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GEG launches festive CNY initiatives to celebrate the Year of the Horse

AGBrief Editorial
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GEG launches festive CNY initiatives to celebrate the Year of the Horse

With the Chinese New Year approaching, Galaxy Entertainment Group (GEG) extended warm holiday wishes to community partners and team members through a variety of festive programs.

GEG Community Caring Program

Celebrating the 10th anniversary of GEG’s title-sponsored “GEG Community Caring Program”, organized by the Peng On Tung of the UGAMM, the 2025 program continued its theme of “Technology Care” and featured a “Technology Care Innovation Design Competition” that attracted nearly 120 student participants. An award ceremony was held recently, with distinguished guests including Ms. Ng Sio Lai, President of the UGAMM, and Mr. Buddy Lam, Director of Corporate Affairs of GEG.

GEG launches festive CNY initiatives to celebrate the Year of the Horse

15th GEG Youth Achievement Program

Additionally, GEG and the Macau Management Association recently co‑organized the “GEG x YAP Intangible Heritage Experience — Golden Fortunes: The Macau Debut of Zhu Bingren’s Copper Art & Copper Rubbing Workshop”, inviting YAP members to visit the exhibition and join a Chinese New Year‑themed copper rubbing workshop. Through hands‑on creation, the members experienced the charm of intangible cultural heritage, broadening their cultural horizons and further deepening their understanding of Chinese intangible cultural heritage.

GEG launches festive CNY initiatives to celebrate the Year of the Horse

Responsible Gaming CNY Roadshow

At the same time, GEG, together with the Youth Volunteers Association of Macao (“AJVM”), held the “GEG Presents: ‘Galloping into New Voices with Rational Play’ Responsible Gaming CNY Roadshow” at the back‑of‑house areas of its properties. The event integrated responsible gaming with interactive activities such as quick Q&A and New Year tongue‑twisters. Together with on‑site explanations by GEG’s Responsible Gaming Ambassadors and AJVM’s Responsible Gaming Kiosk Ambassadors and consultation services, the initiative attracted close to 4,000 team member participants, helping to deepen their understanding of the regulations on “Regulating the Conditions of Entering, Working and Gaming at Casinos”.

GEG launches festive CNY initiatives to celebrate the Year of the Horse

Great Luck in Chinese New Year

The Galaxy Entertainment Group also reinforced key responsible gaming messages during the Chinese New Year period, reminding team members and their families to maintain a rational and positive attitude towards entertainment. Additionally, GEG’s Human Resources and Administration Department also arranged a variety of “Great Luck in Chinese New Year” themed activities in the back‑of‑house areas, including spring couplets writing workshops, festive booth games, and special Chinese New Year dishes at the team member canteens, allowing team members to immerse themselves in the festive atmosphere. 

GEG launches festive CNY initiatives to celebrate the Year of the Horse

Macau CNY Parade

As an active supporter of major activities organized by the Macau SAR Government, this year GEG is once again supporting and participating in the “Parade for Celebration of the Year of the Horse” organized by the Macao Government Tourism Office (MGTO).

GEG

GEG’s float will debut on the third day and the twelfth day of the Chinese New Year. With the theme of “Golden Horse”, the GEG float will be accompanied by performances to further promote cultural exchange and deepen the cross-sector integration of “tourism +”.

Lai Chi Vun Shipyards Spring Festival Bazaar of Fortune

From February 14 to March 8, GEG will host the “GEG Presents: Lai Chi Vun Shipyards Spring Festival Bazaar of Fortune” at the Lai Chi Vun Shipyards. Highlights will include Macau’s largest display of 302 dancing lion heads, stunning attractions such as the Chinese New Year limited festive wishing trees, and a popular ice-skating rink, creating a lively Spring Festival Bazaar for local residents and tourists. 

GEG launches festive CNY initiatives to celebrate the Year of the Horse

DigiPlus tops Philippines’ Growth Champions 2026 with 199.29% CAGR

Viviana Chan
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DigiPlus tops Philippines’ Growth Champions 2026 with 199.29% CAGR

DigiPlus Interactive Corp. emerged at the top of the Philippines’ Growth Champions 2026 ranking after posting strong revenue expansion from 2021 through 2024, according to a list released by global research firm Statista in partnership with a national broadsheet.

In a Friday statement, the digital entertainment provider reported revenues of PHP2.81 billion ($48.57 million) in 2021 and PHP75.22 billion ($1.30 billion) in 2024, representing a compound annual growth rate (CAGR) of 199.29 percent over the three-year period.

The Growth Champions 2026 ranking identified 50 Philippine companies with the strongest revenue growth between 2021 and 2024.

Statista said companies were evaluated using a rigorous screening process that measured CAGR while applying minimum revenue thresholds, independence requirements, and organic growth criteria. To qualify, firms were required to generate at least PHP5 million ($86,400) in revenues in 2021 and PHP30 million ($518,700) in 2024. The minimum CAGR needed to enter the 2026 list was 5.37 percent. Executives certified the submitted figures, which were reviewed and cross-checked against public records before finalization.

DigiPlus’ top placement marks an improvement from the previous edition, when the company ranked third. The 2026 edition represents the sixth run of the Growth Champions ranking, during which Statista screened thousands of companies, examined publicly listed firms, and verified revenue data before publishing the results.

DigiPlus is known as a digital entertainment provider behind platforms such as BingoPlus, ArenaPlus, and GameZone. The company’s revenue trajectory reflects rapid expansion in the Philippines’ online gaming and digital entertainment sector over the reviewed period.

GEG
DigiPlus Chairman Eusebio H. Tanco

“Being recognized as a top Statista Growth Champion is an honor and a testament to what we have built for our players, partners, and communities—from pioneering digital entertainment in the Philippines to emerging as a market leader committed to responsible, long-term growth,” said DigiPlus Chairman Eusebio Tanco.

Tanco added that the company’s growth strategy is anchored in innovation and compliance. “Our success is anchored in the belief that innovation must be both culturally resonant and responsibly executed. We have differentiated ourselves by delivering unique, localized game experiences on secure, state-of-the-art platforms, with strong safeguards that prioritize player protection and trust,” he said. “This foundation has allowed us to help set industry standards, earn enduring loyalty, and ensure that our growth creates shared value—not just for our business, but for the communities we serve.”

DigiPlus said the recognition underscores its focus on disciplined expansion, product innovation, regulatory compliance, and player safeguards across its platforms as it continues to scale operations in the Philippine market.

SJM celebrates the Year of the Horse with the local community

AGBrief Editorial
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SJM celebrates the Year of the Horse with the local community

SJM Resorts, S.A. welcomed the Year of the Horse by deepening its community commitment, partnering with local welfare organisations throughout January and February to share festive joy through a vibrant series of celebrations.

The initiatives encompassed family-oriented activities, cultural celebrations and community outreach programs, bringing communities together while preserving cherished traditions and strengthening family bonds. 

GEG

Sharing Warmth with the Community 

From January through February, the SJM Volunteer Team rolled out its annual Lunar New Year Caring Campaign, reaching families and individuals across Macau. Volunteers visited a variety of community organisations—including the Against Child Abuse (Macau) Association Child Protection Centre, Macau Down Syndrome Association, Escola São José de Ká-Hó, Macau Special Olympics and the Macau Deaf Association—delivering gift packs and heartfelt greetings to 750 households and more than 2,000 beneficiaries.

In alignment with the Healthy Macao Blueprint, SJM also partnered with the Macao New Chinese Youth Association to host a health seminar at the Lok Yin Elderly Service Centre of the Women’s General Association of Macau. Attended by 80 seniors, the session covered nutrition, healthy eating and awareness of swallowing difficulties commonly experienced by older adults. Participants also received New Year calligraphy blessings and gift bags, rounding off a meaningful and joyful afternoon. 

Enhancing Family Cohesion through Festive Programmes 

To champion family-friendly values and a harmonious community, SJM organised a series of Lunar New Year parent-child activities. In January, 32 parents and children from the Centro de Serviços Integrados de Apoio à Família – Fonte de Alegria e de Energia, Caritas Macau visited Kam Pek Market, where they created Year of the Horse bamboo ornaments together and enjoyed afternoon tea. 

SJM celebrates the Year of the Horse with the local community
Kam Pek Market visit

In February, SJM hosted the “Joyful New Year Baking Parent‑Child Workshop” , which attracted 10 family groups of employees and their children. Through hands‑on baking, participants strengthened parent‑child bonds in a joyful setting. Later in the month, SJM also invited employees and their children, along with elderly members of the Women’s 

General Association of Macau to visit the Lisboa: The Story of Macao exhibition at the Grand Lisboa Palace Art Gallery. The guided tour was followed by a themed workshop, offering families an engaging cultural experience and opportunities to connect through shared learning. 

Celebrating Tradition and Giving Back 

To promote Chinese traditional culture, SJM held its “SJM Welcomes the New Year – Calligraphy Blessings for All” event in February, featuring renowned local calligraphers including Mr. Kuan Kun Cheong. More than 1,600 fai chuns (spring couplets) were written on site and gifted to the public, bringing blessings to the community. 

SJM celebrates the Year of the Horse with the local community

During the New Year period, SJM also invited the Sheng Kung Hui Macau Social Services Coordination Office and the Association of Parents of the People with Intellectual Disabilities of Macau to set up charity booths in staff back‑of‑house areas to display and sell handicrafts and festive products created by service users. All proceeds support the organisations’ operations and development, enabling SJM team members to contribute to the community while preparing for the New Year. 

ELA Games rolls out Tea Party of Fortune, bringing a secret‑garden adventure to players porldwide

AGBrief Editorial
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ELA Games rolls out Tea Party of Fortune, bringing a secret‑garden adventure to players porldwide

ELA Games has officially released its latest slot, Tea Party of Fortune, now available across the studio’s entire partner network.

This narrative-led title invites players into a Secret Garden where immersive mechanics meet a universally loved fairytale theme.

ELA’s newest story-based title

The studio is gaining a reputation for developing titles anchored by a set storyline, and Tea Party of Fortune stays true to that vision. Brought to life by a wonderfully eccentric cast, including the Mad Hatter and the Red Queen, the game builds a richly textured atmosphere echoing with the sounds of clinking porcelain and curious laughter.

The game perfectly illustrates ELA Games’ ability to combine top-tier art with smart game design. The base game stands out with its progression system, the Overflowing Teacup, which allows players to visualize the journey towards the bonus round with each spin.

While the aesthetic captures the charm of a classic storybook, the mechanics offer feature-dense action. The title centers on a dynamic Hold & Win Bonus Game, designed to offer more depth than standard titles in this popular category.

Within this round, special colored tea-coins trigger the cup’s magic, allowing multiple features to activate in a single spin:
  • Grid Expansion: The Curious Growth coin expands the reel set from 5×3 to 5×5.
  • Win Boosting: Mad Multipliers increase the value of existing prizes.
  • Bonus Round Extension: The Extra Respin coin prolongs the bonus round.

Game Stats:

  • Reels: 5×3 (Expands to 5×5)
  • Paylines: 10
  • RTP: 93.75% / 95.73%
  • Volatility: Mid (3/5)
  • Max Win: x5,000 (€250,000)
  • Buy Bonus: Yes

Mohegan returns to profit after South Korea exit, books $102M disposal gain

Nelson Moura
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Mohegan returns to profit after South Korea exit, books $102M disposal gain

The Mohegan Tribal Gaming Authority reported a return to profitability in the last quarter of 2026 after completing its exit from South Korea, with a $102 million gain linked to the disposal of its former Korean integrated resort operations.

For the three months ended December 31st, 2025, the US-based casino and entertainment operator posted net income of $107.7 million, compared with a net loss of $83.8 million a year earlier, when its South Korean business weighed heavily on results.

The swing was driven by the full deconsolidation of Mohegan INSPIRE, the integrated entertainment resort near Incheon International Airport that the company opened in phases beginning in late 2023.

Mohegan ceased to be an equity holder in the project on February 13th, 2025, after lenders to the resort’s parent company assumed ownership and control. The “Korean Transition” resulted in the classification of the IR-linked entities as discontinued operations.

In the latest quarter, Mohegan recorded a $102 million gain on disposal of the discontinued Korean operations. That compared with a $105.6 million loss from discontinued operations in the same period a year earlier, when Inspire was still ramping up and carrying heavy interest and operating costs.

The company also derecognized certain guarantee liabilities tied to the Korean project after Inspire completed a refinancing of its senior credit facility during the quarter. The refinancing eliminated Mohegan’s prior obligation to provide up to $100 million of credit support under support and backstop agreements related to the development.

As of December 31st, 2025, Mohegan reported a remaining $41 million liability associated with subsidiary guarantees linked to INSPIRE.

The South Korean property had generated $63.5 million in net revenues in the quarter ended December 31st, 2024, but also incurred $103.2 million in net interest expense and significant operating and depreciation costs, contributing to the prior-year loss from discontinued operations.

Following the Korea Transition, Mohegan’s results now reflect only its continuing operations, which include two owned US properties, managed operations in Canada and its digital gaming segment.

Excluding discontinued operations, net revenues from continuing operations were broadly flat year-on-year at $434.5 million in the latest quarter. Income from continuing operations was $5.7 million, down from $21.8 million a year earlier, reflecting higher interest expense following refinancing transactions completed in April 2025.

Management said the company believes existing cash balances, financing arrangements and operating cash flows will be sufficient to meet debt service, capital expenditure and working capital needs over the next 12 months, following the exit from South Korea and related balance sheet adjustments.

Wynn Macau 4Q25 results show VIP strength but lower profit margins: Jefferies

Nelson Moura
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Wynn Macau 4Q25 results show VIP strength but lower profit margins: Jefferies

Wynn Macau’s fourth-quarter 2025 results were broadly in line with expectations, with Jefferies analysts highlighting strong VIP growth but cautioning on margin pressure from weaker win rates and higher costs.

The brokerage highlighted that Wynn’s sales rose 4 percent year-on-year to $968 million, while adjusted EBITDA fell 7 percent to $271 million, with a margin of 28 percent.

Jefferies’ analysts considered that the results were in line with expectations, with ‘VIP turnover up 48 percent YoY’, but a lower-than-normal win rate negatively impacted EBITDA by $16 million.

The brokerage also pointed to weaker mass hold, down 250 basis points year-on-year, and elevated operating expenses. ‘Opex/day excluding gaming tax was (about) $2.85 million, with the increase driven by Gourmet Pavilion costs and stronger sales volumes’, analysts Anne Ling and Jingjue Pei added.

Looking ahead, Jefferies cited management’s optimism for 2026, underpinned by refreshed Wynn Tower rooms and the expansion of the Chairman’s Club at Wynn Palace, which opens today and triples in size to about 100,000 square feet.

‘January volumes were above Q4, reinforcing confidence in the outlook’, the analysts wrote, while noting planned capex of $400–450 million for concession-related projects pending government approval.

On competition, Jefferies relayed management’s view of a ‘head-to-head daily contest’ in Macau, but stressed reinvestment levels were being adjusted without a significant jump.

Oddin.gg secures its 7th North American license with Maryland expansion

AGBrief Editorial
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Oddin.gg secures its 7th North American license with Maryland expansion

Oddin.gg, the leading provider of esports betting solutions, has been granted a sports betting vendor license in Maryland, marking the company’s seventh license in North America and reinforcing its position as the premier B2B esports betting provider worldwide.

The Maryland license adds to Oddin.gg’s existing market access in Arizona, New Jersey, Colorado, West Virginia, Ohio, and Ontario, Canada, positioning Oddin.gg to serve operators in one of the East Coast’s most competitive and fastest-growing sports betting markets.

Maryland’s sports betting market has demonstrated strong performance, with bettors wagering over USD $6.6 billion in 2025. In November 2025 alone, the state set new records with USD $720.1 million in handle and USD $95.4 million in revenue. Maryland is also home to a growing esports community, including the University of Maryland’s Terps Esports program, which competes in the Big Esports Conference (BEC) alongside 17 other major U.S. universities.

Approximately 23% of US sports bettors now place wagers on esports, making it one of the fastest-growing betting categories, with North America accounting for more than 40% of global esports betting revenue in 2024.

Marek Suchar, Oddin.gg
Marek Suchar at ASEAN Gaming Summit

Marek Suchar, Co-Founder and Managing Director at Oddin.gg, said: “Maryland represents an important addition to our North American regulatory footprint. The state’s strong sports betting performance and growing esports community create an ideal environment for operators to deliver market-leading esports betting experiences. This license strengthens our ability to support partners in Maryland as esports continues to gain traction among bettors.”

Melco’s Macau operations “stable” but no expectations for increases amongst strong competition

Kelsey Wilhelm
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Melco’s Macau operations “stable” but no expectations for increases amongst strong competition

Melco says that its operations in Macau are “stable”, with no upside or downside expectations and no increased spend to improve its market share, despite increasing competition.

In its earnings call on Thursday, Melco Resorts & Entertainment President Evan Andrew Winkler noted that “From where we are sitting coming out of Q4 and into this quarter, we are not seeing a ratchet up in terms of levels of spend directly on gaming programs from where we are now”.

The executive furthered that competition remains intense, noting “based on what we are seeing now, I think we are stable. I do not see anything that will bring us down in the near term, but I also do not see anything that will ratchet it up”.

Melco Chairman Lawrence Ho highlighted that the current level of competition is expected for the rest of the year, but that the company is “comfortable with our margin”.

City of Dreams

During the fourth quarter, Melco saw operating income at its City of Dreams property increase to $150.88 million, from $88.53 million in 4Q24, boosting adjusted property EBITDA to $193.71 million (from $140.08 million in 4Q24).

Total gross gaming revenue at the property rose by 14 percent yearly to $764 million, with mass GGR up 10 percent to $539 million.

VIP GGR was up by an impressive 36 percent to $200 million, while slot GGR fell 22 percent to $25 million.

VIP rolling chip rose by just 1 percent yearly, to $6.28 billion, with an 83 basis point increase in the win rate, to 3.18 percent. Mass table drop was up by 14 percent yearly to $1.74 billion, with mass table hold down 107 basis points to 31 percent.

At City of Dreams, the group is planning to “progressively start opening” its renovated Countdown Hotel this year. The group is also undergoing a “revamp of the retail area” at COD and pans to upgrade its F&B offerings.

City of Dreams Macau debuts the stunning New 'House of Dancing Water'

Looking at its main entertainment attraction House of Dancing Water, the offering has caused “meaningful uptick in property visitation”, notes the Chairman. “We are seeing meaningfully good spend across non-gaming during and after the show. And even on our mass drop, from pre-May to post-May, we have seen a decent uptick,” highlighted Ho.

Winkler added that, for  visitors coming from outside the property to see the show “a very small percentage go from that directly to gaming”. However, the executive says that “The benefit we have is it does introduce thousands of more people with each show to the property and to COD, to our product, to food and beverage.”

Studio City

Studio City Macau, Aristocrat Gaming

Melco’s other Cotai Strip property, Studio City saw a positive increase in operating income during the quarter, rising from $23.02 million in 4Q24 to $29.56 million in 4Q25. This helped boost adjusted property EBITDA to $86.59million (from $81.24 million in the same quarter of 2024).

Total GGR was up 7 percent yearly in the quarter, to $343 million, with mass contributing $314 million, up by 10 percent yearly. Mass table drop rose by 4 percent to $932 million, while the table hold increased by 159 basis points to 33.7 percent.

Slots GGR fell slightly by 3 percent yearly to $28 million during the quarter.

The group doesn’t operate any VIP gaming at the property, with total GGR derived from mass and slots play.

Other Macau operations

Mocha Clubs, Melco Resorts-Macau

Melco’s other Macau operations slid to a loss in 4Q25, with Altira Macau (located in Taipa) seeing an operating loss of nearly $6.3 million, a significant increase from the $2.5 million registered in 4Q24. Adjusted property EBITDA was negative, at nearly $3.5 million compared to negative $251,000 in 4Q24.

Total GGR at the property ffell by 9 percent yearly to $29 million, with a significant drop in mass GGR of 16 percent, to $24 million despite a 22 percent increase in mass table drop to $153 million. Mass table hold fell by 714 basis point to 15.6 percent. Slots GGR increased by 46 percent during the quarter, to $5 million.

The group closed its satellite casino operation at Grand Dragon Casino in September of 2025 and ceased operations at its Mocha Grand Dragon and Mocha Hotel Royal venue in the fourth quarter.

A total of 15 gaming tables were reallocated from Grand Dragon Casino to Studio City and 90 gaming tables were shifted to Studio City. Some 108 gaming machines from its closed Mocha venues were relocated to Studio City, with 137 going to City of Dreams and 100 shifted to Altira Macau.

The group now operates three Mocha Clubs – Inner Harbor, Golden Dragon and Sintra Hotel.

For the fourth quarter, the group’s Mocha segment generated $20 million in operating revenues, down from $29.3 million in 4Q24. Adjusted EBITDA was $4.4 million, down from $5.7 million in the same quarter of 2024. The gaming machine handle also dropped from $516.7 million in 4Q24 to $471.4 million, with a slightly increased win rate of 4.3 percent (compared to 4.1 percent in 4Q24).

Melco shelves plans to divest interest in City of Dreams Manila

Kelsey Wilhelm
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Melco shelves plans to divest interest in City of Dreams Manila

Melco has decided to shelve plans to sell off its interest in City of Dreams Manila, after concluding its “evaluation of strategic alternatives”.

According to Melco Chairman Lawrence Ho, “we did not feel that any of those options would allow the value and potential of the property to be fully realized. We are confident that business will rebound and we may reevaluate the situation in the future”.

In February of last year, Melco had announced that it was evaluating such “strategic alternatives’. The landlord of the City of Dreams property, Philippine-listed Belle Corporation quickly clarified that it did not plan to buy out Melco’s interests in the property and was instead looking to invest in Clark.

Results fail to impress

For the fourth quarter of 2025, Melco indicated that its City of Dreams’ operating income was down significantly year-on-year to $17.82 million, compared to $34.09 million 4Q24. Adjusted property EBITDA also fell from $56.79 million to $33.05 million in 4Q25. Melco’s share of this was $18 million.

The group operates 265 tables and 2,264 gaming machines at City of Dreams Manila.

During the quarter, the group saw VIP and mass play drop, with total gross gaming revenue down by 26 percent to $110 million.

VIP GGR fell by 40 percent yearly to $21 million, while mass dropped by 28 percent to $42 million. Slots GGR also contracted by 17 percent, to $47 million. VIP rolling chip at the property was down 39 percent yearly to $469 million, with the win rate down 4 basis points to 4.47 percent. Mass rolling chip was down 23 percent to $129 million, with the mass table hold falling 181 basis points yearly to 32.4 percent.

Melco’s Chairman noted that “competitive pressures and industry headwinds continued to impact our performance in 2025,” but highlighted that the group is “encouraged by the positive developments in that market, including visa-free travel for Chinese nationals, upgrades to the Manila Airport to facilitate increasing international tourism, and rationalization of the online gaming market”.

Melco execs indicated that the company plans opex of $40 million for City of Dreams Manila this year.

Daily Asia Gaming eBrief: Wynn Macau results below expectations on low win rates

AGBrief Editorial
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Daily Asia Gaming eBrief: Wynn Macau results below expectations on low win rates
Good Morning. The Wynn-ing strategy. Wynn Resorts’ VIP-centric focus in Macau is paying off, with strong increases in high-worth play helping boost results. But low win rates across both VIP and mass cut into its expected gains for the fourth quarter. The opening of its revamped Chairman’s Club is expected to offset this in 1Q26, with strong demand for the Chinese New Year. Meanwhile, its portfolio diversification is expected to drive further growth, as Wynn Al Marjan Island could see rooms go on sale as early as 3Q26. Meanwhile, Melco saw its 4Q25 results boosted by Macau play, with net income significantly up to $185 million amongst improved margins across its properties. Also, casino moguls again ranked on the Forbes rich list for Hong Kong, with Galaxy’s Francis Lui taking 9th place.

What you need to know

On the radar

AGB Intelligence

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Wynn Macau releases 2024 Sustainability Report, marking key environmental milestones, Wynn Resorts Macau

Wynn’s Macau results below expectations on low win rates

Wynn highlighted the breadth of its portfolio in its 4Q25 results release, showcasing how its diversification helps offset any low points from one particular market. Such a low point was seen in Macau, as win rates came in below expectations, despite strong VIP play in the SAR. This VIP boost should continue, as it opens its revamped Chairman’s Club just in time for the Chinese New Year. Looking to the UAE, Wynn Al Marjan Island is already seeing significant interest from high-value players, with rooms potentially going on sale by late 3Q26.

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