MGM China seen gaining Macau market share by 2024 on greater table allocation
Monday 06 de March 2023 / 12:00
⏱ 1 min read
(Macau).- MGM China is well placed to gain up to 3% of market share from its Macau concession rivals over the next two years, buoyed by the addition of almost 200 new gaming tables under the government’s allocation, according to investment bank Morgan Stanley
In a note exploring the short-term recovery prospects of MGM China, Morgan Stanley analysts Praveen Choudhary and Gareth Leung single the company out as their top pick in Macau based on current valuations and the addition of 197 new gaming tables as of 1 January.
MGM China saw its table allocation grow from 553 at end-2019 to 750 in 2023, representing 12.5% of all gaming tables in Macau. It also brings the company in line with Melco Resorts’ 750 table allocation and places it ahead of Wynn Macau’s 570 (down from 654 at end-2019).
“We see [MGM China’s] market share in terms of number of gaming tables increasing from 8% in 2019 to 13% in 2023,” the analysts wrote. “We believe MGM mass market share will increase from 10% in 2019 to 13% in 2024.”
With increased market share, Morgan Stanley sees MGM China becoming a more attractive investment option than its Macau peers based on resulting EBITDA estimates for 2024.
Noting that its MGM estimates for 2024 are 30% higher than the street, the analysts said, “[MGM China] valuation at 8.8x EV/EBITDA on our 2024 forecast is a 35% discount to its long-term average multiple since 2012. We view this level of valuation as attractive.”
They also noted that although MGM China has a relatively high net debt to EBITDA gearing ratio, it s liquidity pathway appears manageable given the backing of its US-based parent, MGM Resorts.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: EMEA
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
