Good Morning. Results don’t lie. And what is being evidenced in Macau is little more than a resurgence. The third quarter is defying the odds, as operators are finding exactly what their key markets are and targeting them. Galaxy and Melco both pushed Macau’s casino success to a new degree, while further abroad, plans are afoot. Looking at Light & Wonder, there was little surprise that the company would smash into new profit, while Genting Singapore also saw a solid rise in earnings. Things are looking up, as they should.
What you need to know
- Galaxy sees strong gains in the third quarter of this year, despite the intensity of the weather; and now there’s a positive outlook for more growth.
- Melco Resorts’ third-quarter profit surged as gaming and non-gaming revenue grow across its Asian and European operations.
- Light & Wonder sees 78% rise in net income for 3Q25, with strong Gaming segment results pushing forward other pillars.
- Genting Singapore reported a solid rise in third-quarter earnings, buoyed by stronger VIP gaming activity and robust growth in non-gaming revenue.
On the radar
- Kevin Mullally steps down as CEO of the UAE’s gaming regulator.
- Wynn Macau revenue up in 3Q25, boosted by strong demand.
- Digiplus profit drops 59% in 3Q25 amid tighter online gambling rules.
- AGEM Index increased by just 0.6% m-o-m in October.
- Macau expects up to 39 million visitors in 2025, MGTO says.
- Typhoon Ragasa costs Galaxy $18M in 3Q25, premium play shining in 4Q25.
AGB Intelligence
MACAU
Galaxy sees strong gains in 3Q25, looks for more growth
Size apparently does matter, at least in the Macau gaming space. And Galaxy is marking its territory very clearly, with strong ventures into entertainment-based investment and the push to find the new normal for Macau. This might appear to be paying off, with new results highlighting the reflection of visitation on gambling revenue. What comes next is anyone’s guess.
Corporate Spotlight
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