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.
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*