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MGM Grand Macau Snags 8% of Macau Market - Wynn and Sands Big Losers?

We received a tip from one of our sources that MGM Grand Macau management has been saying in various onsite meetings and communications that the Lion of Macau has garnered a whopping 8% market share in its first month of operation.

The volume of play in VIP baccarat and high roller slot play has been exceptional and many top players have defected from Wynn Macau to it's brand new neighbor to the South - MGM Grand Macau.

Snagging 8% market share with a single property in a single month is quite an achievement, particularly with a large stretch of that during the 'holiday season.'

Another notable development in Macau - and we'll bet you didn't see this one coming - there was a round of VIP level dealer layoffs at an unnamed casino this week. Shocking! Or maybe not? The dealer layoffs were reported by Macau television station TDN although they did not mention a specific casino by name.

After studying the extremely fuzzy and decidedly evasive language of TDN's report we have triangulated which casinos may have done the layoffs.

The report stated that the laid off employees had been working for only one month. The dealers could be:
a) New hires at any property
b) New hires at Crown Macau to handle the AMAX junket which started in mid-December.
c) New hires at MGM Grand Macau, which opened a month ago.

The casino in question was given the opportunity to move the displaced employees to 'other properties.' That rules out Wynn Macau, MGM Grand and Crown Macau, leaving Galaxy, Las Vegas Sands and SJM.

It is quite doubtful that SJM would be unable to find positions at one of their twenty other casinos, particularly with dealer shortages and headhunting from newer properties. Las Vegas Sands (Sands & Venetian) already have a history of abruptly firing dealers in Macau. Again, we have no confirmation about this, but taking all of these facts into account, I'm going to go out on yet another limb and guess that the dealers were canned at the Sands (or Venetian). If you've got a tip you'd like to share, please contact us.

With the timing of the reduction being a month after MGM Grand Macau's opening, coupled with our insiders report that MGM has banked a whopping 8% market share already, one can't help but think that these two stories are directly related.

The gloves are off folks... let the REAL games begin. *ding*ding*

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Comments & Discussion:

According to the Macau Daily Times, MGM did snag up about 8% of the market during the first 2 weeks of the New Year. They probably have the strongest brand in the marketplace. Looks like they were the biggest percentage gainers. I guess when you start from 2% in the previous month, the only way it could really go was up.

I was surprised to see Las Vegas Sands lose so much share month over month, and now holds only about a 19% share of the market. Meanwhile, Melco-PBL's market share went from around 8% in December to 15% in the first two weeks of January. Pretty incredible for a casino with only 216 rooms. Must be some real high-rolling Hong Kong types playing there.

Looks like WYNN and SJM are relatively holding steady in their market share stats. And Galaxy is taking a bit of a hit, now only holding about 10% of the pie. Interesting trends taking place.

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