MGM China net gaming revenue up in Q4 2019

MGM China net gaming revenue up in Q4 2019

Gaming operators MGM China also saw full year revenues increase 19 percent YoY to €2.6 billion.

China.- Gaming operator MGM China has revealed a 6 percent year-on-year increase in net revenue in the last quarter of 2019.

For the full year, the group saw net revenues increase 19 percent YoY to €2.6 billion.

MGM China also noted that VIP table games win decreased 20 per cent when compared to the previous year. The fall could be related to a 33% decrease in turnover at its MGM Macau property.

It was a different story at MGM Cotai; after adding 25 new to market tables, main floor table games win increased 31% on the previous year.

Adjusted Property EBITDA increased 10 percent in the last three months of 2019 to €169 million, with MGM Macau generating €100 million and MGM Cotai €69 million.

Due to the impact of Coronavirus on Macau and its gambling industry, the company is forecasting a negative result for Q1 2020.

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