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Sands China with highest Macau market share in 3Q24, SJM sees highest sequential share increase

Sands China remained the operator with the largest market share in the Macau SAR during the third quarter of 2024, however, SJM reported the only sequential increase in market share among the city’s six gaming concessionaires, data published by Deutsche Bank shows.

In aggregate, the brokerage points out that the total GGR registered in the Macau market in the third quarter from the six gaming concessionaires was $6.8 billion, slightly declining from the $6.9 billion registered in the third quarter. 

In the Macau gaming market for Q3 2024, Sands China lead with a market share of 24.5 percent, followed by Galaxy Entertainment Group at 19.1 percent, Melco Resorts with 14.7 percent, closely followed by MGM Macau with 14.8 percent, Wynn Macau with 12.8 percent, and SJM Holdings with 14.1 percent.

Macau gaming operators market share
Market share held by the Macau Big Six during Q3 of 2024

SJM Holdings reported a total GGR of $890 million in Q2 2024, which increased to $967 million in Q3, being the only of Macau’s six gaming operators to report a quarter-to-quarter increase.

Grand Lisboa Palace, SJM Resorts, Macau

Its market share rose from 12.7 percent in Q2 to 14.1 percent in Q3, indicating SJM’s efforts to regain footing in the competitive landscape, especially in the VIP segment. 

In terms of mass gaming, SJM’s mass GGR increased from $821 million in Q2 to $867 million in Q3, with its mass-market share rising from 13.4 percent to 14.3 percent. Additionally, SJM’s VIP GGR grew from $69 million in Q2 to $100 million in Q3, with its VIP market share increasing from 8.1 percent to 12.4 percent.

Melco Resorts experienced a decrease in total GGR from $1.04 billion in Q2 to $1.01 billion in Q3 2024. Its market share slightly decreased from 14.9 percent to 14.7 percent. 

City of Dreams Macau, Melco Resorts

Despite this drop in GGR, Melco remains competitive through targeted strategies, particularly in the premium mass market segment. For mass gaming, Melco’s mass GGR was $877 million in Q2 and slightly decreased to $854 million in Q3, maintaining a market share of 14.1 percent. In the VIP segment, Melco’s VIP GGR rose from $168 million in Q2 to $159 million in Q3, with a VIP market share of 19.6 percent.

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Mass market share held by the Macau Big Six during Q3 of 2024
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VIP market share held by the Macau Big Six during Q3 of 2024

MGM Macau’s total GGR fell from $1.12 billion in Q2 to $1.01 billion in Q3. Its market share also dropped from 16.1 percent to 14.8 percent. This decline may be attributed to increased competition from other operators and shifting consumer preferences.

MGM China, Cotai-Macau

In mass gaming, MGM’s mass GGR increased from $1,012 million in Q2 to $922 million in Q3, with a market share of 15.2 percent. MGM’s VIP GGR decreased from $112 million in Q2 to $93 million in Q3, leading to a drop in its VIP market share from 13.2 percent to 11.5 percent.

Sands China maintained steady performance, reporting a total GGR of $1,710 million in Q2, slightly declining to $1,682 million in Q3. Its market share remained consistent at 24.5 percent. Sands China’s diversified offerings, including shopping and dining, continue to attract visitors.

In the mass market segment, Sands reported a mass GGR of $1.53 billion in Q2, which slightly declined to $1.50 billion in Q3, with a market share of 24.8 percent. In the VIP segment, Sands China’s VIP GGR rose from $179 million in Q2 to $177 million in Q3, with a VIP market share of 21.8 percent.

Wynn Macau’s total GGR decreased slightly from $887 million in Q2 to $880 million in Q3. Its market share remained steady at 12.8 percent. However, Wynn faced challenges in attracting high-rolling VIP players, impacting its growth potential. 

Wynn Palace, Macau

In the mass market, Wynn’s mass GGR was $746 million in Q2 and marginally decreased to $739 million in Q3, with a market share of 12.2 percent. Wynn’s VIP GGR remained stable at $141 million for both Q2 and Q3, with a VIP market share of 17.3 percent.

Galaxy Entertainment Group showed a slightly different trend, with total GGR increasing from $1,33 billion in Q2 to $1,31 billion in Q3. Its market share remained stable at 19.1 percent. Galaxy’s focus on entertainment and integrated resort experiences has resonated well with guests, solidifying its position as a market leader. 

Galaxy Entertainment, Raffles Hotel, Macau

In the mass market, Galaxy’s mass GGR rose from $1,15 billion in Q2 to $1,16 billion in Q3, with a market share of 19.3 percent. In the VIP segment, Galaxy’s VIP GGR decreased from $179 million in Q2 to $142 million in Q3, leading to a VIP market share of 17.5 percent.

Nelson Moura
Nelson Mourahttp://agbrief.com
Editor and reporter with 10 years of experience in Greater China, namely Taiwan and Macau, in printed and online media, with a focus on finance, gaming, politics, crime, business and social issues.

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