Good Morning. Build it and they will come. And they’ve been coming in droves. Macau has long struggled with its tourism carrying capacity, but it doesn’t appear keen to slow down visitation any time soon, being on track for nearly 39 million tourists this year and up to 46 million by 2030. Meanwhile, analysts note that money flow is the best thing driving GGR growth this year, with an expected acceleration in the fourth quarter. Looking at Cambodia, NagaCorp has seen an impressive first three quarters, with a solid uptick in premium play boosting earnings.
What you need to know
- Macau authorities predict tourist numbers will rise to 38.95M in 2025 and could reach between 39.5 million and 46.4 million by 2030.
- Premium VIP volumes jump 77.7% to $4.69B, powering NagaCorp’s nine-month GGR to $532M with broad-based gaming growth.
- Seaport Research says easing money flow is the strongest driver of Macau’s 2025 GGR growth, with Q4 leading momentum.
On the radar
- Macau Legend mulls early exit from SJM service pact.
- Macau September GGR totals $2.27B, up 6% yearly.
- East Timor gov’t revokes online gambling licenses, citing security concerns.
- Jeju Dream Tower’s September casino revenue nearly doubles year-on-year.
- Macau hotels host nearly 1M mainland guests in record August.
- New luxury hotel The Laurus opens at Resorts World Sentosa.
AGB Intelligence
MACAU
Authorities target over 46M tourists by 2030
Macau’s tourism carrying capacity is going to need to be strongly improved to meet the expectations that authorities have for visitation expansion leading up to 2030. The latest government estimates pinpoint over 46 million visitors by the end of this decade, as expectations are for nearly 39 million tourists this year. Hotel supply expansion and ongoing visa relaxation measures are expected to help push the dial, with hopes for diversification beyond the core market.
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INTELLIGENCE | ASEAN | CAREERS
