{"id":279130,"date":"2023-06-26T15:14:54","date_gmt":"2023-06-26T20:14:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=279130"},"modified":"2023-06-27T12:37:28","modified_gmt":"2023-06-27T17:37:28","slug":"sands-concert-series-in-macau-is-contributing-to-added-share","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/","title":{"rendered":"Sands Adding Macau Market Share Thanks to Summer Concerts, Says Citi"},"content":{"rendered":"

Helped by a summer concert series, Sands China may be gaining market share among premium mass bettors visiting Macau.<\/p>\n

\"Sands
Asian pop sensation Jacky Cheung. His concert series at Venetian Macau is helping Sands China gain market share. (Image: EdgeProp)<\/figcaption><\/figure>\n

That\u2019s the take of Citigroup analysts George Choi and Ryan Cheung who, in a recent report, noted the operator likely gained premium mass share this month thanks to live music events.<\/p>\n

Sands\u2019 market share in total premium mass wager observed rose by a whopping circa 14 percentage points month-on-month to approximately 37 percent,\u201d<\/strong> observed the Citi analysts. \u201cThe number of players seen was 125 (May of 2023: 113). Average [premium mass] wager amounted to HKD27,303 [US$3,487],\u201d compared to May\u2019s observed average of HKD17,142 (US$2,189).\u201d<\/strong><\/p><\/blockquote>\n

Recent concerts by Jacky Cheung, the Hong Kong singer and actor who’s one of the best-selling Asian musicians of all time, were a boon to Sands\u2019 premium mass share in the special administrative region (SAR). Cheung is scheduled to perform at Cotai Arena, which is located at Sands\u2019 Venetian Macau<\/a>, on Friday, June 30, and Sunday, July 2.<\/p>\n

For Sands, Nongaming Investment Paying Off<\/h2>\n

Along with Galaxy Entertainment, Sands China is already among the leaders when it comes to mass and premium mass share in Macau. But the concert series is helping.<\/p>\n

\n

That\u2019s relevant, because it confirms that nongaming investments do pay dividends, which could compel more concessionaires to follow suit. They don\u2019t have much choice, because as part of the SAR\u2019s newly revised gaming laws and recent license extensions, operators are required to make $15 billion<\/a> in nongaming investments over the next decade, with Galaxy and Sands responsible for the bulk of that spending.<\/p>\n<\/div>\n

Authorities there view efforts such as nongaming amenities<\/a> and luring visitors to the casino hub from Asia-Pacific nations beyond China. Those plans are viewed as essential in reducing the SAR\u2019s dependence on often volatile gross gaming revenue (GGR). But as Sands China proves, nongaming amenities and events do provide material benefits to casino operations. Consider the case of the Apex Room, a high-end gaming offering found at Sands\u2019 Macau properties.<\/p>\n

\u201cThe Apex room at Plaza [Macao] tops our premium mass survey with an average wager per player of approximately HKD96,500 (US$12,322). The Apex room at the Londoner ranks second at approximately HKD53,438 (US$6,824),\u201d according to the Citi analysts.<\/p>\n

Confirmation Concerts Helping Sands China<\/h2>\n

There\u2019s no denying that the Jacky Cheung concert is having a material benefit for Sands China\u2019s Macau<\/a> gaming operations.<\/p>\n

Sands\u2019 investment in this concert series will very likely pay off with resulting market-share gain,\u201d<\/strong> observed the Citi analysts. \u201cThere were no signs of a slowdown in luxury spending while we were on the ground last Friday. \u00a0We believe GGR and earnings before interest, taxes, depreciation, and amortization (EBITDA) in Macau are recovering well.\u201d<\/strong><\/p><\/blockquote>\n

The analysts added that the Jacky Cheung concerts, while held at Venetian Macau, are helping rival venues, too, as Galaxy Macau was the top individual property in terms of premium mass market share for two consecutive months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Helped by a summer concert series, Sands China may be gaining market share among premium mass bettors visiting Macau. That\u2019s the take of Citigroup analysts George Choi and Ryan Cheung who, in a recent report, noted the operator likely gained premium mass share this month thanks to live music events. Sands\u2019 market share in total […]<\/p>\n","protected":false},"author":46,"featured_media":279131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62,3313],"tags":[81913,81897,81990],"acf":[],"yoast_head":"\nSands Concert Series In Macau Is Contributing To Added Share<\/title>\n<meta name=\"description\" content=\"Sands China Macau concert series helping operator added premium mass market share.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sands Concert Series In Macau Is Contributing To Added Share\" \/>\n<meta property=\"og:description\" content=\"Sands China Macau concert series helping operator added premium mass market share.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-26T20:14:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-27T17:37:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/jc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/\",\"url\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/\",\"name\":\"Sands Concert Series In Macau Is Contributing To Added Share\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/jc.jpg\",\"datePublished\":\"2023-06-26T20:14:54+00:00\",\"dateModified\":\"2023-06-27T17:37:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sands China Macau concert series helping operator added premium mass market share.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-concert-series-in-macau-is-contributing-to-added-share\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/jc.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/jc.jpg\",\"width\":600,\"height\":400,\"caption\":\"Asian pop sensation Jacky Cheung. His concert series at Venetian Macau is helping Sands China gain market share. 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