Gambling revenue at Macau’s casinos fell 11% from the previous week, according to Citigroup’s Anil Daswani in a report received after yesterday’s close. The likely culprit: A rainstorm last week, though Daswani terms it a “minor setback.” Overall, he now expects May gaming revenue to increase 13% from a year ago.
Market share breaks down like this, according to Daswani’s numbers:
SJM (0880.HK): 24.3%
Las Vegas Sands’ (LVS) Sands China (1928.HK) :20.4%
Galaxy Entertainment (0027.HK): 18.8%
Meloco Crown Entertainment (MPEL): 13.2%
Wynn Resorts (WYNN): 12.5%
MGM Resorts International (MGM): 10.8%
Wynn has gained 3.1 percentage points of market share in May, making it the biggest winner, while Melco has lost 3.1 points, making it the biggest loser.
Update: Macau’s casino stocks are surging despite the off week. Las Vegas Sands has jumped 3.1% to $59.34 at 1:00 p.m. in New York, Wynn has climbed 2.5% to $141.36, MGM has risen 3.2% to $15.40 and Melco has gone up 2.7% 27.83.
WE DROPED 1.5 % IN MARKET SHARE THIS MONTH ...WHY?? WHY??
MORE GAMING TABLES OPENED ?? MORE HOTEL ROOMS OPENED !! WHY ??
BIRD FLU GETTING BIGGER THREAT TO MAINLAND CHINA CNBC TV REPORTS ???
Market share jumps around a lot from week to week or month to month and should be evaluated using a 3-month, moving average. That's particularly true given that market shares are not "hold adjusted".
More notewothy is the magnitude of market share by the cotai resort operators overall. Prior to Galaxy and Cotai Central, SJM typically snagged over 30% market share. Now, SJM's 24% share is much less, and the next 3 companies in terms of share are all operators of Cotai resorts. Sand's share now appears to be routinely above 20%.
Bret are you refering to me ?? If so remember i only posted the story ,,, blame barrons and the headline by ben levinson i did say earlier this week that revenue would be down because of bad weather did i not ???
just posting the truth just posting the truth thats all !! thats not bashing brett that is informational posting for investors ,, not day traders or options traders they could care less ,, they just manipulate the numbers thats all they do !!
Wondering if restrictions are being placed on travel to macau with the bird flu resurfacing again ..this time drug resistant !! remember china got in trouble with the world health orginazation last year for not releasing data early enough to combat the spread of sars i believe !!
it can't be just the rain responsible for the revenue drop can it !!