{"id":777007880,"date":"2023-08-03T06:30:27","date_gmt":"2023-08-03T09:30:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777007880"},"modified":"2026-04-22T19:23:21","modified_gmt":"2026-04-22T22:23:21","slug":"mgm-china-posts-revenue-of-us741m-for-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-posts-revenue-of-us741m-for-q2","title":{"rendered":"MGM China posts revenue of US$741m for Q2"},"content":{"rendered":"\n

The casino operator returned to a positive EBITDA of US$223.9m in the second quarter.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0MGM China Holdings<\/strong>\u00a0has shared its financial results for the second quarter of the year. Net revenue was US$741.0m, up 4.9 per cent when compared to the second quarter of 2019 and up 20 per cent\u00a0in quarter-on-quarter terms<\/a>.<\/p>\n\n\n\n

The casino operator reported positive adjusted EBITDA of HK$1.75bn (US$223.9m), up 19.8 per cent compared to the second quarter of 2019 and 24.1 per cent from the preceding quarter. Profit attributed to MGM China’s stakeholders reached HK$D669.63m, contrasting with a HK$1.37bn loss in the corresponding period last year. Profit was up 342.6 per cent when compared to the previous quarter.<\/p>\n\n\n\n

MGM Macau’s revenue reached HK$.58bn, marking a 10.1 per cent rise in quarter-on-quarter terms. Main-floor table games at MGM Macau generated HK$11.73bn, reflecting a 26.2 per cent increase from the preceding quarter’s HK$9.29bn. VIP table games turnover grew by 13.8 per cent to HK$8.46bn.<\/p>\n\n\n\n

MGM Cotai reported revenue of HK$3.23bn, up 29.3 per cent when compared to the previous quarter. The main-floor table games drop was HK$10.79bn, up 38.8 per cent quarter-on-quarter. VIP table games turnover was HK$23.99bn, up 112.9 per cent when compared to the previous quarter.<\/p>\n\n\n\n

Kenneth Feng<\/a>, president and executive director of MGM China said: “We are committed to helping shape the future of Macau as a global tourism destination through our concession commitments, with investment beginning this year. <\/p>\n\n\n\n

“The investment will cover a wide range of opportunities, including investments in Art and Culture, entertainment, and expansion of our international customer base. I would like to thank the Macau SAR government for their continued support.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The casino operator returned to a positive EBITDA of US$223.9m in the second quarter.<\/p>\n","protected":false},"author":176,"featured_media":17968,"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 Holdings reported robust Q2 financial results, achieving a positive adjusted EBITDA of US$223.9m and a significant profit attributed to stakeholders, contrasting with a prior-year loss. The casino operator demonstrated strong quarter-on-quarter growth across both MGM Macau and MGM Cotai, driven by increased main-floor and VIP table game performance. Management reiterated its commitment to Macau's development as a global tourism hub through strategic investments aligned with concession obligations.","focusai_entities":"MGM China Holdings, MGM Macau, MGM Cotai, Kenneth Feng, Macau SAR government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook?","query":"Given MGM China's strong Q2 performance, what is the revised GGR forecast for the Macau market for the remainder of the fiscal year, particularly considering the ongoing international customer base expansion initiatives?"},{"label":"Concession Investment ROI?","query":"How will the planned investments in Art and Culture, entertainment, and international customer base expansion, aligned with concession commitments, impact MGM China's long-term EBITDA margins and market share in Macau?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-777007880","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\/777007880","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=777007880"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007880\/revisions"}],"predecessor-version":[{"id":777007895,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007880\/revisions\/777007895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17968"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}