Welcome to the most recent edition of our Focus Gaming News Weekend Conversation Corner, where we provide a brief analysis of the week’s top headlines that have captured global interest. As we summarize the key stories that have impacted the narrative, influenced policies, and sparked conversations, we invite you to join us in navigating through the information overload and offering a concise overview of the week’s important developments. Stay informed, stay motivated, and keep gaming. Have a fantastic weekend!
Macau casino operators faced cost headwinds in Q4, says Citi
In the article, analysts from Citigroup noted that Macau’s gaming concessionaires saw muted gains in the fourth quarter of 2025 due to increased operating expenses. The costs associated with hosting the NBA China Games, supporting the 15th National Games, and the closure of satellite casinos impacted the industry’s operating leverage. Despite a 13% year-on-year increase in EBITDA to US$2.25bn driven by GGR growth, operating costs offset some leverage benefits. Galaxy Entertainment, MGM China, and Sands China were expected to gain market share, while SJM may have lost ground due to satellite closures. Citigroup predicts a 6% growth in Macau’s GGR in 2026 to MOP263.5bn (US$33bn), with a 10% increase in EBITDA and stable EBITDA margins at around 29%.
Seaport predicts strong Q1 for Macau gaming revenue
Seaport Research predicts a 19% increase in Macau gaming revenue in January 2026, with a total of MOP21.73bn. Despite a slowdown in December, the report anticipates a 14% year-on-year growth in Q1 2026, driven by the Chinese New Year holiday. Seaport expects a 7% growth for the full year, emphasizing Macau’s status as a growth market due to China’s increasing wealth and travel spending. The report highlights the premium segment and overnight mass as key growth drivers, benefiting operators like Sands China and Galaxy Entertainment. Despite stock price fluctuations, Seaport believes that casino operators in Macau are currently undervalued.
New South Wales clubs and hotels see record gaming profits in Q3
In the third quarter of 2025, New South Wales clubs and hotels in Australia saw a rise in net gaming machine profits to AU$4.9bn. Licensed clubs generated AU$2.71bn while hotels brought in AU$2.19bn. The state government received over AU$1.4bn in gaming tax revenue, with clubs contributing AU$556m and hotels AU$835m. Fairfield led the clubs sector with the highest net profit, followed by Canterbury-Bankstown and Cumberland. In terms of hotel gaming revenue, the City of Sydney topped the list. Overall, gaming profits increased in various regions including Blacktown, Liverpool, and Penrith. This data indicates a significant contribution from the gaming industry to the state’s economy.
Grand Ho Tram starts receiving Vietnamese gamblers
Vietnamese players can now access The Grand Ho Tram casino under a five-year pilot program, following Corona Resort and Casino in Phu Quoc. The casino emphasizes responsible gaming with measures like information centers and staff training. Ho Tram currently offers 90 tables and 400 machines, with plans for expansion. Vietnamese players must be 21 years old, financially stable, and have no objections from family members. Sun Group’s upcoming casino project in Van Don will also allow local players in the future. The casino industry in Vietnam is growing, with a focus on responsible gaming practices and community education.
Macau sets new record for annual visitor arrivals in 2025
In 2025, Macau welcomed a record-breaking 40.06 million visitors, surpassing previous years and exceeding government forecasts. The majority of visitors came from the Chinese mainland, followed by Hong Kong and Taiwan. The total number of entries and exits in Macau reached 235 million, with a significant portion being local residents. During a recent period, Macau saw over 766,000 visitors, with an average daily arrival rate of 153,200. The official Statistics and Census Bureau will release more detailed data on visitor arrivals for 2025 on January 23.
Macau GGR reaches US$30.9bn in 2025
The article reports that Macau’s gross gaming revenue for 2025 increased by 9.1% year-on-year, reaching MOP247.40bn (US$30.9bn), surpassing the government’s forecast. This figure represents 84.6% of the pre-pandemic total in 2019. Strong December GGR contributed to this performance, with a 14.8% increase year-on-year. Despite this, December’s GGR was slightly lower than November’s. The Gaming Inspection and Coordination Bureau disclosed these figures, indicating a positive trend in Macau’s gaming industry.
Welcome to the most recent edition of our Focus Gaming News Weekend Conversation Corner, where we provide a brief analysis of the week’s top headlines that have captured global interest….
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