Lyon: Forecast maintains Macau's August gambling revenue at 21.8 billion Macau patacas.

Lyon released a research report stating that Macau gaming revenue has recently rebounded, believed to be mainly driven by the strong trend of the renminbi. At the same time, the report analyzed the difference between China's PPI and PPIRM, finding that it can reflect the profitability of upstream enterprises. The difference has narrowed from a negative 1.15 percentage points in December 2024 to a positive 1 percentage point in June 2025, while during the same period, Macau gaming revenue has improved from a 2% decline to a 19% growth. The bank believes that if property prices in first and second-tier cities in China can stabilize, it will help boost consumer confidence and drive a new round of upward revisions in corporate profit forecasts. Currently, it still maintains the forecast that gaming revenue in August will increase by 10% year-on-year to 21.8 billion Macau patacas, equivalent to a daily gaming revenue of 703 million Macau patacas, consistent with about 700 million Macau patacas in the first ten days of August.