Sands China continues to lead Macau GGR market share

Its market share grew to 26.6 per cent in 2023.

Macau.- 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. Galaxy Entertainment came second, with a property EBITDA share of 20.8 per cent, followed by Wynn Macau, with a 14.8 per cent share. MGM China had a 13.4 per cent share in terms of property EBITDA and Melco Resorts 12.5 per cent. SJM Holdings saw the sharpest decline, with an EBITDA market share of 3.4 per cent in 2023.

Macau’s GGR for 2023 was MOP183.06bn (US$22.75bn). That’s a rise of 333.8 per cent when compared to 2022. The rise was attributed to the end of travel and other Covid-19-related restrictions last January.