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Macau's July dip and the consolidation thesis
July's reported GGR softness landed mid-World Cup, and the outlook pieces calling 2026 a consolidation year rather than an expansion year suddenly look better sourced.
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South Korea eyes casino tourism levy hike to 15% of revenue
A proposal reported in July would lift operators' tourism-fund contribution to 15% of casino revenue — a straight haircut to margins in the foreigner-only segment.