Macao: Morgan Stanley Forecasts 15% GGR Growth as Dividends Make a Comeback
Wednesday 27 de August 2025 / 12:00
⏱ 2 min read
(Macao).- The investment bank now expects Macao’s gross gaming revenue to rise 15% year-on-year in H2 2025, driven by strong interim dividend payouts from concessionaires and above-average casino activity.
Macao’s casino sector is showing renewed investor appeal, with Morgan Stanley forecasting a 15 percent year-on-year rise in gross gaming revenue (GGR) in the second half of 2025 – plus a likely re-rating of gaming stocks on the back of robust dividend payouts, multiple casino industry outlets report.
The investment bank’s analysts pointed to interim dividends with more than 50 percent payout ratios declared by Wynn Macau, MGM China, Galaxy Entertainment and Sands China as a signal of confidence in the industry’s recovery. They noted that a return of dividends “usually results in re-rating.”
Wynn surprised by maintaining its HK$0.185 per share payout despite lower revenue and profit, while Galaxy declared HK$0.70 and MGM China HK$0.313, the gambling media outlets said. Sands’ HK$0.25 dividend was lower than expected, which analysts reportedly linked to a US$1 billion shareholder loan repayment to parent Las Vegas Sands.
On the ground, Morgan Stanley’s analysts described the SAR’s casinos as “busier than usual amid seasonality.” Minimum bets ranged from HK$1,000 to HK$2,000 in Melco and Galaxy Macau during their 18 August visit, and hotel rooms were difficult to secure. Non-gaming attractions such as concerts and sports events are also adding to momentum, they noted.
Still, the bank cautioned that margins were not yet lifting, with industry operating expenses up a “quite high” 14 percent year-on-year in the second quarter.
Looking ahead, Morgan Stanley predicted that Wynn and Galaxy would gain market share in the third quarter, while SJM could see some revenue leak to Sands and MGM as its satellite casinos wind up operations.
Categoría:Casino
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA North America 2026
01 de September 2026
Evert Montero Analyzed Colombia's Gaming Regulation at SiGMA
(Mexico City) — Speaking at SiGMA North America 2026, FECOLJUEGOS President Evert Montero Cárdenas offered a deep dive into the regulatory shifts shaping the Latin American and North American markets. He highlighted the sustainability challenges ahead for Colombia's industry and the ongoing impact of technological innovation. A major highlight of the September 1-3 summit at Mexico City’s Centro Banamex was Montero's induction into the Hall of Game 2026.
Friday 11 Sep 2026 / 12:00
Sportradar highlights LATAM growth at SiGMA North America
(Mexico City, SoloAzar Exclusive).- Rodrigo Cambiaghi, Sales Executive Lead, Digital Advertising at Sportradar, highlighted the strategic importance of Mexico and the broader Latin American market during SiGMA North America 2026. Held from September 1–3 at Centro Banamex in Mexico City, the event brought together nearly 2,250 delegates and focused on artificial intelligence, innovation, public-private collaboration and the adaptation of global strategies to local market dynamics.
Friday 11 Sep 2026 / 12:00
AIEJA Highlights Success of SiGMA North America in Mexico
(Mexico City, SoloAzar Exclusive).- Dr. Miguel Ángel Ochoa Sánchez, Executive President of AIEJA, underscored the success of the inaugural SiGMA North America in Mexico, noting its crucial role in elevating the local gaming industry on the global stage. Speaking at the event—held September 1-3 at Mexico City's Centro Banamex—he also broke down key regulatory hurdles, strategies to combat illegal gambling, and emerging opportunities within the sector.
Wednesday 09 Sep 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
