Macau Gaming Revenue Surges to $2.8B in May

The preceding months established momentum for May’s performance. March delivered MOP 22.62 billion ($2.80 billion) in gross gaming revenue, representing a 15 percent increase year-on-year. The figure surpassed Seaport Research Partners’ estimate of 11.6 percent growth and exceeded the Bloomberg Asia consensus of 11 percent. However, April experienced typical seasonal softness with revenue declining to MOP 19.90 billion ($2.47 billion), down 12 percent from March.

Analysts anticipated May would bring moderated growth. Investment bank Jefferies projected gross gaming revenue between MOP 21.8 billion and MOP 22.4 billion, implying 3 to 5 percent year-on-year growth. Citigroup similarly forecast approximately 4 percent growth, estimating MOP 22 billion to MOP 22.5 billion. Both projections fell below the market consensus of 6.3 percent.

The segment breakdown revealed distinct patterns. Month-to-date mass revenue increased 8 to 10 percent month-on-month, while VIP revenue climbed 10 to 12 percent. The VIP win rate tracked below its normal range at 2.6 to 2.8 percent. Jefferies noted that revenue over eight days ended May 25 averaged MOP 656 million ($81.20 million) daily, approximately 5 percent lower week-on-week despite the Buddha’s Birthday holiday weekend.

Holiday Visitor Arrivals Fuel Gaming Performance

Holiday periods drove substantial visitor traffic to Macau during May. The five-day Labor Day holiday from May 1 to 5 brought approximately 873,000 visitor arrivals, marking a 2.7 percent year-on-year increase. Average daily arrivals reached nearly 175,000, surpassing 2019 levels by 10.4 percent.

Visitor flows peaked on May 2, when arrivals hit about 248,000, the highest single-day total recorded since official statistics began. On the same day, total border crossings reached 889,000, also setting a record high. Hotel occupancy remained strong, averaging 92.7 percent over the holiday period and reaching a high of 98.3 percent on the peak day.

Mainland visitors accounted for 83 percent of inbound arrivals during Labor Day, while visitors from Hong Kong and Taiwan represented 10.8 percent and 1.3 percent respectively. Overseas visitors made up 4.9 percent.

Similarly, the three-day Buddha’s Birthday holiday from May 23 to 25 recorded 403,000 visitor arrivals, with an average of 134,000 per day[18]. The holiday is observed in Macau and Hong Kong, but not in mainland China, making the figures relevant for assessing short-haul visitation from nearby markets during regional public holiday periods[18].

Year-to-Date Results Reveal Recovery Gap

Full-year 2025 results provided context for the current recovery trajectory. Macau gaming revenue reached MOP 247.4 billion, climbing 9.1 percent over 2024 and exceeding Chief Executive Sam Hou Fai’s projection of MOP 228 billion. However, the total represented 84.6 percent of the pre-pandemic 2019 benchmark, which closed at MOP 292.5 billion.

The previous year demonstrated similar momentum. In 2024, gross gaming revenue grew 23.9 percent year-on-year to MOP 226.80 billion, recovering to 77.5 percent of 2019 levels. The progression showed steady gains, with the market adding approximately 7 percentage points in recovery rate between 2024 and 2025.

January 2026 delivered MOP 22.63 billion in gross gaming revenue, up 24 percent year-on-year and marking the highest January total since 2019. The figure exceeded analyst expectations, as Seaport Research analyst Vitaly Umansky had anticipated 14 percent year-on-year growth for the month.

Analysts project moderated expansion for full-year 2026. Umansky predicted a growth rate of 7 percent, driven by increasing wealth in China and rising travel spending. Similarly, Deutsche Bank expects gross gaming revenue to rise 5.8 percent, while JP Morgan forecasts growth between 5 and 6 percent for the year.

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Kalshi one of the biggest companies within Prediction market betting

The American Gaming Association has declared that prediction market platforms have cost state governments more than $1 billion in foregone gaming tax revenue. The bulk of that figure has accumulated since the start of 2025. Prediction markets allow users to place wagers on future events, functioning similarly to sports betting platforms but operating under different regulatory frameworks. The association’s commercial gaming revenue tracker indicates nearly $950 million in potential gaming taxes lost since early 2025 alone. The organization contends these platforms operate as unregulated national sportsbooks that avoid the gaming taxes paid by licensed competitors, sparking a regulatory debate over proper oversight authority.

American Gaming Association Reports $1 Billion Revenue Loss from Prediction Markets

Bill Miller, president and CEO of the American Gaming Association, detailed the revenue impact during an appearance on CNBC’s Squawk Box, noting that lost funds would otherwise support critical community projects. Prediction market platforms offering sports bets have deprived seniors’ pension plans and responsible gaming programs of funding.

Regulated gaming generated $1.42 billion in gaming tax revenue for state programs, marking a 10.5% increase over the previous year. Miller emphasized that the gaming industry provides 1.8 million jobs and $53 billion in tax revenue, a figure exceeding the annual budgets of 34 individual states including Pennsylvania, New Jersey, and Illinois. Operators of skill machines, sweepstakes casino sites, and prediction market platforms pay no state gaming taxes.

The threat extends beyond tax revenue. Executive surveys reveal that 81% of gaming executives view prediction markets as a very significant threat to the regulated gaming industry. Federal regulatory concerns now limit operations for 46% of executives, up from 29% in Q3 2025. Competition from new gaming forms affects 42% of executives, compared to 25% last fall.

Kalshi’s growth illustrates the scale. Sports-related activity on the platform represented just $227,000 in volume during 2024. Sports betting now accounts for approximately 86% of Kalshi’s business, generating more than $47 billion in trading volume this year.

How Do Prediction Markets Bypass Gaming Tax Requirements?

Prediction markets classify themselves as financial exchanges regulated by the U.S. Commodity Futures Trading Commission rather than state gambling regulators. This classification creates substantial tax advantages. Platforms rebrand sports wagering as futures contracts to sidestep state and tribal regulatory frameworks governing legal sports betting.

The tax disparity becomes evident through state-by-state analysis. North Carolina subjects prediction market providers only to the 2.25% corporate income tax rate, far lower than the 18% that sports betting providers must pay. For North Carolina, this wedge exceeds 15% since the state collects 18% from a losing wager made via DraftKings but only 2.25% on Kalshi. In states with no corporate income tax, such as Nevada, Ohio, South Dakota, Texas, Washington and Wyoming, prediction market companies essentially pay no state taxes on their income. Nevada’s situation creates an infinite wedge, as Kalshi remits no corporate income taxes while DraftKings faces a 6.75% rate applied to gambling providers.

Licensed operators must comply with know-your-customer protocols, anti-money laundering safeguards, integrity monitoring requirements, responsible gaming requirements, age verification, and local gaming requirements. Prediction markets operate without these. Legal operators have invested heavily in compliance infrastructure, paid meaningful licensing fees, and continue paying taxes that flow to state budgets and public programs.

Legal Battle Intensifies Over Regulatory Authority

The Commodity Futures Trading Commission filed lawsuits in April 2026 against Arizona, Connecticut, and Illinois, challenging state efforts to regulate prediction market operators. All three states had issued cease and desist orders accusing platforms of engaging in illegal online gambling under state law. Arizona escalated actions by filing criminal charges against Kalshi for allegedly violating state gambling laws.

CFTC Chairman Michael S. Selig stated the agency would continue to safeguard its exclusive regulatory authority over these markets and defend market participants against overzealous state regulators. The agency contends Congress specifically rejected a fragmented patchwork of state regulations because it resulted in poorer consumer protection and increased risk of fraud.

Connecticut Attorney General William Tong accused the Trump administration of recycling industry arguments rejected in district courts across the country. According to 39 state Attorneys General, prediction market contracts violate state laws and the Indian Gaming Regulatory Act.

The most consequential decision arrived on April 6, 2026, when the Third Circuit Court of Appeals affirmed a preliminary injunction for Kalshi against New Jersey. The court held that Kalshi showed a reasonable chance of success arguing the Commodity Exchange Act preempts state gambling law as applied to CFTC-regulated event contracts. Conversely, state regulators prevailed against Kalshi at the preliminary injunction stage in Nevada, Maryland, and Ohio.

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Tilman Fertitta

Caesars Entertainment has entered into a definitive agreement to be acquired by Fertitta Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of around $11.9 billion in outstanding debt. Under the terms of the deal, shareholders will receive $31.00 in cash for each outstanding share, representing a 49 percent premium over the unaffected share price as of February 25th, 2026. The acquisition combines Caesars Entertainment and Fertitta Entertainment’s gaming, restaurant, and hospitality assets into a powerhouse portfolio. According to the companies, the combined entity will control 60 casino resorts and gaming facilities, digital gaming operations, retail sports betting at more than 200 third-party locations, as well as over 600 Fertitta Entertainment outlets.

Fertitta Entertainment Offers $31 Per Share in All-Cash Deal

The negotiations leading to the final agreement involved competitive bidding between Fertitta Entertainment and billionaire investor Carl Icahn. Earlier discussions valued Caesars at $32.00 per share with an equity value of $6.50 billion. The Wall Street Journal reported Fertitta Entertainment offered $34.00 per share, while Icahn’s competing proposal stood at $33.00 per share. Icahn, who holds approximately 18 million shares including derivatives, expressed interest in combining Caesars’ digital gambling operations with a large digital gaming company.

The acquisition comes as Caesars Entertainment faces significant financial headwinds. The company reported a net loss exceeding $500 million in 2025, marking four consecutive quarters of losses. Las Vegas visitation declined 7.5% during this period, contributing to operational challenges. Caesars’ stock hit a five-year low near $18 earlier in 2026, a stark contrast to its 2021 peak above $115.

Despite these struggles, sources cited the company’s solid operational metrics as compelling factors. Caesars generates approximately $1 billion in free cash flow annually and produces $4 billion in EBITDA. According to one source close to the negotiations, “The math is just too good to ignore”.

What Assets Does the Combined Entity Control?

Fertitta Entertainment’s acquisition brings together substantial gaming portfolios. Caesars Entertainment operates more than 50 properties across the United States. The portfolio includes prominent Las Vegas Strip venues such as Caesars Palace, Flamingo Las Vegas, Paris Las Vegas, Planet Hollywood Las Vegas, and Harrah’s Las Vegas. Regional holdings span the Western United States with properties in Nevada, California, Arizona, and Colorado.

Fertitta Entertainment owns Golden Nugget Hotel & Casinos, which operates eight casinos across Nevada, Colorado, Louisiana, New Jersey, Illinois, and Mississippi. The company purchased a sizable plot on the Las Vegas Strip for $270 million in 2022, initially earmarked for casino development. The land, located about a mile from Caesars Palace, received approval for a 43-story, 2,400-room casino resort.

However, the combined entity faces complexities in property ownership. VICI, a gaming REIT established from Caesars’ bankruptcy in 2017, owns Caesars Palace and Harrah’s on the Las Vegas Strip, along with approximately 20 regional properties. Caesars shifted predominantly to an OpCo model by selling and leasing back its real estate.

Moreover, Caesars acquired sports betting company William Hill for $3.70 billion in April 2021, subsequently selling William Hill’s European business to 888 Holdings for $3 billion.

How Will the Transaction Close?

Fertitta Entertainment will finance the acquisition through equity contributions, assumed Caesars Entertainment debt, and new committed debt financing arranged by a consortium of 10 banks. The proposed transaction carries no financing condition.

Shareholder approval from Caesars Entertainment represents a critical milestone, alongside satisfaction of customary closing conditions and applicable regulatory approvals. In addition, the Carano family, holding approximately 5% of outstanding Caesars Entertainment common stock, agreed to roll a portion of their equity interests into Fertitta Entertainment.

Shares of Caesars Entertainment will delist from NASDAQ upon completion. The definitive agreement includes a go-shop period extending through July 11, 2026, permitting Caesars and its advisors to solicit, consider, and negotiate alternative acquisition proposals from third parties. Prior to shareholder voting, the Caesars Board of Directors retains the right to terminate the agreement and pursue an alternative transaction providing a superior proposal, subject to terms and conditions outlined in the definitive agreement.

Management continuity remains a priority. Caesars Entertainment Chief Executive Officer Tom Reeg, Chief Financial Officer Bret Yunker, and President and Chief Operating Officer Anthony Carano will remain in their roles. Corporate management and property-level personnel are expected to continue leading operations at the combined company.

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Continent 8 Technologies

The intelligence8 portfolio combines advanced infrastructure, intelligent automation, and managed services to enable operators and suppliers to deploy, scale, and optimise AI workloads with confidence. The suite currently includes four core offerings: AI-Ready Infrastructure, Managed AI Services, AI Ops, and Voice AI.

Cris Kuehl, Chief Data, Information and AI Officer at Continent 8 Technologies, comments:“As AI adoption accelerates across industries, organisations face increasing challenges around performance, scalability, security, and operational complexity. Continent 8 addresses these challenges by delivering an integrated, enterprise-grade platform that simplifies AI deployment and management.With intelligence8, we are empowering our customers to move from AI ambition to real-world execution – while maintaining the strict standards required in regulated iGaming markets.”

The launch reinforces Continent 8’s commitment to delivering next-generation technology solutions that help customers stay competitive in a rapidly evolving digital landscape.

The suite is fully aligned with Continent 8’s global network of connected locations, offering customers secure, low-latency access to AI services in regulated iGaming jurisdictions globally and latency-sensitive environments worldwide.

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How Did Michele Spagnuolo Execute the $1.2M Betting Scheme?

Spagnuolo created an account on Polymarket under the alias “AlphaRaccoon” in May 2024. Through his role as a staff information security engineer, he accessed Google’s internal data systems, including a software tool that displayed “Google Confidential” in red text. This tool provided access to nonpublic Year in Search data before public release.

His betting strategy centered on exploiting improbable outcomes. He placed a £302.67 bet that d4vd would rank among most searched people and £3.97 that the singer would claim the top spot, despite Polymarket assigning near-zero probability to this outcome. Additionally, he wagered £486,820.15 against Pope Leo XIV being the most searched person and £397,080.06 against Donald Trump.

The trader achieved a 22-for-23 success rate on Google search predictions. His account had previously earned £119,124.02 by correctly predicting the exact release date of Google’s Gemini 3.0 Flash model[10]. According to prosecutors, Spagnuolo attempted to conceal his activities using a cryptocurrency privacy service. The AlphaRaccoon account vanished from Polymarket after users on X and Discord speculated about insider trading.

What Charges could Spagnuolo Face?

Federal authorities pursued parallel enforcement actions against the Google employee through both criminal and civil channels. On May 27, 2026, the U.S. Attorney’s Office for the Southern District of New York unsealed criminal charges. The Commodity Futures Trading Commission simultaneously filed a civil complaint in the same court.

The criminal indictment includes three counts against Spagnuolo. One count of violating the Commodity Exchange Act carries a maximum sentence of 10 years in prison. Wire fraud charges carry a maximum sentence of 20 years. The money laundering count also carries a maximum sentence of 20 years in prison. Spagnuolo appeared before U.S. Magistrate Judge Sarah Netburn in the Southern District of New York.

In the complaint, the CFTC seeks restitution, disgorgement, civil monetary penalties, trading and registration bans, and a permanent injunction against further violations of the Commodity Exchange Act and CFTC regulations.

U.S. Attorney Jay Clayton stated that insider trading compromises market integrity and the American people want this greed-driven conduct investigated and prosecuted. FBI Assistant Director James C. Barnacle Jr. noted that Spagnuolo allegedly abused his elevated access to confidential trends to receive more than one million dollars in unlawful profits.

Google placed the employee on leave and confirmed cooperation with law enforcement.

How Did Authorities Trace the Insider Trading?

Blockchain transparency played a critical role in exposing the scheme. Public blockchain data revealed the wallet deposited £2.38 million into Polymarket and immediately began placing large bets. The wallet address “0xafEe” netted nearly £0.79 million by correctly predicting nearly every outcome in Google search trend markets.

Meta engineer Jeong Haeju exposed the situation on X, noting the trader achieved a 22-for-23 success rate on Google search predictions. When AlphaRaccoon attempted to hide by changing his username, the effort proved futile. All Polymarket activity is retained on-chain, allowing the trading history to remain viewable under the handle @0xafEe.

Polymarket worked closely with the US Attorney’s Office on the investigation. A spokesperson stated the company is the only prediction platform to date whose cooperation has led to insider trading charges in the United States. The platform emphasized that blockchain trading is transparent, traceable, and bad actors leave footprints.

The FBI linked Spagnuolo’s accounts by finding one he had opened with an Italian identification card. Consequently, despite using cryptocurrency from several accounts, authorities traced the transactions back to the Google employee. The US Attorney’s office worked with the Federal Bureau of Investigations on Spagnuolo’s arrest.

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Digitain

The approval represents another significant milestone in Digitain’s strategic expansion across regulated jurisdictions and highlights the company’s commitment to operating in full compliance with the highest international regulatory standards.

Denmark remains one of Europe’s most established and highly regulated gaming markets, recognized for its strong compliance framework, high operational standards, and focus on responsible gaming practices. Entering the market marks an important achievement for Digitain as the company continues to pursue sustainable growth across regulated markets worldwide.

Arshak Muradyan, Group Chief Compliance Officer at Digitain, commented:  “Obtaining the Denmark licence represents another important milestone in Digitain’s regulatory expansion journey and reflects our long-term commitment to operating within highly regulated markets. Denmark is recognized for its strong compliance standards and mature gaming ecosystem, making this achievement particularly significant for our continued European growth strategy. We are proud to begin building new partnerships in the market and bringing our live gaming solutions to Danish operators.”

By securing the Danish licence, Digitain continues to strengthen its position as a trusted global provider of innovative gaming solutions, while further expanding its footprint across key European markets.

Through its growing portfolio of products and market presence, Digitain continues to support partners with flexible, compliant, and localized solutions designed to drive engagement and long-term success in competitive regulated environments.

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Fusing raw rock energy with premium slot mechanics, the slot is a true headbanger. Tailored for those who want to stand out from the crowd and play to a different beat, it’s loud, fast and rebellious.

A slot fine-tuned for the big stage, Guitar Quest is a real crowd pleaser. Labelled as one of Relax Gaming’s most important game releases this year, it comes with high expectations and the potential to become a huge hit.

Guitar Quest is the first game of its kind created by Relax, bringing entirely new immersive features to players for the first time. The game’s rock theme and innovative features strike the perfect balance between familiarity and engagement to keep players coming back.

Solo Mode is the real showstopper that brings the slot to life. A unique cash-collecting game round, its high intensity and continuous gameplay keep momentum at fever pitch.

The Backstage Bonus also serves as an effective extension to the base game, with two separate paths supported by the Supercharge feature option enabling complete player control.

Whether players are iconic rockers or young guitar prodigies, Guitar Quest offers a variety of play styles and experiences.

Tony O’Mahony, Chief Product Officer at Relax Gaming, said: “Everything is turned up to eleven for this one. I can’t wait to see all the garage band heroes dusting off their guitars and rocking out with Guitar Quest.”

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Pragmatic Play

A 7×7 grid bursts with colour in this tumbling-reels slot, where clusters of 5-15+ matching sweet symbols award base game wins of up to 150x.

On any spin, a multiplier can appear behind the symbols, spanning from 2×2 up to 7×7 in size. Starting at 2x, each winning tumble that hits across the multiplier doubles the value up to a maximum of 128x before resetting at the end of the spin.

Landing 3-7 scatters triggers the bonus game with 10-30 free spins, during which multiplier underlays are guaranteed to land on every spin. In Super Free Spins, which can be activated at random, the guaranteed multiplier spans the entire grid.

In select markets, an assortment of special bets is also available. The Ante Bet increases the likelihood of triggering free spins, while two Super Spins options guarantee a multiplier on each spin. Three bonus buy options grant direct access to features, guarantee a 7×7 multiplier, or make the multiplier persistent between spins.

Candy Rush is the latest sugary slot to join Pragmatic Play’s award-winning portfolio, following recent releases Sweet Bonanza 2500 and Jelly Express.

Sharon McHugh, Director of Public Relations at Pragmatic Play, said: “Sweet-themed slots continue to prove popular with players across the world, and Pragmatic Play has built a reputation for delivering standout experiences in the genre. Candy Rush is an exciting addition which brings a thrilling multiplier underlay feature, a variety of special bets, and mouthwatering 15,000x win potential.”

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Trump Declares Federal Authority Over Prediction Markets

President Donald Trump declared his backing for federal oversight of prediction markets Donald Trump through a Truth Social post on Tuesday evening. Trump endorsed the Commodity Futures Trading Commission’s jurisdiction over the industry, stating the agency’s exclusive authority must be maintained for these markets to thrive.

Trump framed his position around international competition, arguing that federal control remains critical for maintaining American leadership in emerging financial technologies. “Other Countries are after this new form of Financial Market, and we want to remain at the top,” Trump wrote. He connected prediction markets to the broader cryptocurrency sector, emphasizing the United States’ position as the crypto capital of the world and warning that foreign nations seek to replace that status.

The president singled out several Democratic officials who have pursued state-level regulation, calling Chris Christie, Letitia James, Tim Walz, and JB Pritzker “SCUM” and declaring they should not set regulatory standards. Trump characterized his administration’s approach as establishing “rules of the road” that represent the gold standard for states.

The CFTC has shifted from opposing prediction markets to supporting them in legal battles over regulatory authority.

States Challenge Federal Oversight of Prediction Markets

Multiple states have initiated legal action against prediction market platforms, arguing that these operations constitute illegal gambling under state law. Minnesota became the first state to enact an outright ban, making the operation, creation, or advertising of a prediction market a felony offense carrying up to five years in prison and a fine of $10,000. The ban, passed with substantial legislative support (100-32 in the House and 57-9 in the Senate), takes effect on August 1.

The CFTC responded by filing lawsuits against Connecticut, Arizona, and Illinois on Thursday, challenging their regulatory efforts. Arizona escalated the conflict by filing 20 criminal misdemeanor charges against Kalshi for allegedly violating state gambling laws. Connecticut Attorney General William Tong accused the Trump administration of “recycling industry arguments” that have been rejected in district courts across the country.

New York Attorney General Letitia James joined a bipartisan coalition of 37 other attorneys general in filing an amicus brief supporting Massachusetts’ lawsuit against Kalshi. The coalition argues that states remain best positioned to regulate sports betting and protect consumers from predatory practices.

Illinois Governor JB Pritzker issued an executive order barring state employees from using insider information on Donald Trump prediction markets. The dispute has generated at least 30 court cases involving states, federal authorities, and prediction market operators.

Trump Family’s Prediction Market Connections Spark Conflict Concerns

Donald Trump Jr. holds advisory positions at both Kalshi and Polymarket, the two dominant prediction market platforms facing regulatory scrutiny. His venture capital firm, 1789 Capital, invested double-digit millions of dollars into Polymarket, which received a valuation exceeding $1 billion from Founders Fund. Trump Jr. joined Polymarket’s advisory board, while his Kalshi role represents a paid strategic advisor position.

The Trump family maintains financial interests extending beyond Donald Trump prediction markets. Trump owns World Liberty Financial, a crypto company that has drawn extensive conflict of interest reporting. Trump’s media company launched its own prediction market product last year.

The New York Times published an investigation revealing the CFTC has helped advance prediction markets “at virtually every turn” while softening regulatory enforcement of digital currencies. The report documented how the commission culled its ranks and sidelined career officials.

The House Committee on Oversight and Government Reform announced an investigation into Kalshi and Polymarket over allegations tied to insider trading safeguards. Well-timed bets on prediction markets regarding the Iran war raised questions about whether Trump administration figures traded on insider information. Amanda Fischer, policy director for Better Markets, questioned how closely regulators monitor these online betting platforms.

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Patrick Dumont Rules Out Online Gaming and Prediction Markets

The decision to discontinue digital gaming operations came following the closure of Sands Digital Services, a division that explored opportunities in online casino gaming. In a letter dated Oct. 2, Dumont explained that executive leadership and the board determined the project no longer aligned with the company’s core long-term objectives. The shutdown impacted between 300 and 400 employees, including around 150 positions in Las Vegas.

Dumont is believed to be behind the decision to abandon Las Vegas Sands’ online gaming arm, bringing the group back in line with the views of late founder Sheldon Adelson, who famously opposed online gambling. The digital gaming project would have offered live gambling from streamed dealers into markets that have legalized internet gambling. Despite believing the team advanced the company’s interests in digital gaming, executives determined the project was not a strategic fit.

Las Vegas Sands has historically been cautious about entering the online gambling space, unlike competitors such as MGM Resorts International and Caesars Entertainment. The company also withdrew its plans to seek a New York casino license, citing cannibalization concerns from potential iGaming legalization. Affected employees could apply for openings within the company, though most positions require different skill sets.

Las Vegas Sands Leverages AI for Business Intelligence

AI-powered technologies represent a growing opportunity for Las Vegas Sands operations, according to Dumont. The executive noted that AI “is something that we look at a lot,” particularly for increasing speed and efficiency of proprietary tools developed by casino operators. Nonetheless, Dumont identified business intelligence as the biggest opportunity for the company.

Smart gaming tables have become central to this strategy. Dumont labeled the investment “very successful,” although he acknowledged the technology remains in its early days regarding operational efficiency, security enhancement, and patron experience improvement. Las Vegas Sands began investing in smart tables more than eight years ago, deploying a solution that differs from competitors’ approaches.

The key differentiator for Las Vegas Sands lies in combining RFID and optical technologies. This combination allows precise understanding of table activity, with the goal of achieving analytics nearly as good as those available on the slot side. “That allows us to really be precise about the way that we understand what’s happening at the table,” Dumont explained.

The technology enables Las Vegas Sands to capture detailed data about gaming table operations in real time, providing management with better insights into player behavior and table performance patterns that were previously difficult to track manually.

Sands China Addresses Market Growth

Sands China has launched an aggressive suite expansion program to address capacity gaps in Macau’s competitive premium gaming segment. The company reported a 23.6% year-on-year increase in net revenues to USD 2.11 billion in Q1 as the impact of heightened player reinvestment takes effect. Work on new suite product has already begun at The Venetian Macao, with refreshed room products starting to come into service by Q3 2026 and a total product refresh targeted for completion by the end of 2027 or early 2028.

Dumont stated that growth in the Macau market is primarily driven by the premium segment, where competition remains intense. Luxurious suite product coupled with outstanding service levels are critical to success in this environment. Accordingly, Las Vegas Sands plans to introduce refreshed and luxurious room suite products throughout the portfolio while making targeted investments in training and hiring additional customer-focused team members.

The company maintains a target of reaching USD 700 million in quarterly EBITDA in its Macau operations, compared to the first quarter’s USD 633 million. Over time, margins are expected to improve as revenue grows in the lower end of the premium segment and in the non-premium segment, where the scale of hotel inventory provides natural advantages.

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