Macao Mobile Payments Rise in Q2 Amid Credit Card Decline

Macao's mobile payment transactions increased by 8.4% in Q2, reaching 98 million transactions, with a total transaction value of 8.1 billion patacas (approximately $1 billion). Credit card turnover declined by 0.1% to 5.9 billion patacas, while the number of credit card transactions grew 6.3% to 12.5 million. Repayments, including interest and fees, fell by 6.3% to 5.7 billion patacas.

Macao's gaming industry continues to show signs of recovery, with total gross gaming revenue for "Game of Chance" rising by 8.3% year-over-year (YoY) in the second quarter (Q2) of 2025, reaching MOP 61.12 billion [1]. Notably, VIP Baccarat revenue increased by 23% YoY to MOP 16.33 billion, the highest level since Q4 2019. This robust performance is attributed to a rebound in tourist arrivals and hotel occupancy rates, supported by the Macao government's efforts to attract new international tourists [1].

Wynn Macau, one of the leading gaming operators in Macao, has demonstrated a notable financial recovery since 2023, driven by the rebound in tourism. The company's revenue rebounded to 80% of its 2019 level by the end of 2024, reaching HKD 28.74 billion, reflecting a YoY increase of 18.4% [1]. However, market sentiment was cautious at the start of 2025, with Wynn Palace and Wynn Macau reporting a decrease in operating revenue in the first quarter (Q1) [1].

Despite the cautious start, strong holiday traffic during the Labor Day and Dragon Boat Festival periods drove a better-than-expected recovery in Q2. The company's revenue is projected to reach USD 933 million for Q2 2025, marking a 5.5% YoY increase [1].

Wynn Macau's financial performance is heavily influenced by foot traffic, with casino operations remaining the core revenue driver. However, the company is actively diversifying its revenue streams through non-gaming businesses, such as hotels, dining, retail, and entertainment. The company's non-gaming strategy focuses on offering world-class entertainment experiences, with plans to develop a modern convention and exhibition center and a major theater and performance venue [1].

Macao's mobile payment transactions increased by 8.4% in Q2, reaching 98 million transactions, with a total transaction value of 8.1 billion patacas (approximately $1 billion) [1]. Credit card turnover declined by 0.1% to 5.9 billion patacas, while the number of credit card transactions grew 6.3% to 12.5 million. Repayments, including interest and fees, fell by 6.3% to 5.7 billion patacas [1].

The capital markets are increasingly bullish about Macao's gaming business, with forecasts anticipating 6% growth in gross gaming revenue in the second half of the year, and full-year revenue expected to grow 4%, well above the 0.5% forecast by the Macao government [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/12/3131480/0/en/MoonFox-Data-Analysis-of-Wynn-Macao-Q2-Financial-Report-Gaming-Rebounds-Ahead-of-Expectations-Revenue-Projected-at-USD-933-Million.html