AGP Executive Report

Macau Fintech Push: Galaxy Macau and Ant Bank (Macao) opened a “Financial Services Station” at Taste of Asia, linking self-service banking, consultations, and account opening with the resort’s revamped membership plan, as the city drives “Tourism+” and modern finance under its 1+4 diversification strategy. Gaming Earnings Calendar: Melco and Studio City both set Aug 13 for Q2 2026 results, keeping investor focus on how operators are coping with softer demand. Corporate Performance Watch: Gravity reported Q2 2026 results with revenue down 5.2% YoY but operating profit up 40.2% YoY, citing momentum from Ragnarok titles in Taiwan, Hong Kong and Macau. Sci-Tech Park Governance: The CE chaired the first 2026 meeting of the Macao Sci-Tech Park working group, reviewing construction progress, investment promotion and design, and urging faster coordination to meet infrastructure timelines. Local Business Momentum: DSEC data shows 2,726 new company incorporations in H1 2026, a net increase of 2,181, with wholesale & retail and business services leading. Consumer Protection: IAM urged a stop-sell/stop-consume response for a specific “BONNE MAMAN” strawberry jam batch after Hong Kong and France flagged possible glass shards. Cross-border Trade: The 2026 Guangdong & Macao Branded Products Fair opened in Cotai Expo with 49 cooperation deals signed on day one, targeting sectors from big health to kitchen equipment. Regional Connectivity: A new Guangzhou–Shenzhen intercity rail link opened, enabling through services between Baiyun and Shenzhen Bao’an airports and adding stations across the Pearl River Delta. Security & Compliance: Macau’s GIF delegation attended the APG annual meeting in Brunei, sharing AML/CFT experience across nine agencies. Public Safety Incident: Macau Judiciary Police arrested a mainland man over attempted murder of his girlfriend and illegal weapon possession in Cotai. Market Headline Risk: Reports say Macau casino revenue fell in June and July, with analysts cutting 2026 gaming income growth forecasts amid Beijing’s capital outflow curbs.

Macao Economy Watch: Macau’s growth is barely moving, with Q2 2026 GDP up just 0.3% year-on-year and H1 growth at 3.7%, while the IMF expects around 3% medium-term—highlighting how much the city still leans on gaming and tourism services. Gaming & Finance: MGM China declared an interim dividend of HK$0.25 per share (50% of 1H26 profit), while Sands China earned “Great Place to Work” certification, underscoring both shareholder returns and workplace culture. MICE & Retail Push: The 2026 Guangdong-Macao Branded Products Fair opened in Macao with 49 signed deals on day one, and a first-store support scheme is helping new brands debut locally. Cross-border Money Markets: Guangdong issued RMB 2.5 billion offshore municipal government bonds in Macao, including green and “in-depth cooperation zone” themed tranches. Public Policy & Talent: The government is urging Macau residents abroad to return, backed by a new information platform covering jobs, startups, housing and re-entry steps. Building Maintenance: Macau approved MOP19 million in subsidies and MOP5.3 million in interest-free loans for building upkeep, as older-building maintenance needs remain large. Cyber & Crime Spillover: Hong Kong and Macau police continue to crack down on the “Fun Coffee” crypto scam, with losses now put at about HK$104 million in Hong Kong and over MOP3.6 million in Macau. Tech & Business: China launched a cybersecurity review into Palo Alto Networks products, while Macau-based AXPRO iVideo is being rolled out to Vietnam’s Palazzo Club as AI video intelligence expands beyond South Korea.

Macau Business & Economy: Wynn Resorts reported solid Q2 performance driven by Macau—Wynn Palace revenue rose 21.1% to US$653.4m and adjusted EBITDAR climbed to US$201.5m—while the group confirmed its UAE Wynn Al Marjan Island casino resort will now open in September 2027 and its budget has increased by about US$600m amid U.S.-Iran conflict-related cost pressures. Local Policy & Infrastructure: The Macau government approved 47 building maintenance subsidies (nearly MOP19m) and 90 interest-free loans (MOP5.3m) under revised schemes that raise caps and expand eligible works, as about two-thirds of Macau’s buildings are over 30 years old. Regional Trade & Business: The 2026 Guangdong and Macao Branded Products Fair opened in Macau with a record number of exhibitors (nearly 460) and nearly 10,000 products, themed around the “silver economy” and healthy living. Talent & Employment: Authorities reiterated efforts to bring Macau talent home for Greater Bay Area growth, including a new returnee information platform covering jobs, startups, housing, and re-entry procedures. Cross-border Crime & Consumer Risk: Hong Kong police updated losses from the “Fun Coffee” crypto scam to HK$104m, with Macau Judiciary Police reporting 264 claims and projected losses above HK$107.5m after joint raids and arrests. Innovation & Industry: Light & Wonder named industry veteran Mike Smith as Managing Director, Asia, relocating to Macau to lead regional growth.

Wynn Resorts Earnings & Macau Momentum: Wynn Resorts reported Q2 2026 operating revenue of US$1.86b and net income of US$140.1m, with Macau strength lifting Wynn Palace and Wynn Macau results, while Las Vegas demand stayed “solid” despite profitability headwinds. UAE Resort Timeline: Wynn confirmed Wynn Al Marjan Island will open in September 2027 after the U.S.-Iran conflict pushed up costs by about US$600m (around US$300m linked to war-risk insurance, rerouted supply chains and capitalised interest). Macau Public Security Leadership: The Macao SAR government appointed Ng Sou Peng as new Director of the Public Security Police Force for a one-year term, following the retirement of Ng Kam Wa. Cross-border Fraud Crackdown: Macau and Hong Kong police dismantled a “coffee investment” pyramid scam, arresting two women in Macau and linking to 225 Hong Kong cases worth at least MOP97m. Trade & Business Links: CE Sam Hou Fai met Fujian enterprises in Fuzhou to push Macao–Hengqin opportunities and economic diversification, while the fifth Fujian–Macao Cooperation Conference signed deals across tourism, culture, healthcare and education. Local Economy Boost: The ZAPE Consumption Festival will run Sept 11–19, offering MOP100 electronic vouchers to hotel guests to drive spending at about 300 local businesses. Gaming Supply Chain & Talent: Light & Wonder named Mike Smith Managing Director, Asia, relocating to Macau to lead regional growth and customer partnerships. Community & Culture: IAM launched a “World Animal Day” photo contest (submissions until Sept 11) promoting animal protection and healthy companionship.

Macau-Fujian Business Push: Chief Executive Sam Hou Fai met Fujian enterprises in Fuzhou, urging them to seize Macao and Hengqin opportunities as the SAR accelerates economic diversification and the Guangdong-Macao In-Depth Cooperation Zone. Cross-border Fraud Crackdown: Macau and Hong Kong police dismantled a “Fun Coffee” coffee investment scam, arresting two women in Macau and eight suspects across the border, with losses reported at HK$94 million (about MOP97 million). Gaming & Corporate Signals: Wynn Resorts reported 2Q26 results showing Macau strength, with operating revenues at Wynn Palace up 21% YoY, while the group set Wynn Al Marjan Island’s UAE opening for September 2027 and flagged a US$600 million cost increase. Fuel Market Pressure: China partially eased fuel export curbs, adding permits for refiners and raising regional competition pressures on Asian refining margins, with volumes including bonded cargoes linked to Hong Kong and Macau. Trade & Compliance: Hong Kong Customs, with Mainland and Macao counterparts, seized about 38,000 suspected counterfeit items worth around US$15 million, and also uncovered a separate river-trade smuggling case worth about US$4 million. Local Economy & Events: The 2026 Guangdong & Macao Branded Products Fair opens Aug 6 with a record 459 exhibitors and a heavy focus on silver economy and healthy living, while the ZAPE Consumption Festival will run Sept 11-19 with MOP100 vouchers for hotel guests. Public Administration: DSEC said 2026 Population By-Census data collection is underway, with online submissions open until Aug 10 and household visits continuing until Aug 15. Public Safety Leadership: The Macao SAR appointed Ng Sou Peng as new Director of the Public Security Police Force for a one-year term.

Wynn Macau momentum: Wynn Resorts said 2Q26 operating revenues at its Macau integrated resorts rose 13.7% YoY to US$1.0b, driven by higher win rates at Wynn Palace, while Wynn Macau’s revenues edged up 2.1% but EBITDA slipped. UAE expansion update: Wynn also set a September 2027 opening for Wynn Al Marjan Island and flagged a US$600m cost increase to about US$5.7b, citing regional disruption and higher material/shipping and financing costs. Fraud crackdown: Hong Kong–Macau police arrested eight over a HK$94m “Fun Coffee” investment scam using an “AI Smart Coffee Ecosystem” pitch and crypto app deposits; the scheme collapsed when the app went offline. Fujian–Macao ties: CE Sam Hou Fai met Fujian leaders in Fuzhou and attended the 5th Fujian–Macao Cooperation Conference, stressing deeper trade, finance, innovation, culture and tourism links. Local business fair: The 2026 Guangdong & Macao Branded Products Fair opens Thursday at Cotai Expo with a record 459 exhibitors and a silver-economy/healthy-living focus plus 80+ activities. Macau finance snapshot: AMCM reported M2 fell 1.7% MoM in June to 847.6b patacas, while deposits and private-sector loans also softened. Telecom reform: ExCo approved a new Telecommunications Law for legislative review, moving to technology-neutral network/service licences with no operator cap. Parallel trading crackdown: Macau plans tougher rules to criminalize organized parallel trading and penalize recruiters, amid rising border violation cases.

Macau Economy & Finance: Macau’s broad money supply (M2) slipped 1.7% month-on-month to 847.6 billion patacas in June, while M1 also eased as currency in circulation and demand deposits fell, according to AMCM. Gaming Watch: Macau casino gaming revenue fell 8% in July to MOP20.26 billion, with FIFA World Cup disruption still weighing on demand, but analysts expect a rebound in August and stronger momentum in September. Policy & Regulation: Macau is moving to tighten laws on parallel trading, with organized cargo-splitting and false declaration schemes set to face criminal or minor-offense treatment, plus harsher penalties for recruiters. Telecom Reform: The Executive Council approved a new Telecommunications Law for legislative review, replacing the old tender-based access with technology-neutral network and service licences and no cap on operator numbers. Jobs & Social Needs: A union survey found 43% of respondents faced job-seeking difficulties, mainly from limited experience and skills mismatch; separately, a transitional housing project in Kwun Tong will add 121 units under a HK$66.55m subsidy scheme. Cross-border Payments: Project mBridge is expanding practical use, with Industrial Bank launching mBridge cross-border payments with Macau and completing a 500 million yuan transfer for an equity acquisition. Food Safety: IAM reported 98.9% of food samples passed Q2 safety tests, with eight non-compliant items already handled. Business & Tech: Pathos AI signed major oncology licensing deals—$125m upfront and up to $2.09b milestones—with Alphamab Oncology for a TROP2/HER3 bispecific ADC, and also partnered with AstraZeneca on a breast-cancer PROTAC degrader.

Macau Economy & Finance: The Monetary Authority of Macao reported June broad money (M2) fell 1.7% month-on-month to MOP847.6 billion, with resident deposits down 1.7% and domestic private-sector loans down 0.7%, while non-resident deposits rose 11.6%. Food Safety: IAM said 98.9% of 775 food samples passed Q2 microbiological and chemical tests, with eight non-compliant items already handled, including products linked to lead and specific bacteria. Gaming Outlook: Seaport Research Partners expects Macau GGR to rebound in August (+4.5% y/y) after World Cup and weather-hit July, while J.P. Morgan is more cautious. MGM China Update: MGM China’s Q2 revenue was broadly flat but margins narrowed to 23.3% as a higher branding license fee weighed on earnings; management said Macau share rose to 16.4%. Diversification & Tourism: MGTO will roll out community photo walkways using original Macau tourism IP in ZAPE and San Kio next month. Business & Talent: UM opened applications for 2027/28 and launched five new science/tech faculties plus two research institutes to support innovation and diversification. Labour Market: Gung Luen’s employment survey found 43% of respondents faced job-seeking difficulties, citing too few vacancies and limited career options. Transport & Regulation: The government reiterated it will submit a bill this year to regulate taxi-based online ride-hailing and platforms. Corporate Appointments: MGM China named Jeny Lau as CFO from Aug 1. Sports Media: M Plus Sports Media secured exclusive Macau rights for Japan’s J.League (2026-2029).

Macao Diversification Spotlight: iRad Hospital at Studio City was featured on CNN’s “Meanwhile in Asia,” highlighting Macao’s push into medical and wellness tourism beyond gaming. Gaming Market Outlook: Seaport Research expects Macau GGR to rebound in August (+4.5% YoY) and rise further in September (+11% YoY), citing post-World Cup demand returning. MGM China Earnings Watch: MGM China reported broadly flat 2Q revenue but margin pressure as a higher MGM branding license fee weighed on profits; CEO Kenneth Feng said the company is ready for evolving customer expectations and continues premium upgrades. Tourism Walkways & IP: MGTO will roll out themed community photo walkways next month in ZAPE and San Kio, using original Macau tourism IP to drive “ticket stub economy” spending. Transport Regulation Update: CE Raymond Tam said a bill to amend Macau’s taxi law—covering online ride-hailing platforms—will be submitted to the Legislative Assembly before year-end. University & Talent Pipeline: UM opened five new science/tech faculties and two research institutes for 2027/28, aiming to support innovation and Macao’s economic diversification. Finance Snapshot: AMCM data showed M2 fell 1.7% in June to MOP847.6b, with resident deposits and private-sector loans both down month-on-month. Cross-border Business & Innovation: Melco hosted a tech industry-academia matching event at Studio City with local enterprises and research teams to co-create solutions for non-gaming operations.

University Expansion: The University of Macau (UM) has launched five new science and technology faculties and two research institutes, starting operations today, to boost innovation capacity and support Macau’s economic diversification. Taxi Regulation Push: Transport Secretary Raymond Tam says the government will submit a bill before year-end to amend the taxi law, aiming to formally regulate online ride-hailing services and platforms. Gaming Outlook: Seaport Research expects Macau’s GGR to return to growth in August and September, citing a post-World Cup rebound, while J.P. Morgan remains more cautious on how sustainable the pickup is. E-Payment & Digital Currency: Macau Business highlights how e-MOP could better serve elderly, children and tourists, while another piece argues digital currency adoption is still in testing but could reshape casino payments. Trade & Growth Data: DSEC reports Macau’s H1 external merchandise trade rose 24.6% to MOP82.5bn, and GDP grew 3.7% year-on-year in real terms, driven by expanding service exports and visitor arrivals. Corporate Appointments: Manulife Hong Kong and Macau promotes Carrie Tong to Chief Distribution Officer to accelerate growth across channels. Innovation Matching: Melco hosted an industry-academia-research reverse matching event at Studio City to co-create tech solutions for non-gaming development.

University & Innovation: The University of Macau launched five new science and technology faculties and two research institutes, including Medicine, Engineering, Information Science and Computing, Smart City Technologies, and an AI and Brain Sciences institute, as part of a push to support Macao’s economic diversification and Greater Bay Area talent needs. Macau Economy Watch: DSEC prelim data show Macao GDP up 3.7% year-on-year in real terms in H1, driven by expanding services exports and visitor arrivals; unemployment among residents edged up to 2.4% (Apr–Jun). Trade & Payments: External merchandise trade rose 24.6% to 82.5 billion patacas in H1, while electronic payment activity in June showed retail trade transaction value up 7.3% and restaurant spending slightly down 0.2% year-on-year. Public Services & Privacy: From Aug 15, Family Medicine Clinic appointment bookings will only accept calls with caller ID to better protect patient data and reduce impersonation risks. Cross-border Mobility: China issued new rules to tighten overseas travel risk prevention and exit-entry application requirements, effective Sept 15.

Macau Economy Watch: DSEC says Macau’s GDP rose 3.7% year-on-year in real terms to MOP209.89 billion in H1, with growth driven by a 7.2% jump in exports of services as visitor arrivals increased. Trade & Payments: External merchandise trade climbed 24.6% to MOP82.5 billion in H1; imports rose 24.6% to MOP74.3 billion and the trade deficit widened to MOP66.1 billion. Separately, electronic payment transaction value for restaurants & similar establishments edged down 0.2% in June, while retail trade rose 7.3%. Cross-border Mobility: Hong Kong’s Transport Department will open 1,400 regular HZMB quotas for Macao from Aug 7, including “open quotas” and quotas with eligibility criteria. Public Services & Privacy: From Aug 15, Hospital Authority family medicine clinic appointment bookings will only accept calls with caller ID to better protect patient data. Policy & Regional Links: CE Sam Hou Fai will visit Fujian for the 5th Fujian-Macao Cooperation Conference, with a briefing session aimed at boosting opportunities for Fujian-based firms. Gaming & Business Ecosystem: BMM Testlabs will exhibit at AGE 2026 in Sydney, while S&P flags Macau and Singapore as among Asia-Pacific’s safest gaming bets for investors. University & Talent: UM starts five new science/tech faculties and two research institutes to deepen tech and innovation capacity.

Macau Economy Watch: DSEC prelim data show Macau GDP up 3.7% y/y in real terms to MOP209.89b in H1, led by 7.2% growth in exports of services as visitor arrivals rose. Trade & Payments: External merchandise trade climbed 24.6% y/y to MOP82.55b in H1, with a deficit of MOP66.12b; meanwhile, electronic payment value for retail trade rose 15.6% y/y in H1, while restaurants were up 1.7%. Cross-border Mobility: Hong Kong’s Transport Department opens 1,400 regular HZMB quotas for Macao from Aug 7, aiming to better use bridge capacity and ease cross-boundary travel. Healthcare Privacy: From Aug 15, Hospital Authority family medicine clinic appointment booking will only accept calls with caller ID to strengthen patient data protection. Digital Currency & Tourism Tech: A Macau Business magazine feature argues e-MOP could help break e-payment stagnation, while another report says Macau’s tourism is strong but international visitors still face payment friction. Education & Innovation: UM starts operations for five new faculties and two research institutes focused on tech and innovation. Industry & Hospitality: Wynn Macau and Wynn Palace hosted Asia’s 50 Best Bars 2026 for the second straight year, with Hope & Sesame taking top honours. Food Safety: IAM reports Q2 sampling found 8 failed food samples out of 775.

Macau Economy: DSEC says Macau GDP grew 3.7% year-on-year in real terms to MOP209.89 billion in H1 2026, with service exports up 7.2% as visitor arrivals rose. Trade & Retail Pulse: External merchandise trade climbed 24.6% to MOP82.55 billion in H1; imports rose 24.6% to MOP74.33 billion and the trade deficit widened to MOP66.12 billion, while electronic payments show restaurants slightly down in June (-0.2% YoY) but retail up (+7.3%). Cross-Border Mobility: Hong Kong’s Transport Department opens 1,400 regular HZMB-to-Macao private car quotas from Aug 7, mixing eligibility-based and “open quotas” for work, business and family travel. Gaming & Finance Leadership: MGM China appoints Jeny Lau as CFO from Aug 1, as the operator reports 2Q26 revenues of HK$8.63 billion. Health & Privacy: From Aug 15, Family Medicine Clinics’ phone booking will only accept calls with caller ID to protect patient data and curb impersonation. Population Survey: Macau’s 2026 by-census starts door-to-door Aug 1-15 for non-responders, with online submission encouraged by Aug 10. Tourism & Events: Galaxy Macau rolls out “Where Summer Comes to Play” with Formula 4 simulators and shopping rewards, while Wynn Macau and Wynn Palace host Asia’s 50 Best Bars 2026 for a second straight year. Food Safety Watch: IAM reports Q2 sampling found 8 failed tests out of 775 food samples, prompting follow-ups on hygiene and compliance.

Macau Economy Watch: DSEC says Macau’s GDP for 1H2026 rose 3.7% year-on-year in real terms to MOP209.89 billion, driven by a 7.2% jump in service exports and a 9.0% rise in visitor arrivals; private consumption grew 2.8%, while government spending and investment both softened. Jobs & Pay: The unemployment rate for Apr–Jun 2026 edged up to 2.4% (+0.1pp) as more fresh graduates entered the market; median monthly earnings were MOP20,500 for employed residents. Payments & Trade: June electronic payments showed retail trade up 7.3% year-on-year, while restaurant spending dipped 0.2%; for 1H2026, merchandise exports climbed 24.0% to MOP8.22 billion, but the trade deficit widened to MOP66.12 billion. Healthcare Privacy: From Aug 15, Family Medicine Clinic appointment bookings will only accept calls with caller ID to better protect patient data and prevent impersonation. Cross-Border Mobility: Hong Kong private-car quotas to Macao via HZMB reopen for application from Aug 7, with 1,400 regular quotas available. Policy & Industry Links: Macau and MIIT signed a cooperation agreement to support “new quality productive forces” and back the Macao Science and Technology Research Industrial Park. Tourism & Culture: IC and ID unveiled a full August cultural and sports calendar, including a new weekend “Macao Historical Exploration Tour.” Business & Hospitality: Wynn Macau and Wynn Palace hosted Asia’s 50 Best Bars 2026 for the second straight year, reinforcing Macao’s position as a gastronomy hub.

Macao Economy Outlook: The IMF says Macao remains resilient and projects 3.3% growth in 2026, citing strong fiscal and external positions and a well-capitalised, liquid financial system. Gaming Finance & Leadership: MGM China appointed Jeny Lau as Chief Financial Officer from 1 August 2026, as the operator reported 2Q26 revenues of HK$8.63 billion, largely flat year-on-year. Mainland-Macao Industrial Ties: CE Sam Hou Fai met MIIT Vice Minister Xiong Jijun and witnessed a cooperation agreement to support Macau’s “new quality productive forces” and technology-driven diversification, anchored by the Macao Science and Technology Research Industrial Park. RMB Bond Market Boost: AMCM said Guangdong will issue RMB 2.5 billion offshore provincial bonds in Macau next month for the sixth straight year, including green, blue and Hengqin-themed specialised bonds. Food Safety Crackdown: Macao authorities ordered removal and recall of a Frisolac Prestige infant formula batch after lead levels exceeded legal limits, expanding sampling to check for wider contamination. Community & Corporate Social Responsibility: Sands China and Macau Red Cross distributed 1,500 disaster-prep emergency kits to local schools, while Galaxy ran a volleyball outreach series tied to its “Sports for Good” programme. Public Transport: DSAT added weekend and seasonal bus services to handle summer demand, and a lawmaker urged stronger safety and driver wellbeing measures.