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Sands, SJM seen leading market share gains: Morningstar

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Sands China and SJM Holdings are expected to lead the gains in market share this year due to the opening of their new properties, which will help to strengthen their premium mass business, according to research from Morningstar.

The firm said SJM Holdings is its preferred name in terms of potential market share gain, financial health and its current valuation.

SJM is scheduled to open its Grand Lisboa Palace resort on Cotai in the first half of this year, while Sands recently opened the Londoner, which was a revamp of its Sands Cotai Central property.

Macau gaming revenue continues to improve on a sequential basis, representing 31 percent of the pre-pandemic levels in the first quarter, and we expect the sector’s EBITDA to remain positive, Morningstar said. 

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