Weekend Conversation Corner – July, 17
Welcome to the newest installment of our Focus Gaming News Weekend Conversation Corner, a brief analysis of the week’s top stories that have captured global interest. As we break down the flurry of events into a succinct summary, we will delve into the key narratives that have molded perspectives, impacted policies, and sparked conversations. Join us as we cut through the clutter and provide a streamlined view of the week’s essential updates, keeping you informed on what truly counts in the ever-changing world of today. Stay knowledgeable, stay motivated, and continue gaming. And have a fantastic weekend!
Macau VIP baccarat GGR falls 2.6% in Q2
In the second quarter of 2026, VIP baccarat revenue in Macau decreased by 2.6% year-on-year to MOP15.9bn, accounting for 26% of total gaming revenue. Overall casino GGR for the quarter was MOP61.2bn, with mass-market baccarat being the largest revenue source at MOP35.2bn. The mass-market segment, including slot machines, saw a 0.8% increase in GGR to MOP45.1bn. Slot machine revenue rose by 17% to MOP4.11bn, while revenue from live multi-game electronic products increased by 3.1% to MOP1.30bn. Analysts attribute the shift in GGR composition in June to lower hold rates and the FIFA World Cup. Despite the decline in VIP baccarat revenue, mass-market baccarat continues to be a significant source of income for the industry.
Cambodian gambling regulator visits Victoria for knowledge exchange with VGCCC
The Victorian Gambling and Casino Control Commission hosted representatives from Cambodia’s Commercial Gambling Management Commission for a study visit focusing on casino regulation, compliance, enforcement, and responsible gambling. The visit aimed to strengthen cooperation and share regulatory expertise, including knowledge on risk-based regulatory approaches and responsible gambling initiatives. The exchange of information included discussions on Victoria’s Public Lotteries license framework. The visit facilitated an open dialogue and knowledge exchange to enhance regulatory capability and evidence-based gambling regulation. This visit is part of the CGMC’s study tour in Australia to learn from regulatory practices and exchange experiences in gambling oversight.
Jefferies lowers Macau GGR forecast, expects recovery from August
Jefferies, an investment bank, has adjusted its 2026 growth forecast for Macau’s gross gaming revenue (GGR) due to a soft June and July. They now predict a 5% year-on-year growth to MOP260bn (US$32bn) for the year, slightly below market consensus. The FIFA World Cup, capital controls, and tough comparisons affected Q2 results, with GGR down 7.4% quarter-on-quarter. Despite this, first-half GGR increased by 6.8%. Jefferies expects July GGR to be down 8% year-on-year due to the World Cup. They anticipate a 2% growth in the third quarter and 4% in the fourth. Other brokerages like CLSA have also adjusted their forecasts, with Citigroup predicting a 5% year-on-year decline in July GGR. The market is expected to bounce back post-World Cup.
Indian online gaming companies seek Supreme Court review of 28% GST ruling
Three online gaming operators in India have requested the Supreme Court to reconsider its decision on imposing a 28% GST on the full face value of bets. Play Games24x7, Junglee Games, and Sachiko Gaming are challenging the ruling that real-money online games are taxable on the total bet amount rather than just platform fees or gross gaming revenue. The court also upheld retrospective tax demands, allowing authorities to pursue claims dating back to the introduction of GST amendments in 2023. The gaming industry argues that the tax should only apply from October 1, 2023, to avoid financial strain on operators facing demands totaling US$13.4 billion. The Supreme Court will review the petitions to determine if there are sufficient grounds to reopen the case.
Macau gaming tax revenue up 13% January-June
The Macau government collected US$6.3bn from casino operations in the first half of 2026, with gaming taxes contributing significantly to government revenue. Under the 10-year concessions, casinos pay 40% of GGR in taxes. The government’s fiscal budget plan for 2026 estimates income from gaming sector taxes to reach US$11.52bn. Despite a 6.8% increase in GGR year-on-year, it remains 15.1% below pre-pandemic levels in 2019. The city recorded a fiscal surplus of US$1.6bn for the January-June period, showing a 14.7% increase compared to the previous year. The Gaming Inspection and Coordination Bureau reported that Macau’s GGR in June was US$2.8bn, contributing to a total of US$15.72bn for the first half of 2026.
