Macau’s diversification efforts appear to be showing some positive impact, with Macau’s non-gaming sectors seen contributing around 15% of concessionaire revenues in 2024.
According to a note by Seaport Research Partners analyst Vitaly Umansky, Macau GGR should rise to US$28.7 billion this year, up 26.1% year-on-year, while non-gaming is tipped to rise to US$4.9 billion, up 17.7% year-on-year. This would see non-gaming equate to 15% of all revenues, boosted by concessionaire spending on non-gaming initiatives as mandated under their current 10-year concession contracts.
“In 2025, we forecast GGR to rise to US$31.8 billion and non-gaming to rise to US$5.3 billion,” Umansky added, suggesting the contribution of non-gaming will slip slightly to around 14%.
