Sands China Gains Macau Market Share In trying 2022

Must read

[ad_1]

Posted on: March 13, 2023, 01:00h. 

Last updated on: March 12, 2023, 08:56h.

While 2022 was a forgettable year for Macau’s gaming industry as gross gaming revenue (GGR) slid to multi-year lows, Sands China found ways to make the best out of a bad situation, gaining market share from rivals.

Sands China
Sands China’s Venetian Macau. The company is gaining market share there. (Image: Wall Street Journal)

The Macau arm of Las Vegas Sands (NYSE: LVS) added  market share across all three key segments — mass, premium mass and VIP — while other concessionaires in the special administrative region (SAR) struggled to keep pace last year.

In a recent note to clients, Deutsche Bank analyst Carlo Santarelli pointed out that in 2022, Sands China’s market share in the Asia-Pacific casino hub increase to 23.4% from 23.3% a year earlier. He added that the Venetian Macau operator made noticeable headway in terms of adding VIP market share in 2022, controlling 26.6% of that segment — just ahead of the 26.5% commanded by rival Meclo Resorts & Entertainment (NASDAQ: MLCO).

For Sands investors, that’s an important fact for multiple reasons. First, the operator adding VIP share against the backdrop of a collapsed Macau junket industry is impressive. Second, the company’s Macau bread and butter has long been mass and premium mass patrons while some rivals depended more on VIPs.

Following the collapse of Macau’s junket industry, concessionaires’ ability to lure mass and premium mass bettors is crucial, because those players offer operators decent margins and often require less in the way of comps, meaning they spend on dining and rooms. Premium mass players typically play high-limit table games, though not at the stakes of their VIP counterparts.

Galaxy, Other Sands Rivals Lose Share

Due to the coronavirus pandemic and the punitive travel restrictions employed by the Chinese Communist Party (CCP), the past three years were unusual for Macau’s gaming industry.

Now things are getting back to normal and Sands China is among the operators analysts believe will benefit. Macau’s newly revised gaming law includes limits on the number of table games each casino can offer. That’s beneficial to the likes of Sands and Galaxy, which were already dominant in the mass segment, because analysts expect the new requirements will compel operators to increase offerings geared toward mass and premium mass customers.

Still, Santarelli noted that Galaxy was among the concessionaires that lost share as Sands China gained last year. In the case of Galaxy, a sluggish VIP demographic was one of the primary culprits. Melco and Wynn Macau also endured reduced market share in 2022.

Specific to Wynn Macau, analysts believe that operator has the ability to quickly shift from focusing on VIPs to an emphasis on premium mass players, which could drive higher market share as 2023 unfolds.

MGM, SJM Won Share, Too

In terms of won and lost market share in 2022 among the six Macau concessionaires, it was an even split as three gained and a trio ceded share.

Beyond Sands China, the other operators in the positive column were MGM China and Daisy Ho’s SJM Holdings.

Regarding SJM, that’s an important point because it’s the most financially fragile of the Macau license holders and has the most room for upside in terms of adding VIP clients.

 

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

rtp slot pragmatic gampang jackpot sensasionalslot megawin starlight princess 1000 penuh berkahcara jitu main slot win streakslot gacor terpercaya di indonesiapola gacor free scatter slot mahjongteknik terbaru slot olympuspola gacor 20 20 70 auto cetar mahjong waysslot gacor anti rungkad slot deposit dana otomatisslot mania olympus janji gacor langsung cair hadiah maksimaltutorial bermain slot mahjong ways 2 auto kemenangan besar hari inirekomendasi slot olympus 1000 jaminan maxwin terbesarsitus slot gacor gama69slot wild west gold telah kembali gacor dengan menang 50 jutaslot hoki lucky neko buatan provider pg soft sangat cocok untuk member baruslot ampuh gampang cuan besarcara jackpot besar main slot onlinebocoran permain mudah jp pragmaticperkalian beruntun terbaik wild banditoakun pro jepang untuk permainan slot yang lebih gacortips pendapatan lebih dengan cara all in untuk semesta pada slot mahjong waysslot maxwin paling di cari banyak memberslot terpercaya deposit dana terbarurekomendasi racikan pola terbaru gatotkacacara ampuh menang bermain di slot gacorcara cepat cuan besar main slot onlineteknik jitu scatter hitam mahjong ways 2 auto jackpot 200 jutateknik pola starlight princess banyak cuanscatter hitam dengan perkalian x1000 dijamin gampang menangpola jitu main slot online terbarupola ajaib naga hitam mahjong ways hasilkan slot scatter hitam viraltrik slot mahjong wins dengan pola terbarumenang lagi slot starlight princess x1000 jam 3 pagislot hacksaw paling dicari member karena mudah jackpotevent scatter hitam mahjong ways dapatkab hadiah jackpot ratusan jutabocoran scatter hitam mahjong ways2momen turunnya scatter hitam x1000 pada slot super mahjong ways 2slot pragmatic play paling gacorsistem jitu slot mahjong ways berhasil berikan kemudahan banjir scatter hitam populertips admin jarwo menang besar slot mahjong ways2tips cara paling wajar untuk menang slot gates of olympuscara slot pg soft banjir wild lebih mudah jackpot maxwin lancar tiap haripola gacor mahjong ways auto cuan besar tanpa ribetrekomendasi slot gacor terbaik mahjong ways langsung daftar sekarang pasti menang besarcara bermain slot mahjong ways 2 jurus ampuh maxwin anti rungkat khusus pemulamemang situs slot mahjong gampang jackpot nomer 1 indonesiaslot online mahjong ways gacor tiada henti gampang menang jp maxwinteknik keramat scatter hitam datangkan jackpot besar dengan cepathanya perlu 2 slot scatter hitam akan merubah nasib jadi sultan kaya barusistem curang bermain slot online olympus jackpot besarteknik jitu slot starlight princess bigwin terbesar sepanjang sejarahslot gacor terbaik dari pg softmudah jackpot dengan trik terbaru dalam bermain slot onlinepola terbaru olympus x1000strategi panas paling jitu 5 lions megawaysslot pragmatic terpanas gampang menang anti kekalahan mei 2024rahasia adik wahyu menang besar di slot dewa mahjong waysslot server kamboja tempat main slot online mahjong wayscara terbaik menang 100juta bermain dislot mahjong ways2slot mochimon menang sensasionalslot sweet bonanza memberikan ledakan maxwin tanpa ampuncara jitu mengandakan kemenangan dalam bermain slot onlinegokil main slot online dapet mobil lexusslot maxwin akun pro sweet bonanzascatter hitam populer mahjong ways2slot mahjong ways scatter hitam rekomendasi coach yebjudi slot gacor mahjong ways dari pgsoftbet receh menang secukupnya pada permainan slot pragmatic gates of olympuspanduan lengkap untuk pencinta slot super mahjong waysmesin slot hoki kakek zeus x500slot mania cuan maksimal dengan teknik kuno terbarucara jackpot slot online pragmatic playcara main slot raih untung kemenangan 100 juta per hari dengan trik iniperkalian unlimited slot starlight princesfenomena maxwin penuh perkalian pragmatic playsuper gacor hanya di permainan slot super mahjong ways 2jarang rungkad permainan slot starlight princess x1000 tergacor inislot terbaru olympus vip kemenangan terbesarsitus gacor anti rungkad cocok untuk permainan slot olympus terbaru