Good Morning. Macau’s economy concluded 2025 with stable performance and record tourism levels, but faced challenges from slowing gaming revenue, weak resident income growth, and pressures on small enterprises, a local think tank commented. The Macau Economic Association now forecasts a solid foundation for the tourism and leisure sectors in early 2026, driven by policy measures and expected boosts from peak travel periods. VIP gaming accounted for 30.7 percent of the SAR’s casino gross gaming revenue in the fourth quarter of 2025, highlighting a stronger contribution from VIP baccarat alongside steady mass-market performance.
What you need to know
- Macau’s economic growth slowed in 2025 but remains robust, even as gaming revenue softens, notes the Macau Economic Association.
- Macau sees VIP baccarat revenue climb to $2.53B in 4Q25, accounting for nearly one-third of total casino GGR.
On the radar
- Delta Corp posts $2.14M profit in 4Q25, down over 53% year-on-year.
- China calls for surrender of Chen Zhi crime syndicate suspects by Feb 15th.
- Cape Verde gov’t takes over unfinished Macau Legend hotel-casino project.
- Novomatic appoints first Supervisory Board Chairwoman: Birgit Wimmer.
AGB Intelligence
MACAU
Macau maintains stability despite slower 2025 growth
The MSAR economy ended 2025 on a stable note, though growth momentum showed signs of easing, particularly with a slowdown in gaming revenue, as noted by the Macau Economic Association. While gross gaming revenue remained up year-on-year, December experienced a slight decline compared to November, indicating moderating growth. Tourism thrived, with visitor arrivals hitting a record 40.06 million, surpassing pre-pandemic levels. The association forecasts a solid foundation for tourism and leisure in early 2026, supported by policy measures and peak‑season travel boosts, while warning of operational pressures on smaller enterprises, and it expects the economic climate index to hold steady at 6.1–6.3 points in Q1 2026.
Industry Updates
- Pronet Gaming introduces its revamped brand identity.
- Wynn receives dual honors at the TVB ESG Awards 2025.
- Pragmatic Play set to showcase its 2026 lineup at ICE Barcelona.
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