GGRAsia – Galaxy Ent grabs Macau GGR share in Oct

Galaxy Ent grabs Macau GGR share in Oct

Nov 04, 2015 Newsdesk Latest News, Macau, Top of the deck

Casino operator Galaxy Entertainment Group Ltd took the largest share of Macau’s casino gross gaming revenue (GGR) in October, according to local media reports. Galaxy Entertainment, founded by Lui Che Woo, moved to a 24.7 percent share in October, up 350 basis points on the prior month.

Macau’s casino GGR for October fell 28.4 percent year-on-year to MOP20.06 billion (US$2.5 billion), according to official data. It was the 17th straight month of GGR retreat measured year-on-year but the best monthly tally for the industry since May.

Sands China Ltd was ranked second for Macau GGR in October, with a market share of 23.1 percent, up by 180 basis points from September. SJM Holdings Ltd, September’s market leader, had 20.6 percent of the market in October, down 110 basis points on the prior month.

A number of investment analysts have suggested that SJM Holdings is likely to continue to lose share until the opening of Lisboa Palace on Cotai in late 2017.

“SJM continues to lose market share, in our view, as new openings take market share from weaker casino properties like Casino Lisboa and SJM satellite casinos,” said analysts of Japanese brokerage Nomura in a note on Wednesday.

SJM Holdings – operator of the Grand Lisboa and Lisboa casinos on Macau peninsula – on Tuesday said its gaming revenue decreased by 37.9 percent year-on-year in the third quarter. SJM Holdings said its gaming revenues accounted for 21.3 percent of Macau’s market in the three months ended September 30, as compared with 22.5 percent in the prior-year period.

Melco Crown Entertainment Ltd was in fourth place in Macau for October GGR with 13.5 percent, a month-on-month fall of 100 basis points. Wynn Macau Ltd was fifth with a market share of 9.3 percent, a month-on-month rise of 90 basis points, followed by MGM China Holdings Ltd with 8.7 percent, down 250 basis points from September.