Good morning. Waiting on the rebound. Macau’s gaming revenue should grow by a modest 4 percent year-on-year to $29.3 billion in 2025, investment bank CLSA forecasts, with a stronger rebound anticipated in 2026. Meanwhile, Thailand’s Council of State is planning to oppose the new IR Bill, claiming it fails to address illegal gambling issues adequately. In Australia, The Star Entertainment Group may face voluntary administration as lenders doubt the group could find an investor to ease its financial woes.
What you need to know
- CLSA forecasts Macau’s GGR growth rate to improve only in 2026, driven by an anticipated recovery in Chinese consumer confidence.
- Thailand’s Council of State plans to oppose the upcoming IR Bill, arguing that it violates government policy and fails to adequately address illegal gambling issues.
- The Star Entertainment Group may face voluntary administration within months, as lenders doubt the company’s ability to secure a lifeline investor.
On the radar
- Wynn Resorts acquires Crown London, expanding its international footprint.
- Indian Supreme Court halts GST notices to online gaming companies.
- Macau sees positive impact from new visa policy, says MGTO.
- Queensland pubs and clubs GGR rise 9% Y-o-Y in December.
- China’s Vice-Commerce Minister meets with LVS CEO, welcomes foreign investment.
AGB Intelligence
MACAU
CLSA forecasts 4% growth in Macau’s GGR for 2025
Investment bank CLSA forecasts moderate growth for Macau’s gaming revenue in 2025, predicting a 4% year-on-year increase to $29.3 billion, with a more robust rebound anticipated in 2026 as Chinese property prices stabilize and consumer confidence improves. Following a strong recovery post-COVID, the gaming market has faced low growth rates, despite a significant rise in annual visitation, which reached nearly 35 million in 2024.
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