The casino operator has published its latest financial report, showing a plunge in revenues by 94 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino operator MGM China has revealed EBITDAR losses for the third quarter of the year of HK$730.6m (US$94.2m).<\/p>\n\n\n\n
The gaming company saw net revenues plunge by 94 per cent year-on-year to HK$363.2m, with all operations impacted by lack of visitors to Macau due to the border measures imposed because of the Covid-19 pandemic.<\/p>\n\n\n\n
MGM Cotai suffered an EBITDA loss of HK$456.3m, and MGM Macau HK$274.2m.<\/p>\n\n\n\n
Both the group\u2019s VIP and mass tables gross win dropped by 95 per cent year-on-year in the three month period.<\/p>\n\n\n\n
The group has taken a number of measures to preserve local jobs amid the crisis, such as a reduction of payroll expenses and the deferral of certain capital expenditures.<\/p>\n","protected":false},"excerpt":{"rendered":"
The casino operator has published its latest financial report, showing a plunge in revenues by 94 per cent year-on-year.<\/p>\n","protected":false},"author":2,"featured_media":11371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM China has reported a 94% year-on-year plunge in net revenues for Q3, resulting in EBITDAR losses of HK$730.6m. This severe financial downturn is attributed to the lack of visitors to Macau due to ongoing COVID-19 border measures, impacting both VIP and mass gaming verticals. The operator has implemented cost-saving measures, including payroll reductions and capital expenditure deferrals, to mitigate the crisis.","focusai_entities":"MGM China, MGM Cotai, MGM Macau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Market Recovery Outlook?","query":"What is MGM China's projected timeline for a return to positive EBITDAR, contingent on the easing of Macau's border measures and subsequent visitor volume recovery?"},{"label":"Operational Cost Structure Analysis?","query":"Beyond payroll reductions and capex deferrals, what further operational efficiencies or structural changes is MGM China implementing to optimize its cost base for a prolonged low-GGR environment?"}],"footnotes":""},"categories":[160,16338,163,158],"tags":[257,1618],"class_list":["post-11369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","category-slider-home","tag-macau","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11369"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11369\/revisions"}],"predecessor-version":[{"id":11388,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11369\/revisions\/11388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11371"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}