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Adobe has partnered with Antom to enhance payment accessibility in Asia by integrating localized payment options into its platform. This initiative will introduce eight alternative payment methods, including AlipayHK, GCash, and Kakao Pay, aimed at simplifying transactions and improving user experience in key Asian markets. The collaboration reflects Adobe's strategic evolution in the SaaS landscape, addressing the need for region-specific payment solutions amid the rapidly growing Asia-Pacific payments market.
Citigroup analysts report a slight recovery in March's gross gaming revenue (GGR), with a daily average of MOP643 million, up 3% from the previous week. However, the overall GGR for March is projected at MOP19.5 billion, remaining flat year-over-year and about 75% of pre-pandemic levels, as both VIP and mass market sectors face declines of 9% and 8%, respectively.
UBS reports that Macau's average daily GGR for the past week was approximately MOP621 million, reflecting a 10% month-over-month decline but remaining stable compared to historical seasonal performance from 2015-2019. The firm maintains a positive outlook on the gaming industry, with SANDS CHINA LTD identified as a top pick.
Xiaohongshu has introduced the "Overseas Ecommerce Pioneer Program," aimed at providing cross-border business solutions for merchants. This initiative integrates online transactions, export trade, cross-border payments, and localized operations into a cohesive service chain. Currently in the testing phase, it is available by invitation only to select merchants, targeting markets in the US, Hong Kong, and Macau.
Xiaohongshu has introduced the "Overseas Ecommerce Pioneer Program," aimed at providing cross-border business solutions for merchants. This initiative integrates online transactions, export trade, cross-border payments, and localized operations into a cohesive service chain. Currently in the testing phase, it is available by invitation only to select merchants, targeting markets in the US, Hong Kong, and Macau.
MGM China Holdings Ltd emerged as the leading gainer in mass gaming revenue share in Macau for Q4, capturing 15.9% of the market, equating to approximately US$999 million. In contrast, Galaxy Entertainment Group saw significant gains in VIP revenue, increasing its share by 6.2 percentage points to 23.7%. Overall, the mass gaming market generated nearly MOP57.43 billion (US$7.17 billion) in the quarter.
Macau's gaming operators experienced a decline in margins in Q4 2024, with industry-wide margins falling to 27.2% from 27.9% in the previous quarter. Property EBITDA decreased by 2% year-on-year to US$1.90 billion, while total industry GGR rose 6% to MOP$57.6 billion, driven by an 11% increase in VIP GGR. SJM, Galaxy, and Melco gained market share in the mass segment, while aggregate VIP revenue grew by 11% on a higher hold of 3.00%.
Macao has introduced its first wearable payment solution, enhancing user convenience and contributing to its smart city development. In partnership with Huawei, Macau Pass allows users to link their MPay accounts to Huawei watches for seamless payments, utilizing advanced security measures to prevent fraud. This innovation supports the growing trend of mobile payments in the region.
Macau's gaming revenue surged 6.6% in October, reaching 20.8 billion patacas ($2.6 billion), marking the highest level since the pandemic-related travel restrictions. This increase was driven by the influx of tourists during China's national Golden Week holiday, aligning with analyst expectations of a 6% year-on-year rise.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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