Analysts at Citigroup Global Markets say Sands China has overtaken Galaxy Entertainment Group as the leader in the premium mass market.<\/p>\n\n\n\n\n\n\n\n
Macau.- According to a report from Citigroup Global Markets Inc., Sands China Ltd is currently leading Macau’s ‘premium mass’ gambling segment with a market share of approximately 24 per cent. The report says the group has managed to overtake Galaxy thanks to offerings at the Londoner Macao and Plaza. <\/p>\n\n\n\n
The premium mass segment, which involves cash play at high minimum bets, is a key area of competition among Macau operators under their new concessions. Citigroup’s report shows only 249 premium mass players market-wide in February 2023. Wagers totalled about 53 per cent of that reported in March 2019, suggesting that the recovery in premium mass continues to outpace that of Macau visitor arrivals.<\/p>\n\n\n\n
Sands China’s Londoner Macao resort <\/strong>had bets that averaged approximately HKD25,000 per hand. Wynn Macau Ltd was the most improved operator, with a 22 per cent share of premium mass wagers in February versus only circa 16 per cent in January. Citigroup said MGM China Holdings was potentially experiencing some normalisation in its premium mass market share.<\/p>\n\n\n\n Sands China <\/strong>has made a preliminary announcement of its annual results for the year ended December 31, 2022. Net revenue was down 44.2 per cent from HK$22.42bn (US$2.87bn) to HK$12.51bn (US$1.61bn). The company reported a loss of HK$12.33bn (US$1.58bn), compared to a loss of HK$8.17bn (US$1.05bn) in 2021.<\/p>\n\n\n\n The Group\u2019s adjusted property EBITDA <\/strong>for 2022 was a loss of US$323m (HK$2.52bn) compared to US$341m (HK$2.66bn) in 2021. Net casino revenues were US$947m, a decrease of 52.3 per cent from US$1.99bn. The decrease in net casino revenues occurred across all properties, primarily due to a decline in visitation.<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at Citigroup Global Markets say Sands China has overtaken Galaxy Entertainment Group as the leader in the premium mass market.<\/p>\n","protected":false},"author":176,"featured_media":26451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China Ltd has reportedly surpassed Galaxy Entertainment Group to lead Macau's premium mass gambling segment with a 24% market share, driven by offerings at The Londoner Macao and Plaza. This competitive shift occurs as the premium mass segment's recovery outpaces overall visitor arrivals, despite Sands China reporting a net revenue of US$1.61bn and a net loss of US$1.58bn for 2022.","focusai_entities":"Sands China Ltd, Galaxy Entertainment Group, Citigroup Global Markets Inc., Wynn Macau Ltd, MGM China Holdings","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.98), investor_analyst (0.97), supplier_vendor (0.75), journalist_researcher (0.92)","focusai_suggestions":[{"label":"Sands China's Premium Mass Strategy?","query":"What specific operational or marketing initiatives at The Londoner Macao and Plaza enabled Sands China to achieve premium mass market leadership over Galaxy Entertainment Group?"},{"label":"Macau Market Recovery Outlook?","query":"Given the premium mass recovery outpacing overall visitor arrivals, what are the projected timelines for full market-wide GGR recovery in Macau, and how might this impact future concession terms?"}],"footnotes":""},"categories":[157,16338],"tags":[21680],"class_list":["post-777002562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777002562"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002562\/revisions"}],"predecessor-version":[{"id":777002598,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002562\/revisions\/777002598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26451"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sands China posts revenue of US$1.61bn for 2022<\/h2>\n\n\n\n