CreditSights said a series of new and upcoming non-gaming and premium offerings across Macau’s casino resorts could support further non-gaming spending, though it cautioned that meaningfully raising average spending per visitor remains difficult, leaving visitor volume as the principal driver of growth.
The assessment appeared in the research firm’s Macau Gaming Monitor report published on May 28th.
The firm pointed to several recently completed or planned developments expected to bolster non-gaming revenue. These include the newly opened Chairman’s Club at Wynn Palace, 60 completed suite conversions and renovated premium gaming areas at MGM Cotai, and planned renovations of 100 suites at MGM Macau. It also cited the phased opening of the luxury REM hotel at City of Dreams Macau from early in the third quarter of 2026 and the progressive reopening of refreshed rooms and suites at The Venetian from the third quarter.
Despite these additions, CreditSights said the path toward a significant increase in average non-gaming spending per capita is challenging, citing slower expected growth in China’s economy. It noted that China lowered its 2026 real gross domestic product growth target to a range of 4.5 percent to 5 percent, from around 5 percent for the 2023 to 2025 period, during the Two Sessions meeting in March.
The firm projects Chinese growth of 4.7 percent for the 2026 fiscal year. As a result, it continues to view visitation volumes as the main driver of further improvement in total non-gaming spending.
The outlook follows a record quarter for non-gaming activity. Total non-gaming spending, reported quarterly, rose 25 percent year-on-year to a record MOP24.4 billion ($3.02 billion) in the first quarter of 2026, equivalent to 144 percent of the first-quarter 2019 figure. The increase was driven by higher non-gaming spending per capita, which rose 10 percent to MOP2,179 ($270), and by stronger visitor arrivals, up 14 percent over the quarter. Non-gaming spending accounted for 37 percent of overall gaming revenue in the period.
Chinese visitors, who made up 75 percent of total arrivals in the quarter, spent an average of MOP2,392 ($296) per capita on non-gaming activities, up 4 percent year-on-year.
