CASINO

Wynn Macau holds court with top earnings in April

TAGs: Casino News, Steve Wynn, wynn macau

wynn-resorts-macau-cotai-approvalWynn Macau was the big winner amongst all casinos in Macau in the battle for gross gaming revenue supremacy in the first quarter of this year. Somewhere in Las Vegas, Steve Wynn’s probably cracking that rollicking laugh of his.

According to Jornal Tribuna de Macau, Wynn Macau came in first in gross gaming revenue from January to March this year, raking in MOP9.7 billion ($1.2 billion), almost MOP1 billion more than second place finisher Galaxy Macau, which earned MOP8.88 billion in gross gaming revenue for the first three months of the year.

Coming in third was SJM Holdings’ Grand Lisboa at MOP8.6 billion, followed by Melco Crown’s City of Dreams at MOP8.2 billion, and MGM China Holdings Ltd. at MOP8 billion. Notice the close proximity of second to fourth places? That suggests strong competition that can change on any given month, something that has spurred Macau to be the unquestioned gambling capital of the world.

Proof of that lies in the casinos who didn’t even make it to the top 5 money earners in the first quarter of 2013 yet still showed some impressive gross gaming revenues. The Venetian Macao, which finished sixth on the list, tok home MOP7.3 billion while another one of Galaxy Entertainment’s properties – StarWorld – followed with MOP5.86 billion.

Despite having Wynn Macau posted as the king of the casinos in Macau, Wynn Resorts still ranks fifth in market shares in the gambling town partly because it only has one casino in the city compared to multiple from its rivals. That title is held by SJM Holdings with a 27 percent market share on the strength of having the most casinos in Macau. On the flip side, Wynn Macau only held 11 percent of the market share in March, lower than second place finisher Sands China with a 21 percent share and Galaxy Entertainment with an 18 percent share.

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