MGM China announces cash dividend
MGM China will pay a final dividend of HK$0.251 (US$0.032) per share.
Macau.- MGM China has announced a cash dividend of HK$0.251 (US$0.032) per share for the year ending December 31, 2024. The total payout will amount to HK$953.8m (US$122.7m), representing 20.7 per cent of the group’s profit for the year.
The casino operator said the dividend will be payable on June 12 to shareholders registered as of June 3. The payout remains subject to shareholder approval.
For full-year 2024, MGM China posted net revenue of HK$31.4bn (US$3.92bn), up 27.2 per cent from the HK$24.7bn (US$3.2bn) posted in 2023, and up 138 per cent when compared to 2019, before the Covid-19 pandemic.
The casino operator recorded adjusted EBITDA of HK$9.06bn (US$1.13bn), up 25.2 per cent in year-on-year terms. This represented 147 per cent of 2019. MGM China had a market share of 15.8 per cent, up from 15.2 per cent in 2023 and 9.5 per cent in 2019. MGM COTAI’s market share was 9.3 per cent and MGM Macau’s was 6.5 per cent.
Hotel occupancy reached 94 per cent, up from 92.5 per cent in 2023. Property visitation grew 54 per cent year-on-year and reached 163 per cent of 2019 levels. Daily GGR was up 29 per cent to 129 per cent of 2019. Mass GGR (including slots) was up 33 per cent and reached 179 per cent of pre-Covid-19 levels.
