Galaxy Entertainment has become an investor favourite and is likely to boost its mass and premium mass market share as the Macau market recovers, Bernstein Research wrote in a note upping its target share price on the company.
MGM China Holdings Limited on Wednesday announced its 2019 financial results, with revenue up 19 percent year-on-year, driven by non-VIP gaming.
Las Vegas Sands and its Sands China unit are likely to dominate the market in Singapore and Macau for the next five years, according to a report from Bernstein.
SJM Holdings reported lower-than-expected Q3 EBITDA as VIP gross gambling revenue tumbled 43 percent in the quarter.
Melco Resorts & Entertainment and MGM Resorts are likely to have gained market share in Q3 as new properties ramp up, while Wynn Resorts and Galaxy Entertainment may have slipped due to their greater reliance on VIP, Bernstein analysts say.
Sands China and Galaxy Entertainment Group retained their top position in Macau gaming market share in 19H1, according to analysts at Deutsche Bank.
Gross gambling revenue in Macau’s mass market sector far outstripped the long-dominant VIP segment in Q2, helped in part by a reclassification of tables following the full smoking ban that came into effect in January.
The mass market in Macau accelerated to grow 12 percent in Q2 compared with the same period a year ago, with Melco Resorts & Entertainment increasing its share of EBITDA, according to a note from Morgan Stanley.
Beijing AGTech Technology Co. Ltd, a subsidiary of AGTech has announced it has secured more than 60 percent of market share in the supply of China Spo
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