sinais contraditórios
ou26
Samuel Tong diz que os turistas estão mais prudentes nos gastos
pesar de a economia do Interior da China manter o crescimento de 4,5 por cento este ano, o presidente do Instituto de Gestão de Macau, Samuel Tong, argumenta que a taxa de crescimento diminuiu e que o consumo dos turistas chineses também.
Segundo o jornal Ou Mun, o responsável afirmou que o desempenho das acções do Interior da China e de Hong Kong está a ser pior do que no ano passado, pelo que as pessoas têm menos confiança na altura de gastar, adoptando uma postura mais cautelosa.
O especialista explicou também que, ao mesmo tempo, a correcção do mercado imobiliário não apresenta sinais de ter chegado ao fim, o que contribui igualmente para o menor consumo dos visitantes.
Este é um cenário que também se verifica ao nível dos turistas de Hong Kong e internacionais, devido ao aumento dos preços dos combustíveis motivado pela guerra entre os Estados Unidos da América (EUA) e o Irão.
Samuel Tong explicou que a guerra está a manter os preços dos combustíveis elevados e a causar uma pressão inflacionista num clima de incerteza económico. Como resposta, os bancos centrais das economias avançadas, como Europa e EUA, subiram os juros para combater a inflação, limitando o acesso ao crédito.
Macau a sofrer
Face às mudanças económicas no exterior, Tong considera impossível que Macau não seja afectada. Por isso, o também membro do Conselho Executivo defende que o Governo deve aproveitar os fundos de orientação governamental para atrair investimento social, impulsionando assim as oportunidades de emprego e a procura interna.
Samuel Tong também apontou que o Governo precisa de acelerar o passo na melhoria da qualidade dos turistas, expandindo a rede de rotas aéreas para facilitar a visita de turistas internacionais.
Por outro lado, o académico destacou que os comerciantes devem entender que o período de crescimento anterior à pandemia acabou, devendo acelerar a transformação para consolidar a sua competitividade.
https://hojemacau.com.mo/2026/10/09/samuel-tong-diz-que-os-turistas-estao-mais-prudentes-nos-gastos/
ou26
Macau’s 2026 gaming revenue forecasts adjusted down further as China tax policy, choppy macro conditions soften demand
set26
Wynn Resorts management has admitted it is not able to pinpoint any one core reason for a recent slowdown in Macau gaming fundamentals but remains positive on the city’s long-term trajectory.
The comments were reported by investment bank J.P. Morgan following investor meetings held with the casino operator in Las Vegas this week, covering latest developments across Wynn’s properties in Vegas, Macau and Boston, as well as its US$5.7 billion Wynn Al Marjan project in the UAE.
On recent softness in the Macau market, which has seen the strong start to 2026 slow markedly since May, Wynn said it was tough to pinpoint the exact reason fundamentals have slowed, according to a J.P. Morgan investor note.
“Any potential impact from China’s offshore tax policy is difficult to disaggregate from World Cup timing and seasonality, but management is optimistic that any pause in spend will be temporary,” said J.P. Morgan analysts Daniel Politzer, Samuel Nielson and Michael Hirch of their Wynn meetings.
“Despite industry GGR growth slowing, management did not call out any meaningful change in industry promotional levels or the competitive environment.”
Wynn also expressed confidence in the development trajectory of Wynn Al Marjan Island, having recently set a September 2027 opening date. The operator said it remains on budget and on schedule to achieve that target, explaining that the UAE is “a lot more ‘back to normal’ than would be indicated in the press.”
The company pointed to lodging demand being down 25% year-on-year in September versus a 50% decline earlier in the year, and also suggested that the regional conflict could potentially “extend their period of effective exclusivity” given suggestions that other emirates could eventually follow Ras Al Khaimah’s lead by permitting casino gaming.
https://asgam.com/2026/10/01/wynn-unclear-on-reasons-for-macau-slowdown-but-insists-pause-on-spend-is-temporary/
set26
Gamblers in Macau generated an average of MOP5,836 (US$722.5) in gross gaming revenue in the first eight months of 2026, edging down from MOP6,010 recorded for the period between January and July this year.
According to CreditSights, the MOP5,836 level for the first eight months of 2026 is also lower than the prior-year level of MOP6,062.
In 2019, the comparable level was MOP7,224. This represents a decline of over 19 per cent from that pre-Covid level.
“We continue to see a difficult path for gaming spending per capita to meaningfully recover,” wrote analysts Nicholas Chen and David Bussey on Monday.
Information from Macau’s gaming regulator shows that between June and August, there were year-over-year declines in gross gaming revenue, back-to-back, with the June result down more than 12 per cent compared with 2025.
As of August, Macau casinos had accumulated over MOP169 billion in gross gaming revenue, representing a rise of 3.7 per cent from the previous year.
Macau’s government forecasted in its 2026 budget that the year would yield a total of MOP236 billion.
Theoretically, 71.6 per cent of that goal has been realised so far.
https://macaubusiness.com/per-head-gaming-spending-dips-further-from-pre-covid-level/
set26
Citi: Macau premium mass rooms at their quietest in recent history
Citigroup’s latest monthly Macau premium mass gaming table survey produced results the investment bank says were “among the worst in recent history,” although this could be due to players postponing trips ahead of the upcoming Mid-Autumn Festival holiday and National Day “Golden Week” holiday.
In a Monday note, Citi analysts George Choi and Timothy Chau said Macau’s casino floors were in general quieter even than three months ago at the start of the World Cup, with total premium mass wager observed down 45% year-on-year to HK$6.8 million (US$867,000) and the number of players 20% lower at 401. This, they added, implies that average wager per player fell 31% year-on-year to HK$16,958 (US$2,162).
The 14 “whales” spotted was 17 fewer than the previous month and 13 fewer than September 2025.
However, Choi and Chai said they “cannot firmly conclude whether the weak results are a function of players’ lowered willingness to spend or the unfavorable timing of our survey – conducted one week before the Mid-Autumn Festival holiday and two weeks before the National Day ‘Golden Week’ holiday.
“Recall, two years ago, most investors turned pessimistic on Macau after seeing the disappointing September 24 GGR, but they subsequently realized that many players decided to postpone their Macau trips for the Andy Lau concert during the National Day Golden Week that year, which led to strong October 2024 GGR.”
Despite this and admitting a conservative approach, Citi is lowering its September GGR estimate from MOP$19.0 billion (US$2.42 billion) to MOP$18.0 billion (US$2.29 billion), which would see 3Q26 GGR down 4% over the same quarter last year.
https://asgam.com/2026/09/21/citi-macau-premium-mass-rooms-at-their-quietest-in-recent-history/
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