Analysts are tipping super strong first quarter performances from MGM and Wynn Link copied
MGM China is about to exceed pre-pandemic gaming revenues for this quarter, analysts say, while Wynn Macau is gaining significant market share.
Casino operators Wynn Macau and MGM China are gaining significant market share in the first quarter of the year, according to a Morgan Stanley report cited in industry media.
The analysts predicted that the period will see MGM becoming the first of the territory’s six concessionaires to reach 100 percent of its pre-pandemic gaming revenue, or even exceed it.
They estimate that MGM’s mass market revenue at the end of March will stand at US$522 million – reportedly 101 percent of the total in 2019. Mass market share is estimated at 15.3 percent.
[See more: Covid-19 taught Macao’s casinos to keep their costs down and they plan to keep it that way]
Morgan Stanley attributes the strong performance to MGM being given authorisation for more gaming tables. It is operating 750 tables in 2023, compared to 553 before the pandemic.
The analysts meanwhile say that Wynn Macau will reach 76 percent of its 2019 mass market revenue in this quarter – US$511 million – with an estimated market share of 15 percent.
Gross gaming revenue at Macao’s casinos in February increased year-on-year from 7.7 billion patacas to 10.3 billion patacas – a jump of 33.1 percent.