Deutsche Bank cited strong October results and market share gains.<\/p>\n\n\n\n\n\n\n\n
Macau.- Analysts from Deutsche Bank <\/strong>have revised their forecast for MGM China’s fourth quarter EBITDAR from US$231m to US$254m. The adjustment is mainly due to the strong performance in October, when the company achieved record monthly EBITDA and a 15.5 per cent market share in gross gaming revenue (GGR).\u00a0<\/p>\n\n\n\n Deutsche Bank noted that the strength in October is likely to have continued into subsequent months. It highlighted the advantage of 200 incremental tables<\/strong> during high volume and holiday periods such as Golden Week and the upcoming Chinese New Year.\u00a0<\/p>\n\n\n\n MGM Resorts will report fourth quarter 2023 results on February 13<\/strong>, after the market close.<\/p>\n\n\n\n In the third quarter of 2023,\u00a0MGM China<\/a>\u00a0posted 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. 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.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Deutsche Bank cited strong October results and market share gains.<\/p>\n","protected":false},"author":176,"featured_media":17390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Deutsche Bank has upgraded its Q4 EBITDAR forecast for MGM China, citing robust October performance, record monthly EBITDA, and significant GGR market share gains in Macau. This positive revision is attributed to strategic operational advantages, including increased gaming table capacity during peak periods, and follows strong Q3 2023 financial results.","focusai_entities":"Deutsche Bank, MGM China, MGM Resorts","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Market Share","query":"What specific operational or marketing strategies did MGM China implement to achieve a 15.5% GGR market share in October, and how sustainable are these gains against competitors?"},{"label":"Q4 Outlook Impact","query":"Beyond the 200 incremental tables, what other factors are contributing to Deutsche Bank's increased confidence in MGM China's Q4 EBITDAR, and what are the potential risks to this revised forecast?"}],"footnotes":""},"categories":[157,16338],"tags":[1618],"class_list":["post-777012964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012964","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=777012964"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012964\/revisions"}],"predecessor-version":[{"id":777012997,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012964\/revisions\/777012997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17390"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}