Sands China and Galaxy continue to lead Macau GGR in Q2
Sands China and Galaxy Entertainment Group together accounted for 45.3 per cent of Macau’s GGR in the second quarter of the year.
Macau.- Financial services firm Deutsche Bank has revealed that Sands China and Galaxy Entertainment Group together contributed 45.3 per cent of Macau’s GGR in the second quarter of the year. The proportion was the same as the previous quarter, when the companies contributed MOP23.6bn (US$2.9bn).
For the second quarter, Galaxy Entertainment Group contributed 20.4 per cent of revenue (US$640m) while Sands China’s contribution was US$782m, 24.9 per cent of the total.
Melco Resorts & Entertainment followed with 17.9 per cent. Wynn Macau was in fourth position with 13.7 per cent, while SHM Holdings accounted for 11.7 per cent and MGM China 11.3 per cent.
Mass-market results were led by Sands China at 25.1 per cent of the total US$2.3bn in slots and tables revenue, while Galaxy Entertainment accounted for 17.8 per cent. Melco was again in third position with 17.2 per cent, followed by Wynn and SJM both with 13.6 per cent, and MGM with 12.1 per cent.
As for VIP results, Galaxy Entertainment took 28.1 per cent of the market share with US$219m, Sands 22.5 per cent with US$175m and Melco Resorts 19.9 per cent (US$155m). Melco was followed by Wynn (14.2 per cent), MGM (9.2 per cent) and SJM (6.1 per cent).
Macau’s gross gaming revenue (GGR) reached MOP10.45bn (US$1.31bn) in May, making it the highest monthly revenue since the Covid-19 pandemic started. However, in June the city registered a drop of 37 per cent month-on-month due to an outbreak of Covid-19 cases in the neighbouring province of Guangdong.
Macau GGR down 37 per cent in the second week of August
In the second week of August, Macau’s GGR was MOP78m(US$9.7m), down 37 per cent when compared to MOP125m (US$15.6m) in the first week. The figure, the lowest since last September, was the result of a community outbreak of Covid-19 during the first week of August.
Sanford C. Bernstein Ltd said Macau’s GGR plummeted due to travel restrictions intensified by mainland China due to the outbreak. The number of visitors declined 78 per cent when compared to the previous month.
According to authorities, the situation is now under control. The government carried out mass testing for Covid-19 in which 716,251 people were tested, all of them returning negative results. Leisure venues will be allowed to reopen from August 18.
Macau’s GGR for the first fifteen days of August was MOP1.55bn (US$193m). The month-to-date average daily rate is MOP103m (US$13m), down 87 per cent when compared to August 2019 levels and down 62 per cent compared to July’s figures.