Macao casinos hosting large-scale concerts are likely to see above-industry growth in gaming revenue over the long term, according to a note from Citigroup reported by multiple casino industry media outlets.
Operators able to ramp up their event calendars could convert concert audiences into high-value gambling customers, boosting both market share and profitability, analysts said. They highlighted Galaxy Entertainment Group with its 15,000-seat Galaxy Arena, and Sands China, operator of the Venetian Arena, as the concessionaires best positioned to benefit.
Thanks to their large venues, Galaxy and Sands can give many of the best concert seats to their top players for “free” – though likely requiring significant cash commitments to the casino, the analysts noted.
[See more: Macao launches its first Chinese Culture Performances Season]
They pointed to Cantopop star Jacky Cheung’s nine-show run at Galaxy Arena in June and July as an example. His performances helped Galaxy hit post-pandemic highs in its gross gaming revenue (GGR) market share, gross gaming revenue (GGR) market share, operating earnings before interest, taxation, depreciation (EBITDA), and EBITDA margin in the second quarter of 2025.
The analysts also noted how hosting concerts contributed concessionaires’ mandatory investments in non-gaming attractions (each of the six has pledged $130.6 billion patacas) while appealing to affluent casino customers willing to pay a premium for a full entertainment experience – killing two birds with one stone.
While ticket prices in Macao tend to be higher than in the Chinese mainland, demand is strong, especially for K-pop. The number of K-pop artists performing in Macao has surged from just nine in 2023 to 59 year-to-date in 2025, with the city emerging as a preferred place for them to connect with Chinese fans amid mainland restrictions.
