{"id":18208,"date":"2021-05-24T17:04:01","date_gmt":"2021-05-24T17:04:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18208"},"modified":"2026-04-23T19:16:26","modified_gmt":"2026-04-23T22:16:26","slug":"mgm-china-expects-summer-holiday-period-to-boost-revenue","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-expects-summer-holiday-period-to-boost-revenue","title":{"rendered":"MGM China expects summer holiday period to boost revenue"},"content":{"rendered":"\n<p>MGM China is confident the summer holiday period will boost revenue in Macau.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0<strong>MGM China<\/strong>\u00a0is looking forward to the<strong>\u00a0summer holiday period\u00a0<\/strong>after a good<strong>\u00a0Labour Day break performance<\/strong>, with the group&#8217;s hotel occupancy back to pre-pandemic levels.<\/p>\n\n\n\n<p><strong>Kenneth Xiaofeng<\/strong>, MGM President and Chief Financial Officer, said: &#8220;We have high expectations for a<strong>\u00a0strong Summer holiday period as shown by the past holiday<\/strong>.<\/p>\n\n\n\n<p>&#8220;Macau remains the&nbsp;<strong>safest and most convenient destination market&nbsp;<\/strong>outside mainland China.&#8221;<\/p>\n\n\n\n<p>The company said it expects the summer holiday period to be\u00a0<strong>a turning point for local gaming<\/strong>\u00a0and tourism industry.<\/p>\n\n\n\n<p>During the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-received-165500-visitors-arrivals-over-labour-day-break\">Labour Day break<\/a>,\u00a0165,500 tourists came to Macau, <strong>the first day seeing the highest daily volume of visitors<\/strong>\u00a0since the start of the Covid-19 pandemic, with 44,000\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-receives-99568-tourists-during-first-week-of-april\">arrivals<\/a>.<\/p>\n\n\n\n<p><strong>Numbers were a long way from 2019 levels, when Macau registered 531,000 visitors\u00a0<\/strong>arrivals during what was a four-day break in 2019 (this year the Labour Day break was extended).\u00a0<\/p>\n\n\n\n<p><strong>MGM China\u00a0<\/strong>said it was confident\u00a0<strong>results would continue to improve<\/strong>\u00a0after gross gaming revenue (GGR) for the first quarter of the year\u00a0<strong>recovered to nearly 40 per cent of pre-pandemic levels<\/strong>.<\/p>\n\n\n\n<p>For the first quarter of the year, MGM China reported an\u00a0<strong>8.8 per cent rise\u00a0<\/strong>in revenue year-on-year, although revenue was down 2.6 per cent compared to the previous quarter.<\/p>\n\n\n\n<p>According to the financial report,<strong>\u00a0revenue for the period was HKD2.30bn (US$296.4m)<\/strong>, supported by growth in the mass-market segment.<\/p>\n\n\n\n<p>MGM China also reported a\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/mgm-china-returns-to-positive-ebitda\">second consecutive quarter of positive EBITDA<\/a>\u00a0at HK$84.3m (US$10.8m). However, EBITDA was down 88 per cent when compared to the previous quarter.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legislators-ask-for-an-evaluation-of-gaming-licensees\">MGM China<\/a>\u00a0has recently hosted vaccination services on-site. According to health authorities,\u00a0<strong>90,267 people in Macau have been vaccinated\u00a0<\/strong>with at least one dose of a Covid-19 vaccine. That&#8217;s nearly 13 per cent of Macau\u2019s population.<\/p>\n\n\n\n<p><strong>Dr Leong Iek Hou<\/strong>, Novel Coronavirus Response and Coordination Centre coordinator, said&nbsp;<strong>vaccinated residents<\/strong>&nbsp;will be allowed to go to public events such as concerts, sports competitions and festivals&nbsp;<strong>without a negative nucleic acid test<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM China is confident the summer holiday period will boost revenue in Macau.<\/p>\n","protected":false},"author":176,"featured_media":18221,"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 anticipates a robust summer holiday period in Macau, projecting increased revenue driven by the mass-market segment, following a strong Labour Day performance and Q1 GGR recovery to nearly 40% of pre-pandemic levels. Despite a sequential EBITDA decline, the company remains optimistic about the market's turning point, supported by ongoing vaccination efforts facilitating eased public event restrictions.","focusai_entities":"MGM China, Kenneth Xiaofeng, Dr Leong Iek Hou, Novel Coronavirus Response and Coordination Centre","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Mass-Market GGR Outlook","query":"What specific strategies is MGM China implementing to further accelerate mass-market GGR recovery beyond the reported 40% of pre-pandemic levels, and what is the projected timeline for reaching 2019 GGR benchmarks?"},{"label":"EBITDA Trend Analysis","query":"Given the 88% sequential decline in EBITDA despite positive Q1 performance, what are the underlying cost drivers or revenue mix shifts contributing to this volatility, and what is the forecast for EBITDA stabilization in H2?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23907,23906,1618],"class_list":["post-18208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-land-based-casino","tag-macau-casinos","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18208","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18208"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18208\/revisions"}],"predecessor-version":[{"id":18231,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18208\/revisions\/18231"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18221"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}