Market share comparação
ab26
O lucro total das seis concessionárias de jogo em Macau ascendeu a 32,524 mil milhões de patacas no ano passado, um aumento de 10,89% em relação aos 29,33 mil milhões de patacas registados em 2024. A Galaxy continua a ser a operadora com a conta mais positiva, tendo lucros líquidos de 10,6 mil milhões de patacas, enquanto a SJM foi a única concessionária que apresentou prejuízos, de 200 milhões de patacas.
As concessionárias de exploração de jogo em Macau continuaram com operações positivas ao longo do ano passado, com lucros totais que aumentaram 10,89% em comparação com o ano anterior. As receitas líquidas das concessionárias atingiram 32,524 mil milhões de patacas em 2025, sendo que o montante tinha sido de 29,33 mil milhões de patacas no ano anterior.
De acordo com o Relatório de Actividades relativo ao ano 2025, publicado pelas concessionárias em Boletim Oficial, cinco operadoras fecharam o ano passado com lucro, com a excepção da SJM.
A Galaxy Casino, S.A. foi novamente a empresa concessionária que ficou com a conta mais positiva, cujo resultado líquido de exercício demonstra lucros líquidos de 10,6 mil milhões de patacas, o que corresponde a um aumento de 25% relativamente ao ano anterior. Os resultados financeiros apontam que a Galaxy contabilizou uma receita líquida de 47,7 mil milhões de patacas, um aumento de 15% em termos anuais.
Quanto ao desempenho dos seus casinos, a receita bruta de jogo na Galaxy foi de 50,6 mil milhões de patacas, mais 19% face a 2024. A receita bruta no segmento de massas foi de 37,6 mil milhões de patacas (+10%), enquanto que no segmento VIP foi de 9,8 mil milhões de patacas (+79%). Já o jogo electrónico obteve uma receita bruta de 3,2 mil milhões de patacas, um acréscimo em relação ao ano anterior de 14%.
A empresa presidida por Francis Lui destacou que se está a avançar com os acabamentos da Fase 4 do empreendimento, que conta com 1.350 quartos e suites no hotel, juntamente com um teatro com cerca de 5.000 lugares. A infraestrutura será equipada com restauração, lojas, comodidades não relacionadas com o jogo, paisagismo, um terraço aquático e um casino. Segundo a operadora, a conclusão da Fase 4 está prevista para 2027.
A MGM Grand Paradise S.A., por sua vez, revelou que a sua receita total de 2025 foi de 35,8 mil milhões de patacas, um acréscimo na ordem de 10,8% em comparação com a receita total de 32,3 mil milhões de patacas de 2024. O EBITDA ajustado ascendeu a aproximadamente 10,3 mil milhões de patacas.
Até ao final do ano passado, a MGM, que conta com Pansy Ho no cargo de Administradora delegada, gerou um lucro de 6,4 mil milhões de patacas, mais 12,28% comparando com o valor de 5,7 mil milhões de patacas obtido em 2024. A receita bruta nos seus casinos cresceu 10,8%, correspondendo a 35,9 mil milhões de patacas.
A concessionária sublinhou ter melhorado a sua posição de mercado de jogo, “apesar da concorrência cada vez mais intensa no mercado de jogos de Macau”, graças a força do segmento ‘premium mass’ onde o MGM MACAU e o MGM COTAI se encontram “competitivamente posicionados”.
https://pontofinal-macau.com/2026/04/29/concessionarias-de-jogo-registaram-lucro-total-de-32-mil-milhoes-de-patacas-em-2025/
mar26
MGM Resorts’ CEO says that the extremely competitive market in Macau means that “it’s a dog fight” for market share.
Despite the intense competition, the company’s CEO Bill Hornbuckle noted that “the luck gods were with us” in 2025 and in the first quarter, however expectations are not as high for the rest of this year.
“The expectations we’ve set for the market for the year particularly are on track, and then some,” noted the executive.
This is boosted by assets “put in play mid-season last year”, set to benefit the company for the full year in 2026, including the Alpha Club in Macau, 124 new “workhorse suites in Cotai”- set to debut “next month” and converted suites across three floors.
“Premium […] has really made a difference. We’re pushing hard into that. We’ve enjoyed a 15 percent or so [market] share, and I think over time we’ll continue to do that. I don’t think the market changes much in that context,” noted Hornbuckle.
https://agbrief.com/news/macau/13/03/2026/mgm-resorts-ceo-its-a-dog-fight-for-market-share-in-macau-pushing-hard-into-premium/?utm_source=Asia+Gaming+Brief&utm_campaign=2c7d6424b3-AGB%3A+%2302344+Friday%2C+13th+March%2C+2026&utm_medium=email&utm_term=0_51950b5d21-2c7d6424b3-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2302344+Friday%2C+13th+March%2C+2026%29&goal=0_51950b5d21-2c7d6424b3-%5BLIST_EMAIL_ID%5D&mc_cid=2c7d6424b3&mc_eid=31e20475e6
fev26 WYNN
Wynn Resorts’ Profit Squeeze: How a Cooling Las Vegas Strip and Macau Headwinds Are Testing the Casino Giant’s Playbook
dez25
https://www.macaubusiness.com/catching-up-2/
jun25
Sands China and Galaxy Entertainment emerged as the primary beneficiaries of Macau’s gaming market expansion in May, with both operators gaining significant market share through strategic hotel launches and room inventory increases, according to the latest investment memo from UBS.
Sands China recorded the most substantial gains, with market share climbing 200 basis points month-over-month in May to reach 23.5 percent, according to industry channel checks cited in the UBS memo. The increase was primarily attributed to the launch of additional Londoner Grand rooms since mid-April, combined with potentially higher promotional activities. The performance brought Sands’ quarter-to-date market share up approximately 70 basis points quarter-over-quarter.
Galaxy Entertainment followed as the second-largest market share gainer, recording a 100 basis points increase month-over-month in May to reach 21 percent and 50 basis points quarter-to-date. The gains were driven by the soft opening of the Capella Hotel in early May, marking the introduction of ultra-luxury accommodations to the operator’s portfolio.
https://agbrief.com/news/macau/05/06/2025/londoner-rooms-capella-hotel-boost-sands-and-galaxy-may-share/?utm_source=Asia+Gaming+Brief&utm_campaign=73524ca339-AGB%3A+%2302155+Thursday%2C+05th+June%2C+2025&utm_medium=email&utm_term=0_51950b5d21-73524ca339-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2302155+Thursday%2C+05th+June%2C+2025%29&goal=0_51950b5d21-73524ca339-%5BLIST_EMAIL_ID%5D&mc_cid=73524ca339&mc_eid=31e20475e6
dez24
As seis operadoras de jogo registaram lucros operacionais de quase 47 mil milhões de patacas nos primeiros nove meses deste ano, com metade desse valor a ser arrecadado pela Sands China e Galaxy Entertainment. Os ganhos totais subiram 29% em termos anuais e equivaleram a 83% do montante contabilizado no período homólogo de 2019, sendo que no caso da MGM China excederam o nível pré-pandemia em 52%. No “ranking” das receitas brutas do jogo, a Sands manteve a liderança, mas a competição é cada vez mais intensa, estreitando a relação de forças
https://jtm.com.mo/local/sands-galaxy-geram-metade-dos-ganhos-das-concessionarias/
nov24 FUTURO
Overall Sands and Galaxy are expected to maintain their leadership positions of over 20 percent market share each, at the expense of MGM China, Melco, SJM and Wynn.
Sands will continue to lead
The analysts point out that, while Sands is expected to maintain its dominant position, ‘a return of base mass is crucial’, with management noting a break in correlation between visitation and gaming revenue.
To tap this, the reopening of The Londoner Grand Casino, accompanied by more rooms coming online and driving attendance at its revamped Venetian Cotai Arena (opening in December of this year) will be key.
Regarding rooms, some 1,300 Londoner suites and rooms should come online by Chinese New Year of 2025, with 1,500 suites and 905 rooms in service by Golden Week of 2025.
This should help boost GGR by 14 percent yearly in 2025, increasing its market share to 25.7 percent.
Galaxy a close second
Looking at Galaxy, the analysts note that ‘its entertainment strategy has paid off as […] programs are player centric with positive impact to both gaming and non-gaming revenues’.
A particular highlight is enhancements to stay competitive, including upgrades to its gaming floor and lobby at StarWorld, the opening of Hotel Capella at Galaxy Macau – with 100 ultra-luxury sky villas and suites, its strong focus on non-gaming in Galaxy Macau Phase 4 (expected to be completed in 2027 and include new high-end hotel brands and a 5,000-seat theater, water resort deck and casino) and its ramp up of its convention center, Arena, Raffles and Andaz hotels.
GGR for Galaxy is expected to increase by 16 percent in 2025, raising its market share to 20 percent.
Market share shifts
Predictions for market share vary over the coming years, despite Sands and Galaxy maintaining their dominance.
MGM is expected to record market share of 15.6 percent this year, shrinking to 14.2 in 2025 and further falling to 14 percent in 2026.
Wynn is predicted to have 13.4 percent market share this year, up to 13.5 in 2025 and remaining so in 2026.
For SJM, market share of 13.1 percent is expected in 2024, down to 12.7 percent in 2025 and 12.1 percent in 2026.
Jefferies only covers the five operators, excluding Melco from their estimates.
https://agbrief.com/news/macau/22/11/2024/shifts-expected-in-macau-gaming-dynamics-in-coming-years-but-sands-and-galaxy-to-maintain-dominance-jefferies/?utm_source=Asia+Gaming+Brief&utm_campaign=dba9c6f555-AGB%3A+%2302031+Friday%2C+22nd+November%2C+2024&utm_medium=email&utm_term=0_51950b5d21-dba9c6f555-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2302031+Friday%2C+22nd+November%2C+2024%29&goal=0_51950b5d21-dba9c6f555-%5BLIST_EMAIL_ID%5D&mc_cid=dba9c6f555&mc_eid=31e20475e6
nov24
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.
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.
https://agbrief.com/news/macau/18/11/2024/sands-china-with-highest-macau-market-share-in-3q24-sjm-sees-highest-sequential-share-increase/?utm_source=Asia%20Gaming%20Brief&utm_campaign=750f47c63d-AGB%3A%20%2302027%20Monday%2C%2018th%20November%2C%202024&utm_medium=email&utm_term=0_51950b5d21-750f47c63d-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A%20%2302027%20Monday%2C%2018th%20November%2C%202024%29&goal=0_51950b5d21-750f47c63d-%5BLIST_EMAIL_ID%5D&mc_cid=750f47c63d&mc_eid=31e20475e6
ago24
According to data provided by Deutsche Bank, Sands China lost some market share in the mass segment, dropping from 25.6 percent in 1Q24 to 24.9 percent by the end of 2Q24.
Despite this, the operator gained ground in the VIP segment, with its market share increasing from 14.2 percent in 1Q24 to 21.1 percent in 2Q24.
Sands China is the only one of the six gaming operators with a market share above 20 percent. This success is attributed to its strong hotel room inventory and retail offerings across various integrated resorts in the Cotai Strip.
Galaxy Entertainment Group (GEG) ranked second with a 19.1 percent GGR market share.
GEG achieved market share gains both quarter-over-quarter and year-over-year. The company holds an 18.8 percent share in the mass segment, while its VIP business slightly edged out Sands China, also holding a 21.1 percent share.
According to data derived from the financial results of the six gaming operators, the rising star MGM, which benefited from adding more gaming tables earlier last year, captured a 16.1 percent GGR share. Although this figure was up year-over-year, it declined sequentially.
Meanwhile, Melco slightly outpaced Wynn and SJM, securing a 14.9 percent GGR share in 2Q24.
Both Wynn and SJM held a 12.7 percent share, placing them last among industry peers.
https://agbrief.com/news/macau/28/08/2024/sands-china-maintains-macau-ggr-market-share-lead-in-2q24/?utm_source=Asia+Gaming+Brief&utm_campaign=41dc3281fc-AGB%3A+%2301974+Thursday%2C+29th+August%2C+2024&utm_medium=email&utm_term=0_51950b5d21-41dc3281fc-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2301974+Thursday%2C+29th+August%2C+2024%29&goal=0_51950b5d21-41dc3281fc-%5BLIST_EMAIL_ID%5D&mc_cid=41dc3281fc&mc_eid=31e20475e6
jun24
Macau concessionaire Galaxy Entertainment Group should reclaim some of its lost market share over the next 12 to 18 months, aided by a shake-up in its salesforce and a recent reconfiguration of the gaming floor at Galaxy Macau, according to investment group CLSA.
The expected improvement follows two consecutive quarters of GGR market share declines which saw GEG hit 17.4% share in 1Q24, down from 18.4% in the September 2023 quarter. According to CLSA analysts Jeffrey Kiang and Leo Pan, share should steadily recover to 18.2% by the end of this year and as high as 18.8% by early 2026, aided in part by ongoing renovations at rival Sands China’s The Londoner Macao and a stabilization of share for MGM China, which has enjoyed significant gains in recent quarters.
https://www.asgam.com/index.php/2024/06/11/galaxy-seen-reclaiming-market-share-as-clsa-raises-macau-ggr-and-ebitda-forecasts/
mai24
A Sands China voltou a dominar o “ranking” das receitas brutas do jogo no primeiro trimestre deste ano, no entanto, tal como a Galaxy, sofreu uma redução da sua quota de mercado, sobretudo devido ao crescimento da MGM, que saltou para a liderança no segmento VIP, e da Wynn. No intervalo de um ano, a diferença entre as quotas da primeira e sexta operadoras desceu de 15,8 para 11,6 pontos
QUOTAS DE MERCADO NO 1º TRIMESTRE DE 2024
RECEITAS TOTAIS
1-Sands (24,2%)
2-Galaxy (17,6%)
3-MGM (17,1%)
4-Melco (14,4%)
5-Wynn (14,2%)
6-SJM (12,6%)
MERCADO DE MASSAS
1-Sands (25,7%)
2-Galaxy (17,4%)
3-MGM (16,5%)
4-Melco (14,1%)
5-Wynn (13,3%)
6-SJM (13,1%)
SEGMENTO VIP
1-MGM (21,3%)
2-Wynn (20,4%)
3-Galaxy (18,6%)
4-Melco (16,3%)
5-Sands (14,2%)
6-SJM (9,2%)
https://jtm.com.mo/local/bolo-jogo-tem-fatias-mais-equilibradas/
may24
According to data compiled by Deutsche Bank, in the first quarter of 2023 both Sands China and GEG held about 45.7 percent of the, at the time, ‘Big Six’ total GGR of $4.2 billion, a share of the cake that has now dropped by 3.9 percent, with that slice divided up between the other four operators.
Among the market share gainers, MGM China reported the largest market share increase (+1.7 percent) followed by Wynn Macau, SJM (+0.9 percent), and Melco Resorts & Entertainment (+0.4 percent).
By the end of the first quarter, the now $7 billion GGR share held by each of the six gaming operators in Macau from top to bottom was the following:
- Sands (24.2 percent)
- Galaxy (17.6 percent)
- MGM China (17.1 percent)
- Melco (14.4 percent)
- Wynn (14.2 percent)
- SJM (12.6 percent)
mar24
The fight for market share among Macau gaming operators is becoming a concern among investors, while the Asia gaming hub is expected to experience a moderating pace of revenue recovery in 2024.
After an impressive rebound in 2023, Macau gaming companies are facing intensifying competition and normalizing visitation. Therefore, 2024 is expected to be a year of finding a new normal.
Based on research from CLSA, analysts Jeffrey Kiang and Leo Pan indicate that the pace of GGR normalization will be the key focus this year, particularly ‘the growth trajectory of mass revenue, which has already largely normalized in 4Q23.’
Last year, Macau’s GGR returned to 74 percent of pre-COVID levels in October, as that month recorded the highest monthly GGR since the pandemic outbreak in early 2020.
Additionally, Macau’s tourism demonstrated an improved appeal as a travel destination, with the length of stay being extended. At the same time, Macau had ‘healthier’ and ‘steady’ visitation compared to its neighbor Hong Kong.
https://agbrief.com/news/macau/10/03/2024/macau-gaming-market-share-fight-amid-moderating-pace-of-revenue-recovery/?utm_source=Asia+Gaming+Brief&utm_campaign=6dd1563ae8-AGB%3A+%2301856+Friday%2C+08th+March%2C+2024_COPY_01&utm_medium=email&utm_term=0_51950b5d21-6dd1563ae8-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2301856+Friday%2C+08th+March%2C+2024_COPY_01%29&goal=0_51950b5d21-6dd1563ae8-%5BLIST_EMAIL_ID%5D&mc_cid=6dd1563ae8&mc_eid=31e20475e6
fev24
Aconcessionária MGM China terá
alcançado uma quota de 20 por
cento do mercado de jogo em Janeiro.
O número foi revelado por Bill Horn-
buckle, presidente da MGM Resorts,
empresa que detém a maioria do capital
social da concessionária.
“Macau está a ter um desem-
penho fantástico. Sei que alguns
dos nossos concorrentes estão a
questionar-se sobre o que estamos
a fazer”, afirmou Bill Hornbuckle,
durante a apresentação dos resulta-
dos aos analistas, de acordo com o
portal GGRAsia.
O americano deixou depois elogios
a Kenneth Feng, presidente e director
executivo da MGM China: “O Kenny
e toda a equipa conseguiram quebrar a
barreira dos 20 por cento de quota de
mercado durante o mês de Janeiro”,
afirmou Hornbuckle
Hoje Macau 16/2/24
jan24
Market share
- Sands China – Nov. 2019: 24 percent; Nov.2023: 24.5 percent; nov24:24,5
- Galaxy – Nov. 2019: 19.5 percent; Nov. 2023: 16.5 percent nov24:19.1
- MGM China – Nov. 2019: 10 percent; Nov. 2023: 16.5 percent nov24:14,8
- SJM – Nov. 2019: 16.5 percent; Nov. 2023: 13 percent nov24:14.1
- Melco – Nov. 2019: 16.5 percent; Nov. 2023: 15.5 percent; nov24:14.7
- Wynn – Nov. 2019: 13.5 percent; Nov. 2023: 14 percent; 12,8
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