{"id":35070,"date":"2022-11-03T14:37:33","date_gmt":"2022-11-03T17:37:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=35070"},"modified":"2026-04-23T03:18:11","modified_gmt":"2026-04-23T06:18:11","slug":"mgm-china-records-negative-adjusted-ebitda-of-us68-2m-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-records-negative-adjusted-ebitda-of-us68-2m-for-q3","title":{"rendered":"MGM China records negative adjusted EBITDA of US$68.2m for Q3"},"content":{"rendered":"\n<p>MGM China reported a casino revenue of US$70m between July and September, down 72 per cent year-on-year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- <strong>MGM China<\/strong> has recorded<strong> revenue of approximately HK$687m (US$87m) <\/strong>for the third quarter of the year, down 37.5 per cent when compared with HK$1.1bn in the previous quarter. The figure was also down 69 per cent year-on-year from HK$2.25bn.<\/p>\n\n\n\n<p>The casino operator reported a negative adjusted EBITDA of approximately HK$536m (US$68.2m), compared to a second-quarter loss of HK$382m. Occupancy was 21 per cent in the third quarter, compared to 25.6 per cent in the second.<\/p>\n\n\n\n<p>Revenue for the casino division fell by 72 per cent year-on-year from US$252m to US$70m. As of September 30, 2022, the group had total liquidity of approximately HK$9.9bn, comprising cash and cash equivalent and an undrawn revolver.<\/p>\n\n\n\n<p><strong>Kenneth Feng<\/strong>, president, strategic and chief financial officer of MGM China\u00a0said: &#8220;We aim to support the Macau government in achieving its diversification goals and will continue to invest in innovative projects and programs that help the region flourish.\u00a0<\/p>\n\n\n\n<p>&#8220;We expect the travel relaxation measures will drive a gradual recovery in visitation. We look forwards to participating in the future development of Macau.&#8221;<\/p>\n\n\n\n<p><strong>See also:\u00a0<\/strong><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/mgm-says-getting-new-macau-gaming-licence-is-top-priority\" target=\"_blank\">MGM says getting new Macau gaming licence is a top priority<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM China reported a casino revenue of US$70m between July and September, down 72 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":27875,"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 reported a significant decline in Q3 2022 financial performance, with casino revenue down 72% year-on-year to US$70m and a negative adjusted EBITDA of HK$536m. Despite challenging market conditions in Macau, the operator maintains HK$9.9bn in liquidity and expresses commitment to supporting the Macau government's diversification goals and future regional development.","focusai_entities":"MGM China, Kenneth Feng, Macau government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Visitation Recovery","query":"What specific travel relaxation measures are anticipated to drive a gradual recovery in Macau visitation, and what is MGM China's projected timeline for GGR normalization?"},{"label":"Diversification Investment Strategy","query":"Beyond gaming, what innovative projects and non-gaming verticals is MGM China prioritizing for investment to align with the Macau government's diversification goals, and what is the projected ROI?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-35070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35070","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=35070"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35070\/revisions"}],"predecessor-version":[{"id":35101,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35070\/revisions\/35101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/27875"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=35070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}