Despite the fact that June is usually part of a slow season, Macau casinos still raked in profits and are set to meet year over year growth targets, says Citigroup.
Here are the numbers:
- For the fourth month in a row (in June), Macao managed to generate more than MOP 20 billion in gaming revenue.
- So far, Macao is up 45% YoY in 1H11. If it generates an average of MOP 23.3 billion in revenue over the traditionally stronger 2nd half of the year, it will meet Citigroup’s target of 40% year over year growth.
- Casino market share split for June: SJM Holdings Limited (29%), Sands China (16%), Galaxy (15%), Wynn (15%), Melco Crown (14%) and MGM (11%).
- Casino market share split for 1H11: SJM (31%), Sands China (16%), Melco Crown (15%), Wynn (15%), Galaxy (12%) and MGM (11%).
- Citigroup attributes June’s above average performance to the opening of Galaxy Macau- its market share rose ~2ppts from 13.5% to 15.4%. The biggest loser in June was SJM, who saw its marketshare decline by ~4 ppts from 33.3% to 29.1%.