City of Dreams best performer in Jan-Sept gaming results

Gaming operator Melco Resorts held the largest percentage of gaming revenue generated in the Macau SAR for the first three quarters of this year thanks to the performance of its City of Dreams property, according to a report by newspaper Tribuna de Macau.

Citing reports by Sanford C. Bernstein and Deutsche Bank for the January to September period, the newspaper indicates that Melco held a 24.6 per cent share of local gaming revenues, followed by Sands China (19.5 per cent), Galaxy Entertainment Group (18.8 per cent), SJM Holdings (16 per cent), Wynn Macau (12.5 per cent), and MGM (8.6 per cent).

In previous years Sands China and Galaxy held the highest percentage of local gaming results, holding almost half of reported results.

Local casinos generated some MOP38.6 billion (US$4.8 billion) in gross gaming revenues in the first nine months of 2020, an amount 82 per cent lower than in the same period last year as the Covid-19 pandemic seriously impacted the local gaming sector.

The current top position held by Melco was mainly attributed to its City of Dreams property, the best performer in January to September period of the city’s 41 casinos, with some MOP6.4 billion generated, followed by Galaxy Macau with MOP5 billion and Venetian with MOP2.8 billion.

Still, contrary to the general trend, revenues from Melco’s largest resort declined by 28 per cent between the second and third quarter to about MOP798 million.

The operator headed by Lawrence Ho also topped local VIP results, holding 35.8 per cent of the high roller sector in the first three quarters of the year, followed by Galaxy (21.9 per cent), Wynn (12.7 per cent), Sands (11.9 per cent), SJM (10.5 per cent), MGM (7.2 per cent).

However, Sands China still headed the mass market sector, holding about 24,7 per cent of mass results for the period, followed by SJM (19.7 per cent), Melco (16.9 per cent), Galaxy (16.7 per cent), Wynn (12.5 per cent) and MGM (9.5 per cent).