecasts for Macau’s gross gaming revenue based on the first 23 days of the month. Analysts at Citi said Macau’s widely watched gross gaming revenue for the first 23 days in March reached MOP24.7 billion ($3.1billion), translating into MOP1,065 million per day, which is lower than the 2014 average of MOP1,127 million per day. Sterne Agee said the March results to date are about 9 percent below February’s record rate. It said it’s reducing its forecast for growth of between 10 and 13 percent from 14 to 17 percent previously.