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
GAT EXPO CARTAGENA 2026
24 de March 2026
NOVOMATIC drives the growth of the Colombian market at GAT Cartagena 2026
(Cartagena).- Following a standout participation at GAT Cartagena 2026, NOVOMATIC Gaming Colombia reaffirmed its leadership in the Latin American gaming industry by combining a strong technological showcase with the launch of linked progressive jackpots and active involvement in regulatory discussions shaping the future of the slot machine sector in the country.
Thursday 02 Apr 2026 / 12:00
Trade Associations and Governments in Latin America: The Gaming Sector Calls for Technical Dialogue and Regulatory Predictability
(Cartagena de Indias, SoloAzar Exclusive).- Cartagena de Indias was the stage for an intense debate on the role of gaming associations in shaping public policy, where regional leaders agreed on the need to strengthen dialogue with governments, warned about unilateral decisions that affect the sustainability of the industry, and proposed an evolution of trade associations into key technical actors in the region.
Wednesday 01 Apr 2026 / 12:00
Technology, AI and Traceability: Keys to the Future of Gaming at the GAT Expo Cartagena Suppliers Panel
(Cartagena de Indias, SoloAzar Exclusive).- Within GAT Expo Cartagena 2026, technology sector leaders analyzed the challenges and opportunities of the gaming industry during the panel “Innovation, Traceability and Control”.
Tuesday 31 Mar 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.