Good morning. The long view on Macau is getting shorter on optimism. CLSA has cut its 2027 GGR forecast by 4 percent to $32.2 billion, arguing that muted growth and stubborn operating costs will keep casino margins under pressure. The near-term picture is hardly brighter: HSBC sees third-quarter GGR falling 3 percent to 5 percent as premium-player volumes soften, while UBS says September’s slowdown is steeper than the usual seasonal dip. In Japan, Yokohama mayoral candidate Kazuma Nakatani is pledging to seek a local ordinance banning casinos.

What you need to know

CLSA cut its 2027 Macau GGR forecast by 4%, warning that rising operating costs could keep casino margins under pressure.
Macau’s September casino GGR could fall 4% or rise up to 3%, while HSBC expects a weaker third quarter.
Yokohama mayoral candidate Kazuma Nakatani pledges to keep casinos out of the city and pursue a local prohibition ordinance.

On the radar

Osaka sets $595M minimum price for site next to MGM Osaka.
PAGCOR expects decision soon on casino operations split.
Macau’s YOHO Gold Coast Hotel launches hiring drive for more than 330 jobs.

AGB Intelligence

MACAU

CLSA trims 2027 Macau GGR forecast on weak indicators and costs

CLSA has cut its 2027 Macau gross gaming revenue forecast by 4 percent to MOP259.2 billion ($32.2 billion), implying year-on-year growth of 2.4 percent. The brokerage warned that operating costs are likely to continue rising faster than casino revenue, keeping EBITDA margins under pressure through 2027. It expects growth to come mainly from higher visitation and a stronger renminbi, while weak Chinese consumer and industrial indicators remain key headwinds for the market.

Industry Updates

Aristocrat Gaming’s Timber Wolf Mega Stampede debuts across N. America.
OpenBet agrees to acquire OmniLogic and strengthen lottery capabilities.
BMM Testlabs to exhibit testing and cybersecurity solutions at SBC Summit 2026.

daily ebrief

Written by AGBrief Editorial The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers. More from AGBrief Editorial →