Sands continues to lead gaming market with 24.9% share in Q2

Sands China has continued to lead the local gaming market in the second quarter (Q2) of this year with a total share of 24.9%, as data published by German multinational investment bank and financial services company, Deutsche Bank, showed.
According to the same data release, Sands China’s market share grew by 0.8% over the same period.
Coming in after Sands China was Galaxy Entertainment Group (GEG), which scored a market share of 20.4% in Q2, a figure representing a decline of 0.8% when compared quarter-on-quarter with the first quarter of this year.
Melco Resorts held the third-largest share with 17.9%, followed by Wynn Macau with 13.7%, SJM Holdings, and MGM China, with shares of 11.7%, and 11.3%, respectively.
According to the data analysis made by Deutsche Bank, the results from Sands China are underpinned by the mass market gaming sub-sector, where the gaming concessionaire also maintained its dominance with a 25.1% share. GEG came in after Sands China again, retaining17.8% of the share.
The only sub-sector in which GEG overtook the earnings of Sands China was the VIP market, where the concessionaire dominated with a market share of as much as 28.1%, totaling to MOP6.25 billion. Sands China followed in this sub-sector scoring 22.5%.
Melco Resorts was the third largest in the VIP market, scoring 19.9%, a significant result that showed a 5.8% growth quarter-to-quarter.
Wynn Macau was fourth with 14.2% and MGM China and SJM Holdings completed the list of six, respectively with 9.2% and 6.1% of the market share.
In general terms, Q2 saw the results increase by 12.5% for the mass market , while the VIP market registered a drop by 5.2% quarter-on-quarter.

Weekly results continue to plummet
Following the first week of August where casino revenues reverted to the levels of September last year and registered a daily decline by as much as 48%, the second week did not show signs of recovery as results continued to plummet.
According to the weekly report from investment research and institutional asset management company, Sanford C Bernstein Ltd, the gross gaming revenue (GGR) for the period between August 9 to 15 was down by 37% week-on-week, registering the lowest weekly result since September 2020.
The brokerage company estimated that the average daily rate for the second week of the month stood at about MOP78 million recording the “lowest daily GGR since late September,” analysts reported.
According to last week’s report, the company justifies the significant drop as a result of the aftermath of the travel restrictions imposed by both Macau and the neighboring regions to visit the Asian gaming Mecca after several Covid-19 cases had been detected in both Macau and the neighboring cities.
This is also confirmed by the average number of visitors registered by Macau during the second week of August, showing a decline of 78% from July’s average.
Nevertheless, Sanford Bernstein also noted that after August 12, following the easing of border restrictions and the validity of the nucleic acid tests changing from 12 hours to 48 hours, the visitor numbers have gradually begun to recover. By the end of last week, numbers had risen to 50% below the July average.