Articles by MDT,Nadia Shaw

Business

Morgan Stanley sees 16% GGR growth through 2026

Morgan Stanley described the outlook for the gaming industry as positive in a recent memo, noting that monthly gross gaming revenue (GGR) continues to grow at over 10% year over year. The private bank forecasts GGR to rise by 16% through April 2026. Morgan Stanley analysts highlight a gap between consensus earnings before interest, taxes, depreciation, and amortization (EBITDA) estimates and GGR growth expectations. While consensus EBITDA is projected to grow by 9% year over year in the fourth quarter, this falls significantly short of the 16% GGR growth forecast, even without assuming margin expansion. The bank suggests this gap “could mean upside to current EBITDA expectations.” Regarding operators in the city, Morgan Stanley expressed confidence in Galaxy Entertainment Group (GEG) ahead of the fourth quarter, pointing to market share gains as a major factor. The bank expects Galaxy’s EBITDA to improve in the fourth quarter, helped by lower operating expenses following one-time marketing costs in the third quarter related to Capella’s pre-opening. The bank also highlighted MGM China’s strong position. MGM reported a 100-basis-point increase in its GGR market share in October compared with the third quarter. Analysts also noted MGM’s year-over-year growth of more than 10% in its high-end customer segment, supported by the recent launch of the Alpha Gaming Club. These comments follow Citigroup’s sector memo, which observed a roughly 6% moderation in GGR during the second week of November compared with the first nine days of the month, when the daily run rate was about MOP711 million. Citi attributed this slight dip to hotel rooms being occupied by athletes participating in the National Games, which temporarily reduced the average length of player stays and playtime. The 15th National Games will continue until tomorrow.

Technology

Conference welcomes East-West collaboration in digital content

Macau is leveraging its 500-year history as a crossroads of Chinese and Western cultures to position itself as a hub for digital creativity, hosting its first large-scale celebration of the creator economy, CreatorWeek Macao 2025. Running from October 24 to 28, the event unites global content creators, social media leaders, and representatives from major platforms including Google, Meta, YouTube, Bilibili, Red, and Douyin. At the opening of the conference at Grand Lisboa Palace in Cotai yesterday, MGTO director Maria Helena de Senna Fernandes highlighted Macau’s unique blend of cultural heritage and modern urban vibrancy, emphasizing that evolving traveler preferences favor immersive experiences over traditional sightseeing. “We are inviting influential content creators to explore Macau firsthand, connecting our rich heritage with global creative trends,” Fernandes said, underscoring the government’s push to diversify the economy beyond tourism. “We are oriented to becoming a world center of tourism in Asia,” Fernandes said, noting Macau’s designation as a UNESCO-created city of gastronomy and its designation as a “Culture City of East Asia 2025.” Fernandes described the changing landscape of tourism and content creation, pointing to evolving traveler preferences that favor deeper, immersive experiences over simply visiting picturesque locations. She explained, “Traditional ways of travel are evolving into various new styles. Travelers are embracing the growing preference for experiencing tourism products in depth rather than just taking photos of very nice places. And digital marketing and sales have, in turn, become increasingly significant for visitors, so, in parallel with all these shifts in the competition of our market segments and also travel styles.” In light of this shift, she notes that MGTO recognizes the rising importance of digital marketing and the creator economy as growing industries filled with business potential. “We have tried to invite a lot of influential content creators to join various activities in Macau,” she added. According to the MGTO, CreatorWeek Macau brings together more than 180 creator groups, 50 keynote speakers, and 20 live acts from around the world, transforming Macau into a vibrant showcase of global creativity. Throughout the week, the festival includes not only the conference but also wellness workshops, live performances, and community tours designed to immerse creators in Macau’s multicultural heritage. Industry leaders such as Ben Wong, chief marketing officer of Google Greater China, Evan DeFilippis, vice president of Strategy at MrBeast’s YouTube channel, and Benny Chu, head of Industry at Meta Greater China, were among the speakers exploring themes like scaling creators from Asia to the global stage and strategies behind the world’s biggest creator businesses yesterday.

Technology

Stokes Twins share journey from viral creators to global media entrepreneurs

The Chinese-Dominican twin duo, known as the Stokes Twins, detailed their journey from viral content creators to international media entrepreneurs at the CreatorWeek Macao 2025 Conference yesterday. Since launching their joint YouTube channel in 2017, the brothers have become one of the platform’s leading acts, earning global recognition and amassing over 200 million followers across social media. Originally born in Shenyang, China, the Stokes Twins have evolved far beyond their origins as YouTubers. Today, they are founders of a global media empire spanning the United States and China. Over time, they explained that they have “adapted to changes” in YouTube’s algorithm and have “evolved their approach” to create content that “resonates with a worldwide audience.” Alan Chen Stokes highly credited their “dedication to engaging a global audience” for elevating their channel to YouTube’s top ranks. As of June 16, 2025, Forbes ranked the Stokes Twins No. 19 on its Top Creators list, estimating their annual earnings at USD20 million (MOP160 million). This achievement places them alongside creators like MrBeast, whose reality game show set new Amazon viewership records; Alex Cooper, podcaster and entrepreneur behind Call Her Daddy and the Unwell Network; comedian Matt Rife; and Jake Shane, the Therapuss podcast host known for his viral TikTok content and candid discussions about living with OCD and anxiety. In 2025, their YouTube subscriber count alone reached 132 million. Their success, the Stokes explained, comes from a careful and detailed approach, investing significant effort in every step – from ideation to final edit. “Once we pick the right idea, everything else becomes so much easier,” Alex Chen Stokes said. He added, “Idea generation accounts for 90% of our work,” explaining that focusing on concept development “not only refines the creative process” but also boosts a video’s chances of going viral. Alex describes YouTube as their “mothership” platform, focusing primarily on content-first strategies while exploring partnerships and other ventures in parallel. He also described their content production process as demanding. “It’s very hard to integrate that DNA,” he said. “So definitely, we’ve learned automated processes. Depending on the video type, we spend multiple weeks on a video.” He added, “Sometimes our scripts are 40 pages long,” comparing their workload to television scriptwriting and highlighting their commitment to quality. By dedicating weeks to scripting and refining, the twins believe that this “sets them apart” from creators who appear to prioritize quantity over quality. This approach “can vary depending on video length and topic,” the brothers clarified. When discussing brand collaborations, Alex stated that their approach has evolved since first launching the channel. In that time, the twins have moved beyond one-off influencer deals to now focus on long-term, mutually beneficial relationships. “Brands are smarter and want to invest in the right creators,” Alan said. “We’re super special creators […] we definitely want to focus on the right brand partnerships. And we think it’s such a huge collaborative effort – we’re exposing the right brand so that we create a successful partnership, rather than just a wild brand.” In markets like Asia and the U.S., digital influence holds significant sway over consumer behavior. In both regions, it appears that brands no longer seek quick, transactional influencer deals but aim to build long-term collaborations that add authentic value. In the U.S., there is a stronger emphasis on authentic narratives and creator-driven content that aligns with social values, reflecting consumers’ demand for transparency and trust. “It’s not just about exposure,” stated the brothers.