Brokerage predicts gaming sector stability post CE election

Seaport Research Partners has indicated the upcoming election for a new Chief Executive is unlikely to bring significant changes to the region’s gaming industry.

The firm said it does not expect “any material changes” in the operational landscape, suggesting a continuity in policies and market dynamics that have historically characterized Macau’s gaming environment.

This perspective aligns with the broader sentiment among analysts who anticipate the established gaming frameworks will remain intact, allowing operators to continue their current strategies without major disruptions in the wake of the election later this year.

Analysts noted Wednesday that incumbent leader Ho Iat Seng’s health concerns were not unexpected, given his recent leave.

Analyst Vitaly Umansky said, “At this stage, there is no clear obvious candidate for the job,” but emphasized the new leader will likely maintain the status quo, focusing on supporting the gaming and hospitality sectors.

“It is most certain that the status-quo will likely be the main driver of the new Chief Executive, with the primary policy goals being continued,” including “support for the [city’s] gaming and hospitality industry,” he added.

So far, Jorge Chiang, the president of the Macau Lotus Chamber of Commerce and the Macau Society of Institutional Studies, is the only individual who has publicly announced his intention to run.

The nomination period for candidates runs from Aug. 29 to Sept. 12, with the election scheduled for Oct. 13 – according to Executive Order No. 40/2024, published in the Official Gazette on Aug. 12.

The new Chief Executive is expected to be sworn in by December.

Chief Executive Ho Iat Seng announced Wednesday he would not run for re-election in the upcoming October poll, citing unresolved health problems.

This decision follows an extended leave that began on June 21, marking his first significant break since taking office on Dec. 20, 2019.

In a statement from the Government Information Bureau, Ho said his choice was made in the best interests of Macau’s long-term development.

“Due to health problems that have not yet been fully resolved, I have decided not to run… to ensure the long-term development of Macau,” he said. Nadia Shaw