Tag Archives: MGM China
China – MGM China sees daily revenue surpass 2019
MGM China said it was ‘delighted to see record-high performance across segments last year and continued to outperform industry recovery’ in Macau. Property visitation in 2023 was 106 per cent of 2019. Daily GGR was 101 per cent of 2019 and mass GGR (including slot) was 134 per cent of pre-COVID levels. Net revenue of…
China – Mass gaming revenue far surpassing 2019’s figures for MGM China
MGM China has said it saw a solid recovery in Macau since the beginning of the year. Macau saw average daily visitor arrival for the third quarter reach 90,025, up by 22 per cent from the second quarter, recovered to 84 per cent of pre-COVID levels of the same period in 2019. Visitation recovery has boosted gross gaming revenue…
China – MGM China continues to outperform the Macau market, operating at 84 per cent of 2019’s levels
MGM China continued to outperform the market amid of industry recovery for the three months ended March  31, 2023, with net revenue increasing by 131.2 per cent year-on-year to HK$4.8bn for the Period, reached 84 per cent of first quarter 2019. Macau saw a pick up of visitation soon after the lifting of travel restrictions and quarantine requirements from…
China – MGM China operating at 11 per cent of pre-pandemic levels
During the third quarter, MGM China recorded total revenue of approximately HK$687m, compared to HK$1.1bn in the second quarter. MGM China had market share of 13.2 per cent for the third quarter. Its GGR in third quarter was 11 per cent of 19Q4 pre-pandemic levels, compared to eight per cent of market levels. “Our team focuses on positioning…
China – First half revenues fall 46 per cent for MGM China
During the first half of the year, MGM China recorded total revenue of approximately HK$3.2bn, compared to HK$4.7bn same period a year ago, down by 46 per cent from the same period last year. Macau and Greater China are under the adverse impact of the COVID-19 pandemic in 2022. We saw customer demand pick up during the Chinese New Year. However,…
China – MGM turns things around in Macau with 85 per cent increase in 2021
During the Year, MGM China‘s net revenue soared by 85 per cent to approximately HK$9.4bn. The Group had a turnaround to an adjusted EBITDA of approximately HK$390m, compared to a negative adjusted EBITDA of HK$1.4bn in 2020. Despite the ongoing impact of the COVID-19 pandemic in 2021, Macau has been seeing a gradual recovery. The city recorded a 31 per cent…
China – MGM China falls seven per cent from second quarter
MGM China recorded total revenue of approximately HK$2.2bn, down by seven per cent from second quarter. Adjusted EBITDA was approximately HK$101m, down by 13 per cent sequentially. Overall occupancy rate was 50.9 per cent, compared to 65.5 per cent in the previous quarter. for the three months and nine months ended September 30, 2021.Macau market saw a sequential decline…
China – MGM narrows loss in Macau as revenues double year-on-year
MGM China said that ‘Macau continued to see a choppy business environment during the [first half of the year] under the COVID-19 pandemic’ but that MGM China recorded total revenue of approximately HK$4.7bn, nearly double from HK$2.4bn same period a year ago. For the first half of 2021, the Group recorded adjusted EBITDA of approximately…
China – MGM says Macau recovery will be driven by premium mass market
MGM China saw its first-quarter market-wide gross gaming revenue (GGR) fall by 22 per cent year-over-year, narrowed from a 70 per cent year-on-year decline in the previous quarter. While market-wide GGR in the first quarter improved sequentially by eight per cent compared to the fourth quarter, Macau’s business volumes remained well below pre-COVID levels. It…
