Good morning. As much as Macau may try and change its image, the gaming industry is and will continue to be the beating heart of the city. With a strong economic recovery seen last year, despite the significant shift away from VIP to a mass-centric model, the SAR is now looking at 2025 with bright eyes. Expectations are for ‘moderate growth’ this year, boosted by strong external demand. Meanwhile, in South Korea, Grand Korea Leisure saw a slight drop in its gaming revenue for January, despite delivering a healthy year-on-year increase.
What you need to know
- Macau is on a promising path to economic recovery in 2025, with “moderate growth” to be fueled by strong external demand and the gaming industry.
- Grand Korea Leisure sees a slight sequential drop in January gaming revenue, however, financials rise strongly on a yearly basis.

On the radar
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- Indonesia sees notable decline in illegal online gambling transactions in 2024.
- Emperor Entertainment boss’ son appointed as vice chair of satellite casino co.
AGB Intelligence
MACAU

Macau expected to experience a strong economic recovery in 2025
Even as Macau seeks a type of moderate economic diversification, the gaming industry will continue to be its driving force, evidenced by the strong recovery seen in 2024. This is now expected to continue into 2025, with Macau’s central banking authority indicating that ‘moderate growth’ is anticipated, based on strong external demand and a robust gaming industry.
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