Good morning. Money always appears to be worth a little bit less every day. However, in the case of China, this is a real concern, as the depreciation of its currency has multiple ripple effects. For Macau, wholly dependent on its main consumer source, this has a particular impact on tourism and retail spending, pressuring gaming operators. However, predictions are still strong for GGR in the gaming hub in 2025, with Seaport estimating an 8 percent yearly uptick. Meanwhile, in Thailand, the government is pushing forward discussions around legalizing online gambling, dialing in on potential tax revenue.
What you need to know
- The renminbi’s sharp depreciation has made Macau more expensive for mainland Chinese tourists, impacting retail and tourism spending.
- Seaport expects Macau to report a GGR growth rate of 8 percent in 2025, supported by improving economic conditions in China.
- The Thai government says that it is starting discussions around the possible legalization of online gambling.
On the radar
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- IPI sets $10M minimum bid for asset sale, seeks court approval.
- Record $17.7 million Mark Six jackpot in Hong Kong split by two winners.
- Nearly 60 workers fight their way out of sanctioned Cambodian casino.
- Most content removal requests target online gambling: Malaysia comms.
- Clark Int’l Airport welcomed 2.4M passengers in 2024, mostly international.
- Bet365 still awaiting results of AUSTRAC investigation, financial results up.
AGB Intelligence
MACAU
Macau getting too expensive for Chinese tourists
Macau’s over-reliance on Chinese consumption is coming even more to the forefront as China’s currency, the renminbi, is suffering sharp depreciation. Weakened consumer sentiment had already affected the amount punters were willing to place on the table. But now this has expanded into non-gaming spending on tourism and retail. Meanwhile, operators still have hefty obligations to the government, and must walk a tightrope to keep their financials afloat.
Industry Updates
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