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
BiS SiGMA South America 2026
06 de April 2026
Fast Track Showcases AI-Powered CRM Innovation at BIS Sigma South America 2026
(São Paulo, SoloAzar Exclusive).- At the recent BIS Sigma Edition, Fast Track highlighted how its AI-driven CRM solutions are reshaping operator strategies in Brazil’s newly regulated iGaming market. Muriel Le Senechal, Regional Commercial Manager for LatAm, shared insights on the industry’s shift from acquisition to retention, emphasizing the role of automation, personalization, and real-time engagement in driving sustainable growth.
Tuesday 12 May 2026 / 12:00
Pay4Fun’s Leonardo Baptista on BiS SiGMA South America 2026: Regulation, Market Maturity and Brazil’s Expanding Opportunities
(São Paulo, SoloAzar Exclusive).-In this interview at BiS SiGMA South America 2026, Leonardo Baptista, CEO and co-founder of Pay4Fun, shares insights on the event’s strategic importance for the Latin American gaming industry. He highlights the growing maturity of regulatory discussions, the increasing focus on compliance and sustainability, and the expanding opportunities in Brazil—one of the most promising regulated markets globally.
Thursday 07 May 2026 / 12:00
Air Dice Strengthens LATAM Presence with BiS SiGMA São Paulo Trade Show
(São Paulo, SoloAzar Exclusive).- Erkki Nikunen, Partner & CBDO at Air Dice, discussed the company’s participation at BiS SiGMA São Paulo. In this exclusive conversation with SoloAzar, he shares insights on their experience as exhibitors, business opportunities generated, and the company’s vision for Brazil and the wider Latin American market.
Wednesday 06 May 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.
