Gaming companies always strive to build the biggest, most profitable casinos to attract gamblers in the fastest-growing markets. For years, that market has been Macau. As massive casinos fill the Macau Peninsula and Cotai Strip, operators there are fighting for every gambling dollar they can get.
Las Vegas Sands
|
Hotel |
Location |
Q4 2009 |
Q4 2010 |
Growth (YOY) |
|---|---|---|---|---|
| Venetian Macau | Cotai Strip | $9,565 | $11,276 | 17.9% |
| Sands Macau | Macau Peninsula | $8,575 | $9,449 | 10.2% |
| Altira | Taipa | $9,970 | $18,017 | 80.7% |
| City of Dreams | Cotai Strip | $7,276 | $15,481 | 112.8% |
| Wynn Macau | Macau Peninsula | $16,379 | $24,769 | 51.2% |
*Wynn Macau includes Encore.
Beyond the eye-popping numbers Wynn is raking in per table, there are some interesting trends developing in Macau. As the table above shows, Melco Crown's two properties lead the growth list in daily table game win over the last year. And both casinos are wildly outperforming Las Vegas Sands' casinos. Since MGM doesn't break out Macau-specific numbers, it's hard to tell exactly how its casino is performing, but next-door neighbor Wynn shows that the Macau Peninsula is still a great place to be.
Even Las Vegas Sands' flashy new Singapore casino, Marina Bay Sands, can't touch the table-game growth Macau casinos experienced quarter over quarter. Win per table game only increased 1.5%, lower than Las Vegas Sands' Venetian Macau and Sands Macau, which grew daily per-table win 5.3% and 12.9%, respectively.
Right now, it looks like Wynn Resorts is the biggest winner per table in Macau, but Melco Crown is catching up quickly. Las Vegas Sands' focus on mass-market gaming is causing it to fall behind in Macau. That's not a reason for investors to panic, but it's definitely something to watch going forward.
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