Macau casino promotional spend to remain elevated
set26 Promotional spending by Macau casino operators is likely to remain elevated in the second half of 2026 amid intense competition for higher-spending customers, says CBRE Equity Research. The Macau market “competitive environment remains intense, particularly for higher-spending premium customers,” wrote analysts John DeCree and Max Marsh in a report issued on Wednesday. “In the second quarter of 2026, total gaming commissions as a percentage of aggregate Macau GGR [gross gaming revenue] hit a new peak of 20.9 percent,” they noted. “However, this was partially due to low VIP hold that weighed on GGR.” The brokerage noted that market-wide VIP hold averaged 2.6 percent in the second quarter, about 90 basis points below the trailing 12-month average of 3.5 percent. In absolute terms, commissions declined sequentially to US$1.57 billion in the second quarter, from a peak of US$1.65 billion in the first three months of the year, according to CBRE’s estimates. The institution expect...