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MGM gained the most market share in January

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MGM China has gained the most market share in January, with its casino share increasing from 17.5 percent in December 2023 to 20 percent in January 2024, according to UBS.

In an investment note from the Global Research and Evidence Lab at UBS, analysts note that Macau’s mass and VIP gross gaming revenue (GGR) daily run rates were up 2 percent and 21 percent respectively, compared to 4Q23E, in January.

“MGM and Wynn gained market share in January at the expense of Sands, Galaxy, Melco, and SJM, in line with MGM’s management commentary.”

MGM was the biggest market share gainer, with a 20 percent market share in January, partly due to more events and positive luck in the VIP segment.

Wynn Macau has gained 0.5 percentage points in casino share, reaching 14 percent.

Sands and Galaxy emerged as the biggest market share donors, losing 1.2 percentage points of market share in January compared to 4Q23E. UBS says they remain positive in the sector and prefer MGM and Galaxy as sector top picks.

Even though Sands lost market share, as per the provided data, Sands China still holds the position of market share leader, with 24 percent.

SJM, a Macau gaming legacy, remains at the bottom with a market share of 12 percent. Melco experienced a decrease of 0.5 percentage points in casino share in January, resulting in a 13.5 percent market share.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

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