{"id":263922,"date":"2023-03-13T01:00:47","date_gmt":"2023-03-13T06:00:47","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=263922"},"modified":"2023-03-15T14:02:25","modified_gmt":"2023-03-15T19:02:25","slug":"sands-china-gains-macau-market-share-in-trying-2022","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/","title":{"rendered":"Sands China Bolstered Macau Leadership Last Year"},"content":{"rendered":"

While 2022 was a forgettable year for Macau\u2019s gaming industry as gross gaming revenue (GGR) slid to multiyear lows, Sands China found ways to make the best out of a bad situation, gaining market share from rivals.<\/p>\n

\"Sands
Sands China’s Venetian Macau, seen above. The company is gaining market share there. (Image: Wall Street Journal<\/em>)<\/figcaption><\/figure>\n

The Macau arm of Las Vegas Sands (NYSE: LVS) added market share across three key segments — mass, premium mass<\/a>, and VIP — while other concessionaires in the special administrative region (SAR) struggled to keep pace last year.<\/p>\n

\n

In a recent note to clients, Deutsche Bank analyst Carlo Santarelli pointed out that in 2022, Sands China\u2019s market share in the Asia-Pacific casino hub increased to 23.4% from 23.3% a year earlier. He added that the Venetian Macau operator made noticeable headway in terms of adding VIP market share in 2022, controlling 26.6% of that segment, just ahead of the 26.5% commanded by rival Meclo Resorts & Entertainment (NASDAQ: MLCO).<\/p>\n<\/div>\n

For Sands investors, that\u2019s an important fact for multiple reasons. First, the operator adding VIP shares against the backdrop of a collapsed Macau junket industry is impressive. Second, the company\u2019s Macau bread and butter has long been mass and premium mass patrons, while some rivals depended more on VIPs.<\/p>\n

Following the collapse of Macau\u2019s junket industry, concessionaires\u2019 ability to lure mass and premium mass bettors is crucial. Those players offer operators decent margins and often require less in the way of comps, meaning they spend on dining and rooms. Premium mass players typically play high-limit table games, though not at the stakes of their VIP counterparts.<\/p>\n

Galaxy, Other Sands Rivals Lose Share<\/h2>\n

Due to the coronavirus pandemic and the punitive travel restrictions employed by the Chinese Communist Party (CCP), the past three years were unusual for Macau\u2019s gaming industry.<\/p>\n

\n

Now things are returning to normal, and Sands China is among the operators analysts believe will benefit. Macau\u2019s newly revised gaming law includes limits on the number of table games each casino can offer<\/a>. That\u2019s beneficial to Sands and Galaxy, which were already dominant in the mass segment, because analysts expect the new requirements will compel operators to increase offerings geared toward mass and premium mass customers.<\/p>\n<\/div>\n

Still, Santarelli noted that Galaxy was among the concessionaires that lost share as Sands China gained last year. In the case of Galaxy, a sluggish VIP demographic was one of the primary culprits. Melco and Wynn Macau also endured reduced market share in 2022.<\/p>\n

Specific to Wynn Macau, analysts believe the operator has the ability to quickly shift<\/a> from focusing on VIPs to an emphasis on premium mass players, which could drive higher market share as 2023 unfolds.<\/p>\n

MGM, SJM Won Share, Too<\/h2>\n

In terms of won and lost market share among the six Macau concessionaires, 2022 saw an even split as three gained and a trio ceded share.<\/p>\n

Beyond Sands China, the other operators in the positive column were MGM China and Daisy Ho\u2019s SJM Holdings.<\/strong><\/p>\n

SJM’s performance is important because it\u2019s the most financially fragile of the Macau license holders and has the most room for upside in terms of adding VIP clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

While 2022 was a forgettable year for Macau\u2019s gaming industry as gross gaming revenue (GGR) slid to multiyear lows, Sands China found ways to make the best out of a bad situation, gaining market share from rivals. The Macau arm of Las Vegas Sands (NYSE: LVS) added market share across three key segments — mass, […]<\/p>\n","protected":false},"author":46,"featured_media":263923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nSands China Gains Macau Market Share In trying 2022<\/title>\n<meta name=\"description\" content=\"Sands China adds Macau market share in rough 2022 environment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sands China Gains Macau Market Share In trying 2022\" \/>\n<meta property=\"og:description\" content=\"Sands China adds Macau market share in rough 2022 environment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-13T06:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-15T19:02:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/SC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/\",\"url\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/\",\"name\":\"Sands China Gains Macau Market Share In trying 2022\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/SC.jpg\",\"datePublished\":\"2023-03-13T06:00:47+00:00\",\"dateModified\":\"2023-03-15T19:02:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sands China adds Macau market share in rough 2022 environment.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-china-gains-macau-market-share-in-trying-2022\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/SC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/SC.jpg\",\"width\":1280,\"height\":853,\"caption\":\"Sands China's Venetian Macau. 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