MGM China Rolls out Labubu and Rolex Promotions to Defend Market Share

MGM China has launched a new promotional campaign allowing players to redeem points for mini Labubu toys as part of its strategy to maintain market share. Additionally, players who place side bets totaling HKD5,000 (around $640) or more have a chance to win a Rolex watch.

MGM China Unveils New Promotions

George Choi and Timoth Chau from investment bank Citigroup characterized MGM’s recent initiatives as cost-effective measures likely to help the company defend, and potentially even grow, its market share, despite increased competition from the ramp-up of Sands’ Londoner Grand and Galaxy’s Capella. Citi also noted that MGM appears to be the first casino operator to offer mini Labubu toys for point redemption by players, just days after the mini version of the widely popular Chinese toy was released on 29 August.

However, the investment bank noted that, based on its “on-the-ground observations,” the level of competition among Macau’s six gaming operators remains manageable. Macau’s competitive landscape has become a major topic of discussion in the post-COVID era, with Sands China publicly announcing in July that it intends to take a much more aggressive stance on customer reinvestment in response to recent market underperformance.

Citigroup’s latest insights, published as part of its monthly Macau table survey, indicated that Sands China has recently gained market share in the premium mass segment. This growth was reportedly driven by the presence of a HKD2 million ($256,000) high-stakes player and five other high rollers placing bets ranging from HKD100,000 to HKD170,000 ($12,830 to $21,830) at Sands’ properties. Citi also noted an 18% year-on-year decline in the number of premium mass players observed. However, this was offset by a 27% increase in the average wager per player, resulting in a 3% rise in total premium mass wagers compared to September 2024.

It should be noted that last month, MGM China recorded its best quarterly results of all time, reporting its highest-ever earnings, which are largely attributed to the rising number of tourists in Macau.

Hornbuckle Talks About MGM’s Recent Successes

Bill Hornbuckle, president and CEO of MGM Resorts International, the parent company of MGM China, acknowledged last week that MGM had been a pioneer in launching many of the competitive promotional strategies now widely seen across Macau. However, he rejected claims that the situation had ever gotten out of control.

Speaking at the Bank of America Securities 2025 Gaming & Lodging Conference, Hornbuckle stated that while the Macau market is “always aggressive,” there has been no indication that promotional activity has become excessive. He added that regulatory oversight serves as an effective check and balance.