Good morning. Macau is powering through 2026, with March GGR beating analyst expectations, rising to $2.8 billion, up by 15 percent yearly. Solid demand has persisted despite geopolitical tensions, boosted by gaming luck. Estimates now are for a 12 percent uptick in April, with comparisons becoming more difficult in the second half of the year. Easy liquidity will remain a key factor, with operators seeking to improve overnight base mass, as player reinvestment bites. Looking to the Philippines, online gaming operators saw a two-month deferment on their Minimum Guaranteed Fee obligation, helping soften the blow from rising prices due to the conflict in the Middle East.
Happy Easter! In observance of the Easter and Cheng Ming holidays, Asia Gaming Brief will resume normal publishing on Wednesday, April 8th.
What you need to know
- MGM China and Melco biggest share gainers on ‘better than expected’ Macau March GGR, says Seaport Research Partners.
- Macau March GGR beat forecasts by 4–5% on higher win rates, analysts note resilient demand despite geopolitical uncertainties.
- PAGCOR defers Minimum Guaranteed Fee for online gaming operators until June 1st, due to ‘the current economic crisis’.
On the radar
- Former police commissioner new Chairman of Singapore’s GRA.
- Jeju Dream Tower posts 40.3% surge in 1Q26 casino sales.
- Macau March GGR totals $2.8B, up 15% year-on-year.
- Cambodia deports alleged scam kingpin Li Xiong to China.
- Far East Consortium sells 49% stake in Ritz-Carlton Melbourne.
- The Star appoints compliance expert as new non-executive director.
AGB Intelligence
MACAU
March GGR ‘better than expected’, at $2.8B
Macau’s March GGR beat expectations, ringing in at MOP22.61 billion ($2.8 billion), up by 15 percent yearly, nearly 5 percent above some analysts’ estimates. MGM China and Melco were seen as the largest share gainers, according to Seaport Research Partners, while Sands and Galaxy saw share drops. Expectations are for April to see a 12 percent uptick in GGR, with comps becoming ‘more difficult’ in 2H26. Hopes remain on more easy liquidity and a boost in overnight base mass, to continue the momentum.
Industry Updates
- IBIA rolls out industry playbook targeting illegal betting risks in Brazil.
- WinSpirit & Digital Wellness Center unite to put players’ well‑being first.
- GR8 Tech and José Mourinho sign partnership for the Champions Club.
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