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Daily Asia Gaming eBrief: Wynn growth centered on premium mass

Good Morning. It is all in the premium. Seaport Research highlights that gaining premium mass market share in Macau is critical for Wynn’s growth over the next 1-2 years. According to senior analyst Vitaly Umansky, Wynn may increase its market share in 2024 but could lose some in 2025 due to competition from newer properties like Sands and Galaxy. Despite this, Wynn’s historical adaptability and refocus on premium mass offerings should help maintain its market position. At the same time, brokerage firm Maybank pointed out that Genting Malaysia Berhad net profit results surpassed expectations due to lower-than-anticipated tax rates.

What you need to know

  • Seaport Research identifies gaining premium mass market share in Macau as a crucial factor for Wynn’s growth in the next 1-2 years.
  • Genting outperformed profit expectations in 1Q24, with core net profit surpassing expectations due to lower-than-anticipated tax rates: Maybank.

On the radar


AGB Intelligence

MACAU

Strategic base mass marketing and historical adaptability to bolster Wynn

Gaining premium mass market share in Macau is crucial for Wynn’s growth over the next 1-2 years, according to Seaport Research. Key growth strategies include enhancing base mass marketing to increase mid-week and walk-in traffic. At the same time, despite losing some gaming tables following the 2022 concession renewals, this is not anticipated to significantly impact short-term growth, with Wynn also likely to be slower in adopting smart table technology compared to competitors. 


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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