CASINO

Macau daily gambling news

TAGs: Galaxy Entertainment Group, Macau, Melco Crown Entertainment, SJM Holdings, wynn macau

sjm macauSJM Holdings is clinging onto its place at the top of Macau’s gaming industry. The figures quoted by Macau Business show the firm’s market share decreased to 25 percent in April – down from 27 percent the previous month. It means the strong-looking Galaxy Entertainment Group gained a percentage point to take it to 21 percent. Sands China followed the opening of Sands Cotai Central by rising from 17 percent to 18 percent and it will be a while longer until we can fully gauge the success of the new resort. Melco Crown held on to fourth place with a narrow lead over Wynn Macau as both companies skittered around the 13 to 14 percent mark. MGM China still ranks bottom of the pile with 10 percent – still 10 percent of MOP25 billion is a hell of a lot of loot.

Melco Crown Entertainment has announced that its first quarter results release will take place next week. The company will file them with the US Securities and Exchange Commission on May 9 at 8:30 a.m. ET.

Analysts are upbeat in regard to the chances of Wynn Macau after the company announced approval for its latest casino business. Deutsche Bank analyst Carlo Santarelli is quoted by the Las Vegas Review-Journal as stating: “We believe Wynn Cotai can generate stabilized 2017 (earnings before interest, taxes, depreciation and amortization) of $675 million.”

Allowing Wynn to set up in Cotai also led Santarelli to describe the situation of MGM and SJM as “precarious” due to the fact that Macau is only going to award one other land grant this year. Santarelli added: “MGM is farther along with respect to development plans, likely giving them a light edge”.

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