Macau’s diversification crucial for growth: Sands China CEO
Sands China CEO Grant Chum emphasised that the story of Macau’s diversification is still unfolding as the integrated resort industry must advance to a “new level over the next five to ten years.”
“ I think diversification will continue to progress if we focus on integration. It started with integrating gaming, non-gaming, [and] progressed to integrating all the diverse non-gaming amenities,” Chum said during his keynote speech at G2E Asia happening at the Venetian Macao.
Reflecting on the city’s transformation, Chum noted that it took vision, audacity, and government support to establish the current landscape. He argued that the China’s Special Administrative Region (SAR) has advantages, including political stability and an “unmatched quality and quantity of tourism supply.” He said that this “unparalleled critical mass of premium integrated resorts all in one place” creates an advantage that he believes would be nearly impossible for any other Asian city to rival over the next several decades.
Chum also shared that Sands China invested about $2.4 billion to build the Venetian Macao. The integrated resort opened in 2007. He estimated that developing a project of the same scale today would cost roughly $11 billion to $12 billion.
In 2025, data from the city’s Gaming Inspection and Coordination Bureau (DICJ) reported that Macau recorded a total gross gaming revenue (GGR) of MOP247.40 billion ($30.9 billion). The data represents a year-on-year increase of 9.1 per cent from the previous year.
Beyond gaming: The integration of hardware and software
The Sands China CEO said that the next decade of growth will be defined by a shift toward “tourism-related diversification,” which has already seen progress in MICE, entertainment, and luxury retail. Chum emphasised that the future depends on “integrating the hardware and the software,” moving beyond physical buildings to invest in branding, talent, and destination marketing. He noted that the city’s MICE industry is particularly vital because it drives international visitation, longer stays, and higher spend per visitor.
Macau’s 1+4 strategy
The government of Macau is already implementing its 1+4 development strategy (2024–2028) to diversify the city’s economy away from a gaming-reliant model towards a diverse leisure centre. The government earlier said this initiative aims to enhance integrated tourism while fostering four key sectors such as health, finance, technology, and events.
“It is not only an inevitable choice to ensure the long-term prosperity and stability of Macau Special Administrative Region (SAR), but also a must-do issue for the Macau SAR government and all walks of life,” the government said in it’s strategy document.
“It also aims to consolidate and enhance traditional privileged industries, further reinforce the effects of synergistic development between industries, effectively strengthen the dynamism and overall capacity of Macau’s economic development, and accelerate the promotion of appropriately diversified, sustainable and high-quality development of Macau’s economy,” the government added.
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