Galaxy Entertainment Group: Throughout 2024 GEG continued to push forward every segment of the business, in particular the premium mass. In Q4 2024, the group increased its market share and outpaced industry growth, driven by its live events offering as well as the recent opening of revamped gaming supply. For FY24, GEG’s Adjusted EBITDA grew 22% to HK$12.2bn (US$1.57bn). The group continued to ramp up the newly opened Phase 3 at Galaxy Macau while making progress with Phase 4. GEG also completed the upgrade of Level 3 at StarWorld which now hosts one of the largest-scale Live Table Games terminals in Macau.
MGM Resorts: In 2024, MGM Resorts reported the best full-year consolidated net revenues in the history of the company, driven by record performance from MGM China (which recorded full year Segment Adjusted EBITDAR of $1.1bn). MGM China continued to outperform industry recovery in the past 12 months. Property visitation grew 54% YoY, reaching 163% of 2019 levels. Daily GGR grew 29% to reach 129% of pre-covid levels. Outside of China, MGM Resorts plans to begin construction of its IR in Osaka this year.
Melco Resorts & Entertainment: Throughout 2024, Melco made significant investments to enhance the customer experience and to build a stronger foundation for growth. This resulted in market share growing month-to-month during Q4 2024 and property visitation exceeding pre-pandemic levels. For FY 2024, Melco reported Adjusted Property EBITDA of US$1.22bn (up 17%). In 2024, the operator launched its revamped loyalty program, opened a new Signature Club premium slot area at City of Dreams, as well as Dragon Zone - a highly themed slot area, in partnership with Aristocrat. Melco was also awarded a 20-year casino license by the Government of Sri Lanka where it will operate City of Dreams Sri Lanka.
Wynn Resorts: Throughout 2024, Wynn Resorts drove healthy market share in Macau led by strength in both premium mass and VIP. For FY2024, Wynn Macau Ltd’s adjusted property EBITDAR rose to US$1.17bn (up from US$954m in 2023). Wynn’s investments in digital innovation were certainly key in sustaining profitability. The company began to roll out digital tables at both Wynn Palace and Wynn Macau to streamline its operations.
Sands: Sands delivered FY2024 operating income of $2.40bn, up from $2.31bn in 2023. The operator continues to make investments in Macau and Singapore. Marina Bay Sands delivered outstanding financial and operating performance as it gears up for multi-billion dollar expansion which will see the addition of a fourth hotel tower. In Macau, Sands continued investing in upgrades at The Londoner Macao and Venetian Arena. In September, Sands and Marriott International unveiled a collaboration to bring the first Luxury Collection Hotel to Macau, situated within The Londoner Macao.
SJM Resorts: 2024 saw SJM return to profit post-Covid. During the year, the company’s GGR continued to outperform the market, increasing by 35.9% YoY to HK$28.8m (US$3.6bn). The company’s Grand Lisboa Palace Resort began to gain momentum, with the property doubling its GGR YoY and strengthening its market position with an expanding portfolio of attractions that cater to a broad spectrum of customers. Last year, SJM also revealed that its downtown property - Grand Lisboa, is to undergo a major renovation this and next year. The refurbishment will upgrade all 430 hotel rooms and suites, aiming to combine modern comfort with the building's rich history.
Bloomberry Resorts Corporation: In 2024, Bloomberry reported topline growth despite a challenging operating environment in Metro Manila. May last year saw the grand opening of the highly anticipated Solaire Resort North. The property continues to gain traction in daily foot traffic and revenue and was a significant contributor to the group’s GGR strength as it vastly expanded Bloomberry’s presence in the mass market segment. For FY2024, Bloomberry reported a 6% year-on-year increase in GGR to PHP61.7bn (US$1.08bn).
Genting Group: Genting reported group revenue of RM27.7bn (US$6.2bn) for FY2024 which represents 2% YoY increase. For 2024, higher revenue (surpassing pre-Covid levels) was recorded by the company’s Singapore property - Resorts World Sentosa as it delivered a strong performance across both the gaming and non-gaming sectors. Construction of RWS’s SG$6.8 bn(US$5bn) waterfront expansion is currently underway. In Malaysia, Resorts World Genting opened a new mass gaming floor with 36 tables and a host of lower yielding slot machines and EGMs while continuing to renovate the Circus Palace and Hollywood casinos.
