UBS: WYNN MACAU(01128) September gaming revenue market share significantly exceeds expectations, SJM HOLDINGS(00880) market share increases second highest.
Compared to market expectations, the market share of Yin Yu and Wynn exceeded expectations, while MGM, Sands China, and Melco fell below expectations.
UBS Group AG released a research report stating that WYNN MACAU (01128) saw a significant increase in market share of gaming revenue in September, with a month-on-month increase of about 200 basis points, driving its market share in the third quarter up by 150 basis points. The company with the second highest increase in market share is SJM HOLDINGS (00880), with a month-on-month increase of about 50 basis points in September, but still dropping by 30 basis points in the third quarter.
The report also noted that the market share of Sands China (01928) and GALAXY ENT (00027) decreased by about 100 basis points and 150 basis points respectively in September, but increased by about 70 basis points and 40 basis points in the third quarter. Melco Resorts & Entertainment (MLCO.US) and MGM CHINA (02282) had stable market shares in September, but dropped by 120 basis points and 100 basis points respectively in the third quarter. In comparison to market expectations, Wynn and Wynn Resorts' market share exceeded expectations, while MGM Resorts International, Sands China, and Wynn Macau fell short of expectations.
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