Macao: Morgan Stanley Forecasts 15% GGR Growth as Dividends Make a Comeback
Wednesday 27 de August 2025 / 12:00
2 minutos de lectura
(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
G2E - Las Vegas 2025
06 de October 2025
Aristocrat Unveiled 2026-Ready Gaming Innovations and Omnichannel Strategy at G2E
(Las Vegas, SoloAzar Exclusive).- At this year’s Global Gaming Expo, Aristocrat Gaming and Aristocrat Interactive made a powerful statement with a joint showcase of over 200 cutting-edge games and solutions. Craig Toner, CEO of Aristocrat Gaming, highlighted commitment to innovation, seamless omnichannel experiences, and global market leadership—underscored by the debut of MONOPOLY Big Board Bucks and the expansion of the iconic Lightning Link™ into the iGaming space.
Wednesday 22 Oct 2025 / 12:00
Derik Mooberry, CEO of Zitro USA, Reflects on Innovation and the Legacy of 25 Years of G2E in Las Vegas
(Las Vegas, SoloAzar Exclusive).- In this interview, the United States Zitro CEO Derik Mooberry shares insights into the company’s standout innovations presented at G2E 2025 and celebrates the 25th anniversary of the event in Las Vegas. "Being part of G2E’s 25th anniversary was really special" he said.
Tuesday 21 Oct 2025 / 12:00
Spintec exhibited its product collection with its strategic partner Merkur Gaming at G2E Las Vegas
(Las Vegas).- Spintec exhibited with its strategic partner Merkur Gaming at G2E Las Vegas 2025, after being recognized with multiple honours across the world, including Best Performing ETG Product in LATAM and Western Europe (Eilers, 2025) and Best Electronic Table Game Solution at the Asia Gaming Awards 2025.
Tuesday 21 Oct 2025 / 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.