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<Research>UBS: SANDS CHINA LTD Continues to Hold Largest Mkt Shr in Aug, Up ~150 Bps MoM
Recommend 21 Positive 40 Negative 21 |
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Based on channel checks, the average daily GGR for QTD has increased by around 3% compared to the previous quarter, while the average daily VIP gaming revenue has increased by about 15%, UBS wrote in its research report. SANDS CHINA LTD (01928.HK) continued to hold the largest market share in August, with a MoM growth of around 150 bps, which the broker attributed to seasonal summer factors, intensified market promotions, and the room availability at The Londoner Macao since April. In addition, Melco Resorts & Entertainment (MLCO.US) saw its market share rebound by 150 bps in August, narrowing the QTD market share decline to 140 bps QoQ. GALAXY ENT (00027.HK)'s market share grew by 50 bps, achieving a QTD increase of 70 bps. MGM CHINA (02282.HK) saw a MoM decline of 250 bps, with a QTD market share drop of 60 bps, but it still remained in the mid-double-digit range. WYNN MACAU (01128.HK) experienced a MoM decline of 100 bps in market share, but still achieved a QTD growth of 100 bps. SJM HOLDINGS (00880.HK) maintained its market share in August but saw a QTD decline of 50 bps. UBS noted that SANDS CHINA LTD held a 23.5% market share in Macau's gaming industry in August, GALAXY ENT 21.5%, WYNN MACAU 13%, Melco Resorts & Entertainment 15%, MGM CHINA 15%, and SJM HOLDINGS 12%. AAStocks Financial News |
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