Good Morning. Comeback kid. Macau’s gaming sector is anticipating another year of muted growth, but CLSA equity analyst Jeffrey Kiang suggests that improving consumer confidence and changing industry dynamics could lead to a rebound as early as 2026. Chinese consumer sentiment will be vital for future gross gaming revenue (GGR), with indicators such as the Hang Seng Index historically aligning with gaming activity. Meanwhile, Thai Deputy Finance Minister Julapun Amornvivat believes investments in Thailand’s planned integrated resort could soar to THB200–300 billion ($6.2–9.2 billion) per site, significantly exceeding the initial estimate of THB100 billion ($3.1 billion).
What you need to know
- Macau’s gaming sector is bracing for another year of subdued growth, but signs are emerging that shifting industry trends could lay the foundation for a rebound as early as 2026.
- Up to $9B per entertainment complex projected in Thailand as leading global firms consider entry and Bangkok tops site list.
On the radar
- Future of Thai government in jeopardy as coalition partners clash – Report.
- Reef Casino Trust takeover talks remain ‘confidential and incomplete’.
- Macau’s LRT East Line is targeted for launch in the second half of 2029.
- Six arrested in Macau hotel robbery targeting illicit money exchangers.
AGB Intelligence
MACAU
CLSA predicts rebound for Macau’s gaming industry as trends shift
Macau’s gaming sector is preparing for another year of moderate growth. Still, CLSA equity analyst Jeffrey Kiang indicates that rising consumer confidence and shifting industry trends could pave the way for a rebound as early as 2026. While markets like Thailand and the Philippines are gaining momentum, they are not considered direct threats due to differing visitor profiles. Ultimately, CLSA believes Macau’s growth will depend on evolving consumer trends and strategic operator decisions, with the potential for recovery by 2026 if economic conditions improve.
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