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Our Gaming, Leisure and Lodging team has put out a chart detailing the Macau property EBITDA share of gaming companies. We think Las Vegas Sands (LVS) will continue to gain revenue and EBITDA share thanks to strong performance from the Venetian. EBITDA share has improved 2.8% quarter-over-quarter to 27.9%. And due to stellar results at Galaxy Macau, Galaxy has moved into 2nd place in terms of EBITDA share. MGM Resorts (MGM) continues to hold the rear as Q3 was negatively impacted by low hold on direct play and rolling chip play.

Macau: The Lion's Share - macauEBITDA