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40


Gaming | Billions Race


Growth spurt C


asinos in Macau posted a 52.4 percent year-on-year increase in gross gaming revenue last


month, recording a  gure of MOP20.79 billion (US$2.6 billion). Total casino gross gaming revenue for


the  rst half of the year was up 44.6 per- cent year-on-year to MOP124.13 billion. It was the  rst time in 2011 that the


year-on-year change in gross gaming revenue exceeded 50 percent, according to data from the Gaming Inspection and Coordination Bureau. Last month saw the end of a record-


breaking run for monthly gross gaming revenue. June’s  gure was more than MOP3.5 billion behind the latest record set in May. Even so, it was the second best month ever for the gaming industry.


26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0


Gaming Results: Gross Revenue In Million MOP (1HKD:1.03MOP) 24,306 18,869 16,310 15,773 15,302 13,642 17,354 18,883 18,571 19,863 20,087 20,507 20,792


Gross gaming revenue shot up 52 percent last month but a record-breaking run ended


Preliminary information compiled


by Portuguese news agency Lusa reveals Stanley Ho Hung Sun’s Sociedade de Jog- os de Macau (SJM) continued to lead the market last month, enjoying a 29 percent market share, but it was the  rst time this year the company’s share dropped below 30 percentage points. SJM was followed by Sands China, with a June market share just less than 16 percent. Unsurprisingly, the biggest winner


last month was Galaxy Entertainment Group, which opened the massive Gal- axy Macau resort in Cotai on May 15. From an April share of 9 percent, Gal- axy now commands a market share of a little over 15 percent. Wynn Macau is ranked fourth, also with a 15-percent market share, followed by Melco Crown


with 14-percent market share. MGM Macau was stable with its share hover- ing below 11 percent. Such strong results have already


prompted Morgan Stanley to revise gaming revenue growth estimates for Macau casinos in 2011 from 30 percent to 38 percent and next year’s growth from 10 percent to 13 percent. In a note to investors released in the


middle of last month, analysts Praveen K. Choudhary and Calvin Ho said that “in the  rst  ve months of 2011, gross gaming revenue in Macau recorded 43 percent year-on-year growth. That, along with abundant liquidity and new supply (Galaxy Macau) should drive further upside to consensus earnings estimates”.


Jun 2010 Jul 2010 Aug 2010 Sep 2010 Oct 2010 Nov 2010 Dec 2010 Jan 2011 Feb 2011 JULY 2011


Mar 2011 Apr 2011 May 2011 Jun 2011


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