Good morning. As the US presidential inauguration looms, analysts are wary as to whether Macau operators will face a similar situation as the last time China-US tensions hit an all-time high. But given the drastic shift in the make-up of Macau’s clientele, with the evisceration of the VIP market, concerns have been slightly alleviated, and expectations are for a continuation of growth seen in 2024. Meanwhile, in the Philippines, analysts at Maybank have cut forecasts for Bloomberry’s 2025 revenue, as competition increases and gaming results fail to excite.
What you need to know
- Deutsche Bank analysts positive on the Macau gaming market in 2025, despite fears of renewed US-China tensions under Trump administration.
- Bloomberry Resorts 2025 revenue outlook slashed by Maybank due to weak gaming performance and increased competition.
On the radar
- Macau gaming watchdog names Lio Chi Chong as Acting Director.
- The Star exploring ‘liquidity solutions’ as available cash plummets further.
- Indian Supreme Court to hear online gaming GST dispute on January 10th.
- Cambodia sees 85 percent leap in gaming tax revenue in 2024.
- Resorts World Sentosa appoints Brian Ho as new VP of sustainability.
- Senator calls for ongoing action against remaining POGO operations.
AGB Intelligence
MACAU
US-China relations to have little impact on Macau
While many lauded the election of Donald Trump to a second term as US President, and the subsequent stock rally, US-facing gaming operators in Macau were quickly reminded of the tensions with China during his last time in office. Analysts at Deutsche Bank argue that such expected tension should have a minimal impact, but argue the difficulty in comparing 2025 to 2018 due to the virtual disappearance of Macau’s VIP sector.
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