MACAU BUSINESS
By Sérgio Terra
Galaxy regains top gaming revenue spot
Powered mainly by the VIP sector, Galaxy Entertainment has posted the largest market share for the first half of the year, just edging out Sands China, which leads in the mass market. Both operators have in common the fact that they have surpassed the gross revenue of the entire Las Vegas Strip, according to company data and jurisdictional information for Macau and Vegas.
O
perational results of the second quarter of 2018 have allowed Galaxy Entertainment to re-take the lead in gaming gross revenue, overtaking Sands China, which had a slight advantage over the course of the first quarter. Overall, during
the first half of the year, the company founded and controlled by Lui Che-Woo is again heading the rankings, something it also managed in the second half of 2017 when it surpassed Sands China for the first time ever. At the time, it became only the third gaming operator to have ever led the rankings during the post-liberalisation era. SJM dominated during the first years, but was eventually surpassed by Sheldon Adelson’s enterprise. A Deutsche Bank report, which cross-referenced data from the gaming companies and was later analysed by Jornal Tribuna de Macau newspaper, concludes that the dominion of the two companies is not restricted to the territory and is gaining worldwide amplitude. Comparing values from Macau and Las Vegas brings us to a particularly elucidating conclusion, revealing that the gross revenue from the Las Vegas Strip – the world’s second largest market – was surpassed by the gross revenue of Galaxy Entertainment as well as by the gross revenue of Sands China, considered individually. According to Nevada State Gaming Commission data, the
Strip’s casino revenue grew 4.4 per cent to 3.33 billion dollars in annual terms between January and June, which is the equivalent of nearly 27 billion patacas. Macau’s 41 casinos experienced an 18.9 per cent growth, earning 150.2 billion patacas, or 5.6 times more than the former US ‘gaming Mecca’, with a special note going to Galaxy Entertainment’s six casinos and Sands China’s five casinos, with revenues of 34.8 billion patacas and 34.5 billion patacas, respectively. Galaxy’s growth is essentially due to the VIP market, with a
five per cent market share increase in this sector for a total of 29.2 per cent during the first half of the year, compared
18 NOVEMBER 2018
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