Asia Casinos Doubled Revenue Having Turned to Las Vegas Model
The creation of Las Vegas-style integrated resorts in Macau and Singapore propelled more than a doubling in revenue for Asian and U.S. companies alike, including SJM, Genting, Galaxy, Melco, Las Vegas Sands, Wynn and MGM. Caesars’ and Penn National’s top-lines have been stagnant, held back by their U.S. concentration.
Caesars’ Place at the Table Is 50% Larger Than Las Vegas Peers
Caesars remains far larger than other peers in the casino table business when measured purely by units, with about 25% market share. Las Vegas Sands, SJM and MGM own an additional 40% together, and importantly, their VIP table businesses in Asia drive a more significant revenue and Ebitda contribution.
Caesars Personifies the U.S. in Terms of Casino Slot Dominance
Caesars Entertainment, with more than 59,000 handles, is almost double the size of its next competitors, MGM, Penn National and Boyd, when measured by the number of slot machines. This segment of the gaming industry is a mainstay of U.S. casinos, which is home to more than 185,000 of the major casinos’ 200,000 and more worldwide slots.