Sands China and CCTV.com to organise events in Macau
Sands China has partnered with China Central Television (CCTV) to host cultural events, sports activities, and educational programmes.
Macau.- Sands China has announced a partnership with CCTV.com to organise a range of online and offline tourism, sports and educational events. The two companies will develop new cultural brands, and promote existing ones to host plays, variety shows, movies, soap operas and online audiovisual content as well as events, tours, exhibitions and festivals. of
This is not the first agreement that Sands China has entered into to promote non-gaming activities in Macau. In 2023, it entered into a partnership with Tencent Video and Maoyan Entertainment to host events in the city.
Macau authorities have emphasised that the city should develop more non-gaming activities to diversify its economy. This was taken into account when considering applications for the new 10-year Macau gaming concessions that began last January.
Sands China continues to lead Macau GGR market share
Financial services firm Deutsche Bank has noted that Sands China contributed 26.6 per cent of Macau’s GGR in 2023. The proportion was up 3.2 percentage points at nearly US$6.03bn. Sands China was followed by Galaxy Entertainment Group which contributed 17.8 per cent of revenue (US$4.09bn).
MGM China’s share increased from 14.6 per cent to 16.3 per cent. Melco Resorts & Entertainment followed with 14.6 per cent (US$3.32bn), down 1.7 percentage points. Wynn Macau was in fifth position with 13.5 per cent, while SJM Holdings accounted for 12.1 per cent.
Mass-market results were led by Sands China with 26.6 per cent. According to Deutsche Bank, Macau’s mass market has recovered to 105 per cent of 2019 Q4 levels. VIP revenue is still 77 per cent lower than in 2019 due to the Chinese government’s crackdown on VIP gaming.
Wynn took 20.5 per cent of the VIP market share and Sands 17.2 per cent. Sands China led the market share in terms of property EBITDA with 34.2 per cent, a gain of 10.0 percentage points from the previous year.
