{"id":313544,"date":"2024-03-08T14:50:15","date_gmt":"2024-03-08T20:50:15","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=313544"},"modified":"2024-03-08T14:50:15","modified_gmt":"2024-03-08T20:50:15","slug":"sands-leads-2023-macau-market-share-gains","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/","title":{"rendered":"Sands Leads 2023 Macau GGR Share, MGM, Wynn Gain"},"content":{"rendered":"

Sands China — the Macau arm of Las Vegas Sands (NYSE: LVS) — was the biggest gainer last year in terms of share of Macau gross gaming revenue (GGGR).<\/p>\n

\"Macau
Sands China’s Venetian Macau. Operator Sands China gained the most market share in Macau last year. (Image: Luxury Lifestyle Magazine<\/em>)<\/figcaption><\/figure>\n

In a new report to clients, Deutsche Bank noted total GGR in the special administrative region (SAR) in 2023 was $22.66 billion, more than quadrupling the $5.19 billion notched a year earlier. Sands runs five casino hotels in the Chinese territory, including Venetian Macau, which is one of the most profitable<\/a> integrated resorts in the world.<\/p>\n

\n

Last year, Sands China\u2019s share of Macau GGR rose to 26.6% from 23.4% in 2022, according to Deutsche Bank. That equates to $6.03 billion, well ahead of the $1.21 billion notched by the operator in 2022. As measured by property market share, Sands was also the winner, coming in at 34.2%, or 10% higher than in the previous year. Galaxy Entertainment was second at 20.8%, noted Deutsche Bank.<\/p>\n<\/div>\n

Sands China gained market share in Macau due in part to its ability to capture more business from mass and premium mass clients as well as extensive menus of non-gaming amenities<\/a> at its venues.<\/p>\n

MGM, Wynn Gaining, Too<\/h2>\n

MGM China and Wynn Macau — the Macau units of MGM Resorts International (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN) — also made market share gains in the SAR last year.<\/p>\n

MGM China, which is 56%-controlled by the US-based parent, commanded 15.3% of Macau GGR last year, up from 13.7% in 2022, said Deutsche Bank. That company runs two casino hotels in the SAR. Wynn Macau — operator of its namesake venue and Wynn Palace — garnered 13.4% of 2023 Macau GGR, up from 11.8% a year earlier.<\/strong><\/p>\n

As measured by property-level earnings before interest, taxes, depreciation, and amortization (EBITDA) share, Wynn was third behind Sands China and Galaxy at 14.8% while MGM was fourth at 13.4%.<\/p>\n

Macau is Wynn\u2019s largest operating market<\/a>. Recent data indicates that in the Chinese territory, Wynn Macau and Wynn Palace have recently swiped incremental market share from some larger rivals, helped by a strong pivot to premium mass customers.<\/p>\n

Strong Year for Macau EBITDA<\/h2>\n

Following a dismal three-year stretch in which the viability of some Macau concessionaires was threatened, EBITDA in the casino enclave markedly improved last year. In aggregate, the six operators posted 2023 EBITDA of $6.46 billion following a loss of $1.31 billion the year prior.<\/p>\n

In terms of market share losers, Melco Resorts & Entertainment (NASDAQ: MLCO) and SJM Holdings were the offenders, shedding 1.7% and 4% of share, respectively.<\/strong><\/p>\n

City of Dreams operator Melco is not only actively deleveraging<\/a>, but it\u2019s taking steps to regain lost market share in Macau. The operator recently announced management changes and new sales efforts aimed at recouping lost share in the SAR.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sands China — the Macau arm of Las Vegas Sands (NYSE: LVS) — was the biggest gainer last year in terms of share of Macau gross gaming revenue (GGGR). In a new report to clients, Deutsche Bank noted total GGR in the special administrative region (SAR) in 2023 was $22.66 billion, more than quadrupling the […]<\/p>\n","protected":false},"author":46,"featured_media":248272,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nSands Leads 2023 Macau Market Share Gains<\/title>\n<meta name=\"description\" content=\"Sands Leads 2023 Macau GGR Share, MGM, Wynn Gain.\" \/>\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-leads-2023-macau-market-share-gains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sands Leads 2023 Macau Market Share Gains\" \/>\n<meta property=\"og:description\" content=\"Sands Leads 2023 Macau GGR Share, MGM, Wynn Gain.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/\" \/>\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=\"2024-03-08T20:50:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/VM.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1368\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\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-leads-2023-macau-market-share-gains\/\",\"url\":\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/\",\"name\":\"Sands Leads 2023 Macau Market Share Gains\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/VM.jpg\",\"datePublished\":\"2024-03-08T20:50:15+00:00\",\"dateModified\":\"2024-03-08T20:50:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sands Leads 2023 Macau GGR Share, MGM, Wynn Gain.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-leads-2023-macau-market-share-gains\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/VM.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/VM.jpg\",\"width\":1368,\"height\":628,\"caption\":\"Sands China's Venetian Macau. 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