AGP Executive Report

Macau Gaming: Macau’s casinos posted June gross gaming revenue of MOP18.52 billion, down 12.1% year-on-year and 18.1% month-on-month, with analysts pointing to the FIFA World Cup pulling discretionary spend away from the city. Tourism & Culture: The 3rd Macao International Children’s Arts Festival opens July 3 with “Erth’s Dinosaur Zoo,” a Giant Puppetry x Science show at the Macao Cultural Centre. Urban Renewal Policy: The government is exploring land premium adjustments and possible tax incentives to make urban renewal more financially workable, while lawmakers push for easing ownership and condo repair procedures. Real Estate: Centaline reports weaker first-half activity in Macau’s housing market, with fewer transactions and tighter credit, and notes leasing performance is uneven, with tourist areas stronger. Tech & Industry Building: Macau inaugurated the Macao International Science and Technology Industry Centre as a pilot platform to help form a tech cluster ahead of the planned science and technology park. Biopharma Deal: Junshi Biosciences signed a licensing collaboration with Fosun Wanbang for roconkibart (anti-IL-17A) across Greater China, including Macau. Hospitality Business: MGM China agreed to buy full ownership of its mainland hotel management arm for $20m, aiming to expand beyond Macau. Insurance Appointments: Manulife named Lilian Ng as an independent non-executive director and appointed new marketing chiefs for Hong Kong and Macau.

Macau Gaming Watch: Macau’s 20 casinos posted June gross gaming revenue of MOP$18.5 billion, down 12.1% year-on-year, with the World Cup blamed for softer betting and June also slipping 18.1% versus May. Macao Tech & Diversification: The Macao International Science and Technology Industry Centre was inaugurated as a pilot platform to pull in high-tech firms and build an innovation cluster ahead of the planned science and technology R&D industrial park. AI & Digital Entertainment Push: IPIM and Shengqu hosted the “Digiloong Cup” Macao Investment Summit & AI Ecosystem Forum, drawing about 120 institutional representatives and setting up matchmaking to strengthen AI industry-chain cooperation. Hospitality & Retail Expansion: MGM China agreed to buy full ownership of its mainland hotel management arm in a $20m deal, aiming to scale branded hospitality services across China. Local Tourism & Culture: UTM held a symposium on how sporting events can drive community economic vitality, while the “Erth’s Dinosaur Zoo” puppet show is set to open the Macau International Children’s Arts Festival. Regional Industry Signals: Shenzhen’s “Robot Valley” keeps gaining global attention as robotics firms, universities, and capital markets cluster together. Casino Leadership: SJM Holdings named Sean Tan (from NagaCorp) as its new CFO, replacing Christopher Ip. Cross-border Governance: The Guangdong-Macao Intensive Cooperation Zone entered a more execution-focused phase, with priorities set for industrial rollout and institutional integration in Hengqin.

Macau Gaming: Macau’s 20 casinos posted June gross gaming revenue of MOP 18.5 billion, down 12.1% year-on-year and 18.1% month-on-month, with the World Cup blamed for softer betting; still, first-half GGR rose 6.8% to MOP 126.9 billion. Tech & Industry Policy: Chief Executive Sam Hou Fai inaugurated the Macao International Technology Industry Centre as a pilot platform to attract firms in biomedicine, digital tech, integrated circuits and aerospace ahead of the larger science park. Energy Storage Supply Chain: Pace Digitek’s Lineage Power signed a 3 GWh LFP battery cell procurement deal with Guangdong-Hong Kong-Macao Greater Bay Area supplier RJE Tech, aiming to stabilize sourcing for BESS projects. Cross-Border Logistics: Cathay Cargo launched an integrated perishables network, extending Air-Land Fresh Lane to Macao and adding a refrigerated barge link to Dongguan. Retail & Travel Trade: Hennessy’s LVMH-backed Cognac rolled out the “Odyssey of Travel” duty-free campaign, now live across hubs including Macau. Local Economy Signals: May data showed restaurant & similar establishments transaction values up 1.8% year-on-year and retail trade up 14.0%, led by watches/jewellery and cosmetics.

Macao Tech Push: Chief Executive Sam Hou Fai inaugurated the Macao International Technology Industry Centre (MITIC), a pilot platform run by the Macao Institute of Industrial Technology to attract firms in biomedicine, digital tech, integrated circuits and aerospace ahead of the larger science park. Energy Storage Supply: Pace Digitek’s Lineage Power secured a 3GWh battery cell supply deal with Guangzhou Rongjie Energy Tech, aiming to lock in LFP cells and strengthen its BESS manufacturing amid price and supply volatility. Tourism & Retail Momentum: Hennessy’s X.O “Odyssey of Travel” campaign is rolling out travel retail activations and city-themed limited decanters across hubs including Macau, while APEC tourism ministers continue to spotlight Macao’s culture-led visitor appeal. Cross-Border Business Support: Hong Kong’s DoJ launched a GBA Legal Information Platform for housing, business, work, education, family and healthcare, with “one question, three answers” guidance for residents and firms operating across Guangdong, Hong Kong and Macao. Local Economy Signals: Macao’s DSEC reported May electronic payments rising 1.8% for restaurants and 14.0% for retail trade year-on-year, with watches/jewellery and cosmetics among the fastest-growing categories. Transport & Connectivity: Cathay Cargo and Hactl highlighted intermodal perishables links, extending air-land fresh lanes to Macao and adding refrigerated barge service into Dongguan.

Low-altitude economy push: Macau and Hengqin are moving toward cross-border drone and low-altitude test flights, with the government outlining a trial-based roadmap and new technical rules aimed at fitting the “low-altitude economy” into Macau’s dense, safety-first environment. Urban planning for industry diversification: Macau’s draft amendment to the Urban Master Plan proposes a 2040 population forecast of 783,000 and a revised land area of 36.96 sq km, while carving out core areas for diversified industrial development tied to major projects like the Macau Science and Technology Research Industrial Park and the airport expansion. Cross-border payments for travellers: Visa launched a contactless transit payment pilot across Shenzhen Metro, letting eligible international visitors use foreign cards at gates—another step in Greater Bay Area integration ahead of APEC in Shenzhen. Tourism outlook update: PATA released a mid-year forecast projecting Asia-Pacific international visitor arrivals to reach 714.9m in 2026, 758.8m in 2027 and 789.2m by 2028, with growth increasingly dependent on innovation and adaptability. Macau retail pressure: A new analysis highlights how deeper GBA integration is reshaping Macau’s community economies, as locals increasingly shop across the border for cheaper options. Energy storage supply deal: Lineage Power (Pace Digitek) signed a 3 GWh LFP battery cell supply agreement with Rongjie Energy Tech, supporting its BESS manufacturing expansion and Guangdong-Hong Kong-Macao logistics. Corporate finance signal: Moody’s cut the outlook on Wynn Macau and other Wynn entities to “stable” from “positive,” citing still-elevated leverage. Automaker expansion: Li Auto opened its first Macao retail center with Hong Yue Group, localizing vehicle and connectivity features for cross-border users.

Urban Planning: Macau launches a public consultation on draft amendments to its Urban Master Plan (2020–2040), proposing tweaks to land use for three future large-scale projects and a population forecast of 783,000 by 2040 (down from 808,000), with total plan land area rising to 36.96 sq km. Tourism & Regional Cooperation: Macau hosts the 13th APEC Tourism Ministerial Meeting, with leaders pushing digital innovation and closer policy coordination for sustainable tourism across the Asia-Pacific. Cultural Retail: The Cultural Affairs Bureau’s Online Bookshop runs a July summer promotion with 20% off books (380+ titles) plus complimentary “The Firecracker Industry in Taipa” bookmarks while stocks last. Energy Storage & Industry Diversification: Pace Digitek’s Lineage Power signs a Master Supply Agreement for 3 GWh of LFP battery cells from Guangzhou Rongjie Energy Tech, supporting its BESS manufacturing for utility-scale and C&I projects. Aviation Logistics: China Southern Cargo orders Boeing 777-8F freighters (plus 777F), citing maturing cross-border e-commerce and Greater Bay Area/Belt and Road growth. Gaming Finance: Moody’s shifts outlooks for Wynn Macau and related Wynn entities from “positive” to “stable,” pointing to still-elevated leverage. Automotive Retail Expansion: Li Auto opens its first Macao retail center via Hong Yue Group, localizing vehicle and connectivity features for the market. Offshore Wind: China’s first 16-MW tension-leg platform floating wind turbine departs Zhuhai to supply renewable power directly to offshore oilfield operations in the South China Sea.

APEC Tourism in Macau: The 13th APEC Tourism Ministerial Meeting opened in Macau with a focus on “Digital Innovation, Collaborative Empowerment,” as delegates pushed travel facilitation and smarter, more connected tourism cooperation across the Asia-Pacific. Urban Planning & Industry Zones: Macau’s government released a draft amended Urban Master Plan, proposing new core areas for diversified industrial development and forecasting a population of 783,000 by 2040, while keeping tourism/entertainment zones free of industrial land. Energy Storage Supply Deal: Pace Digitek’s material arm Lineage Power signed a master supply agreement for 3 GWh of LFP battery cells with Guangzhou Rongjie Energy, supporting Lineage’s BESS manufacturing and long-term project execution. Automotive Expansion: Li Auto entered the Macao market via a first retail center with Hong Yue Group, completing local upgrades for vehicle glazing, connectivity, and cockpit functions to meet local requirements. Aviation & Logistics: China Southern became the first Chinese customer for Boeing’s 777-8F, ordering five 777-8Fs plus two 777Fs to support growing cross-border e-commerce demand in the Greater Bay Area. Research for Diversification: University of Macau plans four new research institutes (network of 11) to accelerate tech transfer and back industrial diversification, with two starting operations Aug 1. Road Safety: Macau police reported a sharp rise in red-light violations and related accidents/injuries in early 2026, warning drivers against assuming signal timing changes.

APEC Tourism in Macao: The 13th APEC Tourism Ministerial Meeting opened in Macao under “Digital Innovation, Collaborative Empowerment,” with delegates pushing stronger connectivity, policy coordination, and multi-destination travel to lift regional tourism. Smart Tourism & Policy Talk: Macau hosted both the ministerial gathering and the 67th APEC Tourism Working Group meeting, where officials discussed digital transformation, travel facilitation, and competitiveness, including Macao’s “tourism+” and smart tourism initiatives. University for Diversification: University of Macau said it will expand its research institute network to support tech transfer and economic diversification, including new smart city and AI/brain sciences institutes starting Aug 1. Cultural Heritage Angle: A local editorial argues Macau’s heritage works as both what tourists consume and what tourism itself has shaped over centuries. Floating Wind for the GBA: The world’s first 16-MW TLP floating offshore wind platform departed Zhuhai for the South China Sea, aiming to supply renewable power to offshore oil and gas operations and cut emissions. Macao Philatelic “Art Day”: “Macao 2026” stamp exhibition kicked off with “Art Day,” blending philately with street-art style workshops and seminars. Vehicle Retail in Macao: Li Auto entered Macao with its first retail center at Gold Island, localizing products for local regulations and customer needs.

APEC Tourism in Macao: The 13th APEC Tourism Ministerial Meeting opened in Macao on June 27 under “Digital Innovation, Collaborative Empowerment,” with delegates discussing sustainable tourism, travel facilitation and new Asia-Pacific cooperation paths. Local Tourism Capacity: Macao Chief Executive Sam Hou-fai used the welcome dinner to pitch the SAR as ready for deeper APEC exchanges and to help open new regional tourism avenues. APEC Working Group Prep: Ahead of the ministerial gathering, the APEC Tourism Working Group met in Macao, focusing on digital transformation, human capital, competitiveness and sustainable tourism, with Macao sharing its “tourism+” and smart tourism plans plus a 240-hour visa-free transit policy. Vehicle Retail Expansion: Li Auto officially entered the Macao market, opening its first retail center at Gold Island with localized product adaptations to meet local requirements. Gaming Workforce & AI Rules: A Macau lawmaker urged faster AI legislation, including clear legal definitions for robots and their rights/duties, warning that gaming and tourism automation is moving faster than reskilling. Employment Snapshot: Macao’s March–May 2026 employment survey showed local unemployment at 2.3% (unchanged) and underemployment at 2.4% (up 0.2 points). Regional Industry Signals: China’s major industrial firms reported profits up 18.8% in Jan–May, with manufacturing and mining both rising—an upbeat backdrop for regional supply chains.

APEC Tourism in Macao: The 13th APEC Tourism Ministerial Meeting opened in Macao with a focus on “Digital Innovation, Collaborative Empowerment,” as delegates discussed how visa facilitation and digital tools can boost Asia-Pacific tourism growth. APEC Working Group Prep: Ahead of the ministerial gathering, the APEC Tourism Working Group meeting in Macao tackled digital transformation, travel facilitation, human capital and sustainable tourism, with Macao highlighting its “tourism+” and smart tourism push plus a 240-hour visa-free transit policy. Local Tourism Leadership: Macao Chief Executive Sam Hou-fai said the SAR is ready for deeper APEC exchanges on sustainable tourism and new cooperation avenues, framing the event as a key part of “APEC China 2026.” Transport & Mobility Watch: Macao’s employment survey showed local unemployment at 2.3% (Mar–May 2026), with job seekers mainly from retail, construction and transport—useful context as the city’s tourism and gaming workforce adapts. AI & Automation Policy: A Macau lawmaker urged faster AI legislation, including clear definitions for robots and rules for rights and duties, warning that reskilling in gaming and tourism is lagging behind automation speed. Hospitality & Tech: Pudu Robotics and Shenzhen culture/tourism partners signed a deal to build a full-scenario robot-serviced hotel in the Greater Bay Area, signaling how robotics is moving from concept to real hospitality operations. Car Market Move: Li Auto opened its first Macao retail center at Gold Island, localizing vehicle glass, communications and smart cockpit systems to meet local requirements.

APEC Tourism in Macao: Macao is hosting the 13th APEC Tourism Ministerial Meeting after a 12-year gap, with the SAR saying it’s ready to deepen Asia-Pacific ties on sustainable tourism and digital innovation; ahead of the main gathering, the APEC Tourism Working Group meeting in Macao focused on travel facilitation, human capital, competitiveness and smart tourism, including Macao’s “tourism+” push and a 240-hour visa-free transit policy. Employment Snapshot: Macao’s unemployment rate for March–May 2026 held at 2.3%, while underemployment rose to 1.9%; jobless residents were mainly from retail, construction and transport, pointing to where hiring and reskilling may need to land. Gaming & AI Policy Push: A lawmaker urged faster AI legislation in Macau, calling for clear legal definitions for robots and rules for the gaming workforce as automation risks outpacing reskilling. Hospitality & Sustainability: Galaxy Entertainment Group highlighted EarthCheck certification upgrades across its hotel brands and MICE facilities, with Banyan Tree Macau reaching Platinum and Galaxy Hotel upgraded to Gold. Urban Planning & Transport Pressure: Lawmakers warned New Urban Zone A could overwhelm northern access if key connector works slip, urging summer construction and better pedestrian links. Regional Integration: The Guangdong-Macao In-Depth Cooperation Zone in Hengqin completed an institutional reform, bringing nine bureaus into operation to support deeper integration with Macao. Tourism Culture Events: “Stamp Day” kicked off Macao 2026’s specialized world stamp exhibition, blending philately with international cultural exchange.

APEC Tourism: Macao hosted the 67th APEC Tourism Working Group meeting, with delegates focusing on digital transformation, skills, travel facilitation, competitiveness, and sustainable tourism ahead of the 13th APEC Tourism Ministerial Meeting. Local Tourism Leadership: Chief Executive Sam Hou Fai used a welcome dinner to pitch Macao as a platform for deeper Asia-Pacific tourism cooperation, including multi-destination travel via the 240-hour visa-free transit policy. Employment Snapshot: Macao’s unemployment rate for March–May 2026 held at 2.3%, while underemployment rose to 2.4%, with job seekers mainly coming from retail, construction, and transport. Gaming & Hospitality: The 13 Hotel is relaunching as The 13 Palace after a HKD600 million acquisition, swapping a red exterior for gold and expanding dining and suite offerings. AI & Labor: A lawmaker urged faster AI legislation in Macau, calling for clear definitions of robots and rules for rights and duties as automation accelerates in gaming and tourism. Robotics in Hospitality: Pudu Robotics signed with Shenzhen Culture & Tourism to develop a full-scenario robot-serviced hotel in the Greater Bay Area. Sustainability in Hotels: Galaxy Entertainment Group reported EarthCheck upgrades, including Banyan Tree Macau reaching Platinum. MICE Momentum: Sands China said it has hosted over 12,800 MICE events since 2007, supporting Macau’s non-gaming diversification.

Macau Hospitality Reboot: The long-troubled Cotai luxury project formerly known as The 13 Hotel has been rebranded as The 13 Palace, with a gold exterior, 199 villa-style suites, and a limited trial run starting June 27—another push to revive Macau’s high-end accommodation market. Gaming & Tech Regulation: Lawmaker José Pereira Coutinho urged faster local legislation on AI, calling for clear legal definitions of “robots” and their rights and duties, warning Macau’s reskilling pace lags behind automation in gaming and tourism. Urban Mobility Pressure: Zone A lawmakers warned that new public housing and facilities could overwhelm northern access if the Zone A–Zone B connector tunnel faces delays, urging summer roadworks and better pedestrian links. Sustainability in Tourism: Galaxy Entertainment Group highlighted EarthCheck upgrades across its hotel brands and MICE venues, including Banyan Tree Macau moving to Platinum. Cross-border Travel Habits: A Visa study found GBA trips are getting shorter and more frequent, with Macau among the more visited destinations and digital wallets driving repeat travel. Regional Business Expansion: Paradise Entertainment said a Singapore regulator approved a Macau-based subsidiary as an “approved manufacturer,” aiming to accelerate regional growth. Industry Diversification via Research: University of Macau is ramping up Hengqin campus development, adding new science and tech faculties and research institutes to support industrial diversification.

Drug Policy & Public Health: A Macau psychologist warns UNODC’s World Drug Report launch comes as Macau faces a “hidden iceberg” of unreported abuse, with youth increasingly using e-cigarettes and private spaces that can slip past detection. Gaming & Compliance: Macau’s Paradise Entertainment says a Singapore regulator has granted its unit “approved manufacturer” status, aiming to speed up regional expansion and partnerships. Hospitality & Diversification: Sands China reports 15.7 million MICE visits since 2007, citing Cotai Expo and non-gaming push as Macau’s diversification engine. Sustainability in Tourism: Galaxy Entertainment Group highlights EarthCheck certification gains, including Banyan Tree Macau upgrading to Platinum and Galaxy Hotel to Gold. Urban Planning & Regional Links: CURB takes the presidency of the Greater Bay Area Urban Design Alliance for two years, positioning Macau at the center of GBA public-space and city-design collaboration. Education & Industry Upgrading: UM accelerates Hengqin campus development, planning 11 research institutes and new AI/smart-city units to translate lab work into industrial applications. Heritage & Risk: A fire gutted a listed heritage building on San Ma Lou, with authorities noting damage and funding pathways for affected historic sites. Cross-border Mobility: A Visa study finds GBA travel is shifting to shorter, more frequent trips, with digital wallets driving repeat movement and spending.

University & R&D Push: The University of Macau is stepping up industrial diversification with 11 research institutes and five new science-and-tech faculties, including AI and smart-city units set to start operations on Aug 1, aiming to move lab work into real-world applications. Education Expansion: Macao is also accelerating the Macao-Hengqin International Education (University) Town, with the first phase due to open in August for about 1,300 postgraduate students across three public universities, plus a “whitelist” recognition pilot to support more internationally oriented programs. Tourism & Heritage: Ahead of the 13th APEC Tourism Ministerial Meeting, Macao is leaning hard into its heritage-and-leisure positioning, with officials framing the city as a cultural crossroads that blends Chinese and Portuguese legacies. Safety & Heritage Protection: A smoky blaze at the San Ma Lou heritage ensemble has prompted guidance that fire-damaged historic buildings can apply for Cultural Development Fund support. Cross-border Payments Trend: Visa says Greater Bay Area travel is getting more frequent and shorter, with digital wallets driving both northbound and southbound spending and smoother payments tied to higher trip frequency. Gaming Real Estate: Macau’s failed ultra-luxury The 13 Hotel has rebranded as The 13 Palace after a creditor sale, with its next chapter likely tied to future casino-operator partnerships. Industry Tech Showcase: Huawei used MWC Shanghai to pitch AI-powered 5G-A upgrades and monetization ideas for telecom operators.

Cultural Heritage & Funding: Macau’s Cultural Affairs Bureau says fire-hit historic buildings like the San Ma Lou (Avenida de Almeida Ribeiro) blaze can apply for support under the Cultural Development Fund’s Historic Buildings Improvement plan, after firefighters battled a smoky early-morning incident that also affected nearby heritage sites. APEC Tourism Prep: Macau is gearing up for the 13th APEC Tourism Ministerial Meeting (June 24-28), with the opening ceremony set for Saturday and the Tourism Working Group meeting running today and tomorrow—another push to spotlight Macau’s heritage-led tourism model. Education & Talent Pipeline: The SAR is accelerating the Macao-Hengqin International Education (University) Town, with the first phase starting in August for about 1,300 postgraduate students and a second phase planned for 2029, aiming to attract international high-end talent. Cross-border Industry & Logistics: Guangzhou Baiyun Airport hit 10 million passenger trips this year (up 21% y/y), while freight volume topped 700,000 tonnes, supporting Greater Bay Area supply chains. Tourism & Hospitality: Macau’s “The 13 Hotel” has been renamed “The 13 Palace” after renovation, positioning 199 villa-style suites for a relaunch. Gaming Sector Watch: Morgan Stanley advises investors to stay cautious on Macau gaming stocks ahead of earnings, despite attractive valuations, citing slower GGR growth expectations. Tech & Telecom Showcase: Huawei at MWC Shanghai highlighted service-network-compute integration to help carriers monetize “tokens” and AI-driven network upgrades. Regional Safety Drill: Guangdong-Hong Kong-Macao authorities ran a marine rescue exercise simulating a ferry collision and fire risk in Macau coastal waters.