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Sands China generated more than a quarter of Macao’s GGR last year

The gaming operator was the biggest gainer among Macao’s six concessionaires, with its share of GGR rising to nearly 27 percent.

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Sands China’s share of Macao’s gross gaming revenue (GGR) grew to 26.6 percent in 2023, making it the biggest gainer of the SAR’s six gaming concessionaires, GGR Asia reports

GGR came in at US$22.66 billion last year. Sands’ share of that (US$6.03 billion) was up 3.2 percentage points when compared with its share of 2022’s pandemic-constrained US$5.19 billion, according to data provided by Deutsche Bank Securities.

SJM Holdings – Macao’s oldest gaming operator – saw its 2023 share of GGR fall the most, down 4 percentage points year-on-year to roughly 12 percent (US$2.74 billion), the bank’s figures show.

[See more: Macao’s gross gaming revenue fell by 4.4 percent in February]

Galaxy Entertainment Group and Melco Resorts & Entertainment’s shares slipped by 0.6 and 1.7 points, respectively. Galaxy contributed 18.1 percent of last year’s total (US$4.09 billion) and Melco’s share came in at 14.6 percent (US$3.32 billion).

MGM China and Wynn Macau’s respective shares each increased by 1.6 percent. MGM generated 15.3 percent (US$3.46 billion) of 2023’s GGR, while Wynn was reportedly responsible for 13.4 percent (US$3.03 billion), GGR Asia says

In terms of their shares of industry-wide property earnings before interest, taxation, depreciation and amortisation (EBITDA), Sands held 34.2 percent last year. Galaxy followed, with 20.8 percent, then Wynn Macau with a 14.8 percent share. MGM China held 13.4 percent of industry-wide property EBITDA, Melco had 12.5 percent, and SJM had 3.4 percent.

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