Good morning. The higher you climb, the harder the comparisons hit. Jefferies trimmed its May GGR growth call for Macau to 3–5 percent, warning that tougher year-on-year comparisons through 2026 are already biting — and flagging premium mass as the segment still doing the heavy lifting, with Wynn and Galaxy best placed. Speaking of which, Galaxy Macau Phase 4 is now penciled in for a 2028 opening, courting high-value travelers from Japan, Korea, and ASEAN. Meanwhile, Century Entertainment mapped a ten-stage path back to Hong Kong trading by August 2026, leaning on its Philippine partner platform launch and first licensed venue deal.
What you need to know
- Jefferies turns more cautious on Macau’s May GGR outlook, now seeing 3 percent to 5 percent growth and revenue of $2.72 billion to $2.79 billion.
- Galaxy Macau Phase 4 is expected to open in 2028, targeting premium travelers from Japan, South Korea and ASEAN markets.
- Hong Kong-listed Century Entertainment targets August 2026 for trading resumption, anchored by its WPT platform launch and Philippine GVO progress.
On the radar
- Philippine tax authority says casino jackpot prizes face withholding tax.
- Kjerulf Ainsworth-backed director bid rejected at Ainsworth AGM.
- PAGCOR launches 24/7 helpline for problem gamblers in the Philippines.
- Hong Kong airport opens T2 departure facilities after $1.7B upgrade.
- Chinese embassy warns nationals over rising telecom fraud in Indonesia.
AGB Intelligence
MACAU
Jefferies trims Macau May GGR forecast on softer daily trends
Macau’s May gross gaming revenue is expected to grow just 3-5 percent year-on-year, Jefferies said, citing softer late-month trends and tougher comparisons through 2026. Full-month GGR is projected at $2.72-2.79 billion, below market consensus. Premium mass remains the dominant growth driver, favoring Wynn Macau and Galaxy Entertainment. Macau’s draft Five-Year Plan also signals a two-year delay to its non-gaming diversification goal, now targeting 2030.
Industry Updates
- BetConstruct AI is bringing its full AI suite to SiGMA Asia 2026 in Manila.
- SOFTSWISS showcases expanded iGaming portfolio at NEXT Valletta 2026.
- Altenar upgrades sportsbook platform boosting personalization and engagement.
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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