Good morning. The recovery is running into heavier ground. Morgan Stanley has shaved its 2026 Macau GGR forecast to $32.3 billion, citing decelerating growth and downward pressure on industry estimates. The bank now sees annual growth of 5.3 percent, with sector EBITDA growth cut to just 1 percent as costs stay high. Meanwhile, Citigroup’s June table survey shows premium mass wagers tumbling 38 percent to $1.25 million, as the World Cup keeps players’ eyes on the pitch. Macau’s May visitor arrivals rose to nearly 3.5 million, but same-day traffic did most of the work.
What you need to know
- Morgan Stanley now sees 2026 Macau GGR rising just 5.3 percent, with quarterly growth of only 2-3 percent through the fourth quarter of 2026.
- Citigroup’s table survey showed Macau premium mass wagers dropped 38 percent to $1.25 million, a post-pandemic low.
- Macau visitor arrivals rose 3.4 percent to 3.49 million in May, driven by stronger same-day travel and mainland demand growth.
On the radar
- Macau Peninsula hotels see softer occupancy, eye 90% in summer.
- Bangladesh advances gambling bill targeting online betting and wallets.
- Patrick Dumont’s deemed LVS interest rises to 11.65%.
- PhilWeb unveils new logo as part of wider corporate identity refresh.
- Thailand blocks nearly 14K World Cup gambling links in AI-driven crackdown.
AGB Intelligence
MACAU
Morgan Stanley trims Macau GGR outlook as growth slows
Macau’s gaming recovery is expected to lose momentum in 2026, according to Morgan Stanley, which lowered its full-year GGR forecast to MOP260.6 billion ($32.3 billion). The revised estimate implies 5.3 percent growth, below broader market expectations of about 6 percent. The bank also trimmed its sector EBITDA growth outlook to 1 percent, citing weaker revenue assumptions, higher costs and expected negative revisions across operators.
Industry Updates
- SOFTSWISS Sportsbook enhances UX with Fiat Display and Lite Mobile mode.
- Okada Manila lands dual Top 3 at Travel + Leisure Luxury Awards 2026.
- BetConstruct AI joins forces with FIFA-backed ADI Predictstreet.
Corporate Spotlight
How Crypto Adoption in Asia is Changing iGaming Payments
Yevhen Krazhan, CSO at GR8 Tech, explores how surging crypto adoption across Asia is revolutionizing iGaming payments, stating: “When I look at what’s changing fastest in Asia, it’s payment behavior,” as wallets, stablecoins, and seamless cross-border transfers become deeply ingrained in player habits. The winning operators will be those that offer fast, reliable, and local deposits and withdrawals. To make sense of it, Yevhen breaks Asia into two crypto realities.
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