{"id":777013156,"date":"2024-02-14T10:14:33","date_gmt":"2024-02-14T13:14:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013156"},"modified":"2026-04-22T13:00:47","modified_gmt":"2026-04-22T16:00:47","slug":"mgm-china-revenue-up-369-in-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-revenue-up-369-in-2023","title":{"rendered":"MGM China revenue up 369% in 2023"},"content":{"rendered":"\n

MGM China has reported net revenue of HK$24.7bn.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0MGM China<\/strong>\u00a0has shared its financial results for the financial year 2023. It posted\u00a0net revenue of HK$24.7bn (US$3.2bn), up 369 per cent in year-on-year terms and up 9 per cent when compared to 2019, before the Covid-19 pandemic.<\/p>\n\n\n\n

The casino operator recorded\u00a0adjusted EBITDA at a historical high of HK$7.2bn, representing 117 per cent of 2019 levels. MGM China had a market share of 15.2 per cent in r 2023, up from 9.5 per cent in 2019. MGM COTAI’s market share was 8.6 per cent and MGM Macau’s 6.6 per cent.\u00a0<\/p>\n\n\n\n

The company posted net revenue of US$983m for the fourth quarter of 2023, an increase of 462 per cent over the prior year quarter and 35 per cent compared to the fourth quarter of 2019. MGM Macau recorded revenue of HK$3.05bn (US$390m) and adjusted property EBITDAR of HK$824.7m (US$105.5m), MGM Cotai HK$4.62bn (US$590.8m) and HK$1.37bn (US$175.2m).<\/p>\n\n\n\n

Kenneth Feng<\/strong>, president, strategic and chief financial officer of MGM China said: “We are excited about the recovery in Macau and our outperformance across various business segments. We will continue to innovate our products and services to enhance customer experience. We are also committed to bringing in more unique integrated tourism experiences to attract international visitors.<\/p>\n\n\n\n

“MGM China is determined to bring in world-class events to Macau. The Group has organized MGM Macau Tennis Masters tournament with IMG featuring top international tennis players at the Macao East Asia Games Dome. The Group has also joined hand with the Macao Cultural Affairs Bureau to organize hush! Beach Concerts x Urban Yo~ga Wellfest, a multi-disciplinary festival which marks the debut of MGM’s wellness IP Program that integrates tourism, health and music industries along the natural coastal Hac S\u00e1 Beach in Macau.<\/p>\n\n\n\n

“We strive to develop MGM as a destination for visitors and customers, along with the diversification development of Macau. We are devoted in developing Macau into a global and diversified tourist destination through our concession commitments.”<\/p>\n\n\n\n

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

MGM China has reported net revenue of HK$24.7bn.<\/p>\n","protected":false},"author":176,"featured_media":25150,"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 robust financial results for FY2023, with net revenue reaching HK$24.7bn and adjusted EBITDA at a historical high of HK$7.2bn, significantly surpassing pre-pandemic levels. The operator increased its Macau market share to 15.2% and is actively pursuing diversification strategies through integrated tourism and world-class events, aligning with its concession commitments.","focusai_entities":"MGM China, MGM COTAI, MGM Macau, Kenneth Feng, IMG, Macao Cultural Affairs Bureau, Deutsche Bank","focusai_location":"Macau, Macao East Asia Games Dome, Hac S\u00e1 Beach","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), product_ux (0.7), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Market Share Dynamics","query":"Given MGM China's significant market share increase to 15.2% in 2023, what specific operational efficiencies or marketing strategies contributed most to this outperformance relative to other concessionaires in the Macau GGR recovery?"},{"label":"Diversification Strategy ROI","query":"How does MGM China project the return on investment for its non-gaming diversification initiatives, such as the wellness IP program and international events, and what metrics will be used to assess their contribution to overall NGR and concession commitments?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-777013156","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\/777013156","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=777013156"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013156\/revisions"}],"predecessor-version":[{"id":777013182,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013156\/revisions\/777013182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25150"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}