Wynn Macau Ltd was the standout performer among Macau’s six concessionaires during the June 2026 quarter, boosting its GGR market share by 120bps quarter-on-quarter to 14% – its best in two years – according to analysis of reported company results by investment bank J.P. Morgan.
The company also enjoyed a 200bps quarter-on-quarter increase in hold-adjusted EBITDA share to 16%, aided by higher than normal mass table hold.
By contrast, Sands China saw its hold-adjusted EBITDA share fall to a new low of 27%, down 220bps.
By property, MGM Cotai with a 70bps gain proved string while both Wynn Palace and Wynn Macau gained 60bps. J.P. Morgan noted that all-time high GGR share at Sands China’s The Londoner Macao of 10.1% was offset by The Venetian Macao continuing to cede market share, now down to 7.6%.
Despite this, Sands China maintained the largest GGR share of 24%, albeit down 2% quarter-on-quarter, ahead of Galaxy at 21%, MGM at 17%, Melco at 15%, Wynn at 14% and SJM at 10%.
On a hold-adjusted EBITDA share basis, Sands again fell by 2% to 27%, followed by Galaxy at 23%, Wynn and MGM at 16% apiece, Melco at 13.5% and SJM at 5%.
Market-wide, the combined results of the concessionaires included a 4% year-on-year increase in mass table and slot GGR, while VIP GGR fell 29%. Hold-adjusted EBITDA was down 3% year-on-year and slowed to 86% of 2019 levels compared with 92% in the March 2026 quarter.
