Good morning. Tightening the belt. Macau’s Chief Executive, Sam Hou Fai, warned that the city’s 2025 fiscal revenue may be lower than expected due to a slow gaming industry, emphasizing the need for significant development projects to address economic challenges. Meanwhile, Melco International is expecting an asset impairment as high as HK$1 billion ($128.6 million) due to its Studio City integrated resort. The group is now projecting a net loss ranging from HK$1.5 billion ($192.2 million) to HK$1.7 billion ($218.1 million) for 2024.
What you need to know
- Macau’s Chief Executive warns that a sluggish start for the gaming industry could impact 2025 revenue targets.
- Melco International Development is expecting an asset impairment as high as $128M, due to its Studio City IR in Macau.
On the radar
- Chinese man arrested for rumors linking singer Jay Chou to gambling debts.
- Macau lawmaker pushes for more non-gaming investment.
- PAGCOR pledges $5.2M in financial grants to PNPA.
- New POGO raid in Pasay City nets 49 foreigners.
AGB Intelligence
MACAU
Gaming industry slowdown threatens Macau’s 2025 revenue projections
Macau’s Chief Executive, Sam Hou Fai, cautioned that the city’s 2025 fiscal revenue may fall below expectations due to a slow start in the gaming industry, highlighting the need for major development projects to stimulate future growth, although specific revised revenue figures were not disclosed. Earlier projections estimated Macau’s gross gaming revenue (GGR) for 2025 at MOP240 billion ($29.7 billion), an increase of about 11 percent from the 2024 budget forecast of MOP216 billion.
Industry Updates
- Play’n GO Music & MoneyGram Haas F1 drop Ultimate Race Day Playlist.
- ELA Games enters Danish market via collaboration with RoyalCasino.
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