AGP Executive Report

Gaming Finance: Macau Legend says it’s still in talks with lenders to extend loan repayments after warning it may not meet obligations, despite turning Adjusted EBITDA positive in 1H26; it reported a HK$136.8m loss and has just HK$37.9m cash against HK$2.39b in borrowings due within 12 months. Corporate Earnings: Melco’s parent posted 2.7% higher net revenues to HK$20.5b in 1H26, but profit fell 11.8% as costs rose; no interim dividend declared. Weather Watch: The Meteorological bureau raised Standby Signal No.1 for Typhoon “Saudel”; Strong Wind Signal No.3 is a “medium” chance for daytime Sept 1, with blue storm surge warning low. Economic Diversification: Government set up the operating system for a “guidance fund” to steer “patient capital” into emerging industries, targeting MOP11b from fiscal reserve returns and aiming for a MOP20b scale with private capital. CE Diplomacy: Chief Executive Sam Hou Fai met Singapore PM Lawrence Wong and other ministers during his SEA trip, pushing deeper cooperation tied to China’s 15th Five-Year Plan and Macau’s Third Five-Year Plan. Tourism & Culture: DSEC reported 8.36m hotel guests in Jan–July (down 1.4%), while MCF22 returned to Macau Tower with nearly 100 anime and fan groups. Sports & Community: Senior Sports Games kick off Sept 13 at Tap Seac, with home-exercise activities for older residents.

Macao-Singapore push: Chief Executive Sam Hou Fai is in Singapore for an eight-day trip, calling on Singapore PM Lawrence Wong and other ministers to deepen practical cooperation and back Macao’s Third Five-Year Plan, with business representatives from Macao and Hengqin in tow. Economic diversification plan: Macao will set up a “guidance fund” to back non-gaming projects using “patient capital,” aiming to steer social funds into emerging industries with long-term returns. Hengqin education ties: The Education and Youth Bureau outlines the 2026/27 education landscape, while UTM welcomes 200+ postgraduates for “dual-city learning” at the Macao-Hengqin University Town. Weather watch: Severe weather warning probabilities were published, including a medium chance of Typhoon Signal No.3 on Sept 1 morning. Trade and compliance: A US transshipment crackdown raises the compliance burden for exporters, with more documentation and scrutiny across supply chains. Local governance and culture: Macau’s Public Library launches the 43rd “Books and the City” issue, and IC announces a Sept 15 exhibition on “Ancient China in Creative Products.” Business and finance: MSAR accounts show a 2025 surplus of about MOP166.4 billion, driven by a larger services account surplus.

Gaming & Finance: Macau’s Paradise Entertainment plans to restart its US push via supplier arm LT Game after a HK$82.6m (US$10.5m) 1H26 loss, while Success Universe reported a HK$52.9m (US$6.75m) loss tied to the closure of its Ponte 16 satellite casino and said loan talks are under way. Public Safety & Health: Customs seized 950kg of frozen beef worth about 30,000 patacas in a parallel-trading raid, with storage found at room temperature. Local Governance & Society: CE Sam Hou Fai met Singapore’s health and social-policy minister during a SEA trip, focusing on public health, TCM and ageing; a filial piety event also rolled out services and health checks for seniors. Culture & Arts: MAM opened a Qing Dynasty Guangdong paintings show; MAS marked 70 years with an exhibition at Sands; CREATIVE MACAU launched its “PRESENT” anniversary show. Tourism & Hospitality: Hotel Lisboa will unveil its renovated West Wing in September. Sports: UFC Shanghai’s main event saw Song Yadong stun Umar Nurmagomedov with a knockout.

CE diplomacy and ageing health ties: Chief Executive Sam Hou Fai met Singapore’s Ong Ye Kung in Singapore, discussing cooperation on public health, traditional Chinese medicine and governance for ageing societies, as Macao prepares for an eight-day SEA trip. Hengqin integration push: Coverage highlights how Hengqin is being used as the space and platform for Macao’s diversification, including tech and lab-to-market ambitions under the Guangdong-Macao In-Depth Cooperation Zone. Macao tourism snapshot: DSEC data says July hotel occupancy rose to 91.6% year-on-year, but total guests fell 4.3%, with mainland and Hong Kong visitors down while international guests increased. Baccarat advantage-play risk: A study warns AI-assisted baccarat side-bet advantage play is spreading across Asia, squeezing operator win rates and proving hard to detect. Public safety travel warning: MAC advised caution for “high-risk nationals” traveling to China after a reported long interrogation case. Disaster solidarity: Macao will donate RMB30 million to support Tibet mudslide relief, with medical rescue teams also planned. Sports with Macau link: UFC Shanghai’s main event features Song Yadong, who fought in Macau in May, as fans react to a major upset.

Hengqin–Macao Integration: A Xinhua report says Hengqin’s 106 sq km scale and the Guangdong–Macao In-Depth Cooperation Zone are giving Macao room to diversify, with research-to-industry platforms like the Macao Institute of Materials Science and Engineering helping turn lab work into products. Local Diplomacy: Chief Executive Sam Hou Fai is in Singapore, starting an eight-day trip to Singapore, Indonesia and Malaysia to push the Third Five-Year Plan (2026-2030), attract international resources, and deepen ties via talent, research and traditional Chinese medicine. Tourism Numbers: DSEC data shows Macau hotel occupancy rose to 91.6% in July, but total guests fell 4.3% year-on-year, with international visitors up. Public Integrity Visit: CCAC’s Ao Ieong Seong led a delegation to Foshan, Zhongshan and Hengqin to learn from integrity education efforts. Humanitarian Aid: Macao will donate RMB30 million to support Tibet mudslide relief after a disaster affecting Gyirong County. Sports & Culture: UM hosted an international public speaking championship, while a Macau-linked UFC spotlight continues to dominate regional MMA talk.

Local Diplomacy: Chief Executive Sam Hou Fai has departed for an eight-day Singapore–Indonesia–Malaysia trip to push Macao’s Third Five-Year Plan, attract international resources, and strengthen “Go North, Down South, Move West, Navigate East” links with Southeast Asia. Disaster Solidarity: The Macao SAR government will donate RMB30 million via the Macao Foundation to support Tibet mudslide rescue and recovery in Gyirong County, with medical teams and other assistance also planned. Tourism Numbers: Macao’s hotel occupancy edged up to 91.6% in July, but total guests fell 4.3% year-on-year to about 1.23 million, while international visitors rose. Integrity & Governance: Commissioner Against Corruption Ao Ieong Seong led a delegation to Foshan and Zhongshan and visited the Guangdong–Macao Hengqin cooperation zone to learn about integrity education efforts. Business & Finance: UBS reiterated a Buy on Wynn Macau, while separate filings highlight Macao’s 2025 balance of payments showing a current account surplus. Sports (Macao link): UFC Shanghai’s bantamweight spotlight features Song Yadong, who previously fought in Macau, as the event streams via Paramount+.

Greater Bay Area Tech Push: A Xinhua report says Hong Kong and Macao researchers are increasingly teaming up with Guangdong cities like Dongguan, where new research facilities and policies are helping firms and universities access talent and equipment faster. Tourism Numbers: Macao’s hotel occupancy in July edged up to 91.6% year-on-year, but total guests fell 4.3% to about 1.23 million, with international visitors rising 9.5%. Anti-Corruption Exchange: CCAC Commissioner Ao Ieong Seong led a delegation to Foshan and Zhongshan and visited the Guangdong-Macao In-Depth Cooperation Zone in Hengqin to learn about integrity education building. Smart Grid Talent: UM held a forum in the Macao-Hengqin University Town on smart grid development and talent strategies, launching a Master’s intake for smart power grid students. Macao Economy Watch: AMCM released 2025 balance of payments preliminaries showing a current account surplus, while Q2 2026 composite interest rates for Macao pataca and HK dollar dipped slightly. Gaming Business: International Entertainment Corp reported FY2025/26 interim revenue up 50.6% to HK$852.5m, with gaming revenue rising while hotel revenue was hit by renovations.

Anti-Corruption & Integrity Education: Macau’s Commissioner Against Corruption Ao Ieong Seong led a CCAC delegation to Foshan, Zhongshan and the Guangdong-Macao Hengqin cooperation zone to study how integrity education is built and implemented. Smart Grid & Talent Pipeline: UM held a smart grid forum in the Macao-Hengqin education town, launching a Master’s intake for its Smart Power Grid programme and focusing on energy transition, AI in training, and next-gen power control. Tourism Push to Southeast Asia: MGTO is backing destination branding with multilingual mini drama series filmed across Macao, plus a travel trade delegation to Singapore, Jakarta and Kuala Lumpur for tourism cooperation and industry matchmaking. Macau Economy Snapshot: DSEC data showed July electronic payments rising in restaurants (+3.1% y/y) and retail (+6.3% y/y), while hotel occupancy hit 91.6% and unemployment stayed at 2.4% (May–July). Gaming Sector Pressure: CBRE reports SJM cut staff by 10% amid satellite casino closures, with margins still under strain. Hengqin Transport: Authorities say the Hengqin high-speed rail station project is set to start construction this year.

AI in Finance: AXA Hong Kong and Manulife Hong Kong were picked for Hong Kong’s GenA.I. Sandbox++ to test regulated uses of generative AI, from claims support to AI governance and cyber-risk controls. Gaming & Business: Wynn Macau declared a higher interim dividend after a big jump in 1H26 profit, with mass-market gaming and slots both up. Public Health: The Health Bureau and Kai Fong rolled out a mobile mental health service vehicle, bringing info, counselling and referrals directly to neighbourhoods. Security & Privacy: Police arrested a mainland male student for taking photos in a university ladies’ toilet, charging him over invasion of privacy. Governance: The government announced plans to restructure and merge several entities to save resources and streamline responsibilities. Hengqin Logistics: Macau International Airport’s Hengqin Upstream Cargo Terminal handled its first pilot shipment, moving closer to “Hengqin pickup, Macau flight” operations. Culture & Tourism: The 34th Macau International Fireworks Display Contest returns Sept 12 with drones joining fireworks for the first time, plus a new shuttle for a “Macau Historical Discovery Tour.” Sports & Community: The CE presented MSAR flags to local teams for the Asian Games and Asian Para Games in Aichi-Nagoya.

Macau-Hengqin Integration: Macau International Airport’s Hengqin Upstream Cargo Terminal handled its first pilot air-cargo shipment, marking “substantive progress” toward the planned official opening next year, with a “Hengqin pickup, Macau flight” model and a designed annual capacity of 300,000 tonnes. Public Administration Reform: The government announced mergers and restructuring of several entities and bureaus to save resources and boost efficiency, including combining the Consumer Council and FDCT into the Economic and Technological Development Bureau and moving the Macao Conservatory under the Education and Youth Development Bureau. Tourism & Events: The 34th Macao International Fireworks Display Contest (Sept 12–Oct 4) will debut large-scale drone shows alongside fireworks, with 3,400 drones in two featured nights. Gaming Outlook: Investment banks cut August Macau GGR forecasts after softer daily revenue, though analysts expect concerts and events to support the market. Community & Culture: IC launched a “Macau Historical Discovery Tour” with free weekend shuttle buses and historical character performances, while MICAF announced a three-day summer stamp-collection activity with family-friendly prizes.

Government Reshuffle: The Executive Council approved new administrative regulations taking effect Sept. 1, merging and streamlining public entities to cut costs and staff, including moving the Macao Conservatory from IC to DSEDJ and merging the Consumer Council and FDCT into DSEDT. Fireworks + Drones: MGTO says the 34th Macao International Fireworks Display Contest runs Sept. 12–Oct. 4, adding large-scale drone shows (over 3,400 drones) for the first time, themed “Set Sail for Macao, where the Silk Road Sparkles.” Hengqin Cargo Push: Hengqin Upstream Cargo Terminal began pilot air-cargo palletizing with a first shipment and flight, using joint “one lock” supervision and full cargo traceability, with construction targeting completion/acceptance in Q1 2027. Drug Dependency Update: IAS reported 88 drug dependency cases in H1 2026, up 3.5%, with “Ice” still the most used substance and alcohol linked to over half of cases. Tourism + Culture: IC will launch a free “Macau Historical Discovery Tour” shuttle from Ruins of St. Paul’s and Rua do Cunha with weekend character performances, plus a MICAF summer stamp-collection activity at CCM Plaza and Anim’Arte NAM VAN. Gaming Watch: Investment banks trimmed August GGR forecasts as daily revenue softened, though analysts expect concerts to support the rest of the month.

Tourism & Events: The MGTO has unveiled the 34th Macao International Fireworks Display Contest, running 12 September to 4 October, with fireworks plus drone shows and a “Set Sail for Macao, where the Silk Road Sparkles” theme. Public Health: Hong Kong authorities say no children showed signs of lead poisoning after an infant formula scare linked to Macau’s earlier alert, with hundreds of babies assessed and results reported as overall good health. Hengqin & Logistics: Hengqin’s Guangdong-Macao In-Depth Cooperation Zone rolled out incentives to boost Macau’s air cargo role, including subsidies for freight forwarders using the Macau International Airport Hengqin upstream cargo terminal through 2028. Local Governance & Safety: PSP fined 82 people MOP300 each for unlawful pedestrian road crossings in Macau. Business & Finance: Melco Resorts Finance will redeem USD600 million of 5.625% notes on 23 September, nearly 10 months early. Sports: Macau’s Fong Shan Hong and Chiu Lucio Marcelino won silver in doubles at the Asian Junior Bowling Championships in Jakarta.

Hengqin–Macau Air Cargo Push: The Guangdong-Macao In-Depth Cooperation Zone in Hengqin rolled out incentives to boost Macau’s air cargo hub role, including RMB1/kg subsidies (cap RMB5m) for eligible freight forwarders using the Macau International Airport Hengqin Upstream Cargo Terminal, plus support for handling fees, warehouse rentals, and facility operating costs through Dec. 31, 2028. Judicial & Residency Updates: Courts upheld residence permit revocations tied to sham marriages, with the Court of Final Appeal affirming that permits obtained through criminally fraudulent marriages are null and void. Public Health: SSM confirmed one imported mpox case involving a young male resident; he’s in stable condition and cohabitants will be vaccinated. Crime & Safety: PJ arrested a mainland fruit shop owner for robbing a sex worker after strangling and threatening her; separate police action fined 82 people for unlawful pedestrian road crossings. Local Economy & Policy: Business groups urged faster urban renewal and stronger redevelopment incentives, citing property ownership bottlenecks in older districts ahead of the 2027 Policy Address. Transport: DSAT will introduce maximum parking fees at seven car parks from Sept. 2, including a 24-hour cap model at the Macau Science Center Car Park and half-hour charges to improve turnover. Gaming Market Watch: J.P. Morgan said Wynn Macau led Macau concessionaires in June quarter market share, while Sands China slid.

Macao Policy Watch: The government has opened a one-month public consultation on the 2027 Policy Address (Aug 24–Sep 23), inviting residents to submit views via Macao One Account, hotline, email, fax and mail. Urban Renewal & Property: Local business groups urged faster redevelopment of older districts, saying property ownership bottlenecks and weak incentives are slowing renewal and leaving commercial vacancies and industrial buildings unaddressed. Transport & Cost Changes: DSAT will adjust fees at seven public car parks from Sept 2, including maximum-fee caps and a half-hour charge model at Praça de Ferreira do Amaral and Macau Science Center to improve turnover. Gaming & Enforcement: PJ arrested six mainland suspects over a casino livestream betting scheme, while a Macau table survey by Citi found premium-mass momentum returning in August as premium players wagered more and mass entry bets fell. Public Safety & Crime: The Correctional Services Bureau’s 2025 report says fraud topped offences among 1,230 inmates. Business & Cross-border Links: IPIM ran promotion seminars in Shenzhen and Guangzhou for Macao’s Third Five-Year Plan, drawing nearly 300 enterprise representatives and more than 150 business talks. Weather: SMG says tropical cyclone risk remains low, but thunderstorms are expected more often this week.

Urban Renewal Push: Macau’s business sector is urging stronger incentives to speed up redevelopment in older districts, saying property ownership bottlenecks and slow urban renewal are still holding back revitalisation and leaving commercial vacancies and industrial buildings needing urgent attention. Parking Fees Update: From Sept. 2, seven public car parks will introduce maximum parking fee caps, with some also shifting to half-hour charges to improve turnover and make public parking easier to use. Gaming Crime Crackdown: The Judiciary Police arrested six mainland Chinese suspects accused of secretly livestreaming casino games and taking bets remotely, with authorities seizing phones, altered bags and cash/vouchers. Weather Watch: Tropical Cyclone Narra has moved farther from Macau, but the SMG warns thunderstorms will become more frequent this week due to a low-pressure trough and active monsoon. Jobs & Training: DSAL and the Macau Federation of Trade Unions will run five job-matching sessions in early September, offering nearly 400 openings across sectors including security, tourism and transport. Policy Roadmap: The government is briefing associations on the 2027 Policy Address, aligned with the 3rd Five-Year Plan, and has launched a one-month public consultation starting Aug. 24. Public Safety: PJ reported a local woman lost about 1.9 million patacas in a “fake police” scam, while PSP said 86 suspected illegal workers were detained in July. Economy Snapshot: DSEC reported Macau’s economy grew 3.7% in real terms in 1H26, led by tourism and gaming services.

Policy Consultation: Macao’s Government Information Bureau has opened a one-month public consultation on drafting the 2027 Policy Address, running 24 Aug to 23 Sep, with residents invited to submit views via the Macao One Account app/website, hotline, email, fax or mail. Transport & Hengqin Integration: In the 3rd Five-Year Plan, Transport and Public Works Secretary Raymond Tam says the LRT will be linked to Hengqin Port and high-speed rail, while road capacity upgrades include the Lotus Bridge and UM undersea tunnel, with more cross-border passages under study. Economic Snapshot: DSEC reports Macao’s economy grew 3.7% in real terms in 1H26, driven by tourism and gaming services, with GDP at MOP209.91 billion and services exports rising. Public Safety: PSP says 86 suspected illegal workers were found in July during inspections across 249 locations. Health Alert: SSM confirmed an 82-year-old man tested positive for Legionnaires’ disease; officials will collect environmental samples to trace the source. Culture & Youth: WYF-FLALS 2026 in Macao brought 400+ students for a Future Liberal Arts Leadership Summit, while a Palace Museum youth programme highlighted cultural heritage exchanges. Gaming Market Watch: Citi’s Macau table survey finds fewer premium mass players but higher wagers, with Wynn the biggest share of observed premium mass spend. Local Life: Macau residents can start renting farmland in Hengqin from today, with the “Peach Blossom Spring Farm” set to open at end-September.