Okada Manila operator Tiger Resort, Leisure and Entertainment (TRLEI) saw a 3.7 percent drop in its 4Q24 gross gaming revenue results, falling to PHP8.97 billion, with falls in both gaming machine revenue and VIP table games.

According to an investment memo from JP Morgan, Macau's 4Q24 saw the highest gross gaming revenue (GGR) in 20 quarters, despite challenging conditions.

Macau’s premium mass segment will continue to play a central role in driving gross gaming revenue through 2025, despite drops in overall losses and the depreciation of the RMB.

Waiting on the rebound. Macau's gaming revenue should grow by a modest 4 percent year-on-year to $29.3 billion in 2025, investment bank CLSA forecasts, with a stronger rebound anticipated in 2026. Meanwhile, Thailand's Council of State is planning to oppose the new IR Bill, claiming it fails to address illegal gambling issues adequately. In Australia, The Star Entertainment Group may face voluntary administration as lenders doubt the group could find an investor to ease its financial woes.

Queensland’s gaming industry has reported encouraging results for December, with state-wide club and pub Electronic Gaming Machine (EGM) total gross revenue rising by 9.0 percent compared to December of the previous year and saw a 2.2 percent uptick from the prior month. 

CLSA forecasts more moderate growth in Macau’s gaming revenue in 2025, with a potential improvement in the growth rate expected in 2026, once Chinese property prices stabilize and consumer confidence picks up.

Macau’s gaming industry faced a challenging fourth quarter of 2024, with December’s gross gaming revenue (GGR) falling below projections due to President Xi Jinping’s 3-day visit to the SAR, brokerage Seaport noted.

The only way is up. Strong spending from Chinese tourists in 2025 is expected to boost Macau GGR by 8 percent, with both mass and VIP markets to report increases, Goldman Sachs predicts. In Japan, a public interest organization based in Tokyo, has warned that online gambling addiction has become a significant issue in Japan since the onset of the COVID-19 pandemic.

Goldman Sachs projects an 8 percent year-on-year growth in Macau’s gross gaming revenue (GGR) for 2025, driven by continued strong travel spending from Chinese tourists.

Experts say that the ongoing growth in tourist numbers could help push Macau’s gross gaming revenue in 2025 to MOP250 billion ($31.2 billion), beyond government estimates.