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Sands China Ltd. Message Board

  • abcsurfnet abcsurfnet Oct 4, 2013 4:58 AM Flag

    SJM has biggest slice of September’s casino market

    SJM has biggest slice of September’s casino market
    10/04/2013

    SJM Holdings Ltd led the competition for casino gross gaming revenue last month with 25 percent of the market, one percentage point more than in August, according to data compiled by our sister publication, Business Daily.

    Sands China Ltd kept the second-largest share of the market – 22 percent or one percentage point less than in August.

    Galaxy Entertainment Group Ltd had 19 percent, two percentage points more, and Melco Crown Entertainment Ltd had 14 percent, the same as before.

    Wynn Macau Ltd had 11 percent, one percentage point less than in August, and MGM China Holdings Ltd had 10 percent.

    Macau’s casinos had MOP28.96 billion (US$3.62 billion) in gross gaming revenue last month, 21.4 percent more than a year earlier.

    Union Gaming Research Macau says it expects casino revenue this month to grow by between MOP32 billion or 16 percent and MOP33 billion or 19 percent.

    Sentiment: Strong Buy

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    • This is curious, because d-mac's post showed Sand's share at 22.7%, and this one appears to have maybe rounded it downward.

      Blitz is absolutely right about bottom-line killing incentives at SJM, and those incentives are only increasing as SJM falls further and further behind the curve with the on-going migration of patronage from downtown out to Cotai.
      I've compared income statements between Sands and SJM going clear back to the day's when SJM's Stanley Ho was declaring that Sand's "vegas" model would "never succeed", and that Macau "would always be a day-tripper, VIP-dominated industry".

      Macau gaming EBITDA derived from the mass markets just surpassed gaming EBITDA derived from VIP for the first time ever.

      S

    • I would speculate that SJM is offering all sorts of bottom line killing incentives to keep customers. LVS on the other hand has sold out hotel rooms, food, shopping and entertainment; all with minimal to zero discounting that boosts the bottom line.

      Thx for posting...

 
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