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Galaxy leads in October VIP market share

Galaxy led in VIP market share gain in October by 6.3 percent month on month, boosted partly by win rate and at the expense of MGM which had a strong and lucky month in September, HSBC Research said.

MGM’s share dropped 5.7 percent, while Sands relatively outperformed by adding 0.9 percent to its share. 

Sands led in mass as well, gaining 2.6 percent MoM in market share versus Wynn which lost 0.3 percent. But Wynn had a strong month in slot, up 3.2 percent at the cost of Sands which dropped 0.8 percent and Melco which lost 0.7 percent.

“Mass performance is key: We think sequential improvement in GGR, particularly in mass is vital for driving further and sustainable re-rating. We continue to prefer MGM for its deep long term value and its favorable risk-reward profiles,” said HSBC.

“MGM China is an Asia Super Ten portfolio constituent. We also like Galaxy. In the event of a VIP recovery, the operator will be best positioned to capture the upside.”



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