The fight for market share among Macau gaming operators is becoming a concern among investors, while the Asia gaming hub is expected to experience a moderating pace of revenue recovery in 2024.

Gaming operators in Macau are pulling out all the stops to get customers, with their player reinvestment (PRI) schemes, effectively comping, reaching stunning figures as each vies for market share. Expert Ben Lee notes that the process isn’t new, but that different operators choose different ways to mask their programs.

It’s comparison time, as IGamiX Managing Partner Ben Lee takes a look at three top Asian gaming hubs: Macau, the Philippines and Singapore, and describes which operators gained most and which lost out as demographics, legislation and visitation shifted. The Philippines, for example, has witnessed a considerable development according to Lee, thanks to the “fantastic growth seen in Manila”. Meanwhile, S&P Global Ratings expects that Macau’s real GDP will rebound strongly by about 78 percent in 2023 and then 10 percent in 2024.

Earlier this month, Macau’s six gaming operators filed their second quarter results for 2021, rounding off a three-month period of mixed fortunes. In today’s By The Numb3rs infographic, we take a look at how VIP and mass-market shares shifted in the quarter compared to 2019, and some of the company’s key messages from their earnings calls. See it here.

In August, Macau's six gaming concessionaires and sub-concessionaires filed their second-quarter results, rounding off a three-month period of mixed fortunes. 

MGM China has announced its continued resurgence in the first quarter of the year, with record high adjusted EBITDA and market share during the period.

The Chinese government may launch a visa multi-entry visa between Macau and Hengqin for Chinese tour groups as soon as next month, a source familiar with the matter told AGB.

Brokerage Morgan Stanley is revising down its estimates for Sands China, now predicting that the company will garner EBITDA of some $2.4 billion for 2024, down 8 percent compared to previous estimates.

Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.

Macau's shift to effectively eliminate junkets and control credit-issuing options is strongly in line with the policies that both the Macau and mainland Chinese government are after, notes an expert.