{"id":777010975,"date":"2023-11-09T08:25:15","date_gmt":"2023-11-09T11:25:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010975"},"modified":"2026-04-22T16:20:25","modified_gmt":"2026-04-22T19:20:25","slug":"mgm-china-posts-revenue-of-us812-52m-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-posts-revenue-of-us812-52m-for-q3","title":{"rendered":"MGM China posts revenue of US$812.52m for Q3"},"content":{"rendered":"\n

The company reported adjusted EBITDA of HK$1.9bn (US$243.1m).<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0MGM China Holdings<\/strong>\u00a0has shared its financial results for the third quarter of the year. Net revenue was HK$6.4bn (US$812.52m), up 9.7 per cent\u00a0in quarter-on-quarter terms<\/a>\u00a0and 10 per cent when compared to pre-Covid-19 levels.<\/p>\n\n\n\n

The casino operator reported positive adjusted EBITDA of HK$1.9bn (US$243.1m), up 122 per cent compared to the second quarter of 2019 and 7.9 per cent from the preceding quarter.\u00a0MGM Macau\u2019s revenue reached HK$2.9bn<\/strong>. The property recorded adjusted EBITDA of HK$880.5m, a 14.2-per cent increase from the previous quarter.<\/p>\n\n\n\n

MGM Cotai<\/strong> reported revenue of HK$3.48bn and adjusted EBITDA of HK$1.00bn, up about 3 per cent sequentially.<\/p>\n\n\n\n

As of September 30, 2023, the group had liquidity of HK$18.2bn, which included cash, cash equivalents, and undrawn revolver. In October, the group had a strong Golden Week, and the market GGR reached a post-pandemic high of MOP19.5bn, equivalent to 74 per cent of 2019’s GGR. This indicated a daily run-rate of MOP629m. MGM China’s market share increased to 15.5 per cent. The year-to-date market share was 14.8 per cent.<\/p>\n\n\n\n

Kenneth Feng<\/strong>, president and executive director of MGM China said: “We are excited about the recovery in Macau, along with the diversification development of the city<\/a>. We will continue investing in the gaming floor to enhance table yield. At the same time, we are committed to bringing in more unique integrated tourism experiences to attract international visitors.”<\/p>\n\n\n\n

See also: <\/strong>Deutsche Bank lowers MGM China 2024 EBITDAR forecast<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The company reported adjusted EBITDA of HK$1.9bn (US$243.1m).<\/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 Q3 financial results, with net revenue reaching HK$6.4bn and adjusted EBITDA of HK$1.9bn, surpassing pre-Covid levels. The operator significantly increased its market share in Macau, which experienced a post-pandemic high GGR during Golden Week, underscoring a strong market recovery. Management articulated a strategic focus on enhancing gaming floor yield and diversifying with integrated tourism experiences.","focusai_entities":"MGM China Holdings, MGM Macau, MGM Cotai, Kenneth Feng, Deutsche Bank","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook","query":"Given MGM China's strong Q3 performance and the post-pandemic GGR high, what is the projected trajectory for Macau's overall GGR in Q4 2023 and H1 2024, particularly concerning the return of international visitors versus domestic demand?"},{"label":"Diversification Strategy Impact","query":"How will MGM China's stated commitment to 'investing in the gaming floor to enhance table yield' and 'bringing in more unique integrated tourism experiences' impact its non-gaming revenue contribution and overall EBITDA margin in the next fiscal year?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,1618],"class_list":["post-777010975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010975","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=777010975"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010975\/revisions"}],"predecessor-version":[{"id":777040990,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010975\/revisions\/777040990"}],"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=777010975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}