{"id":777014150,"date":"2024-03-21T08:30:24","date_gmt":"2024-03-21T11:30:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014150"},"modified":"2026-04-22T11:49:44","modified_gmt":"2026-04-22T14:49:44","slug":"mgm-china-cancels-us750m-credit-facility","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-china-cancels-us750m-credit-facility","title":{"rendered":"MGM China cancels US$750m credit facility"},"content":{"rendered":"\n<p>MGM China posted a net revenue of HK$24.7bn for 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-<strong>\u00a0MGM China<\/strong>\u00a0has announced the termination of\u00a0<strong>a MOP5.99bn (US$750m) credit facility <\/strong>from its majority shareholder, MGM Resorts International.\u00a0The decision, according to a Hong Kong stock exchange filing, was made by the casino operator&#8217;s board of directors on March 15. MGM China said the credit facility, established in November 2022, remained unused at the time of the filing.<\/p>\n\n\n\n<p>MGM China reported\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/mgm-china-revenue-up-369-in-2023\" target=\"_blank\" rel=\"noreferrer noopener\">net revenue of HK$24.7bn (US$3.2bn) for 2023<\/a>, a rise of 369 per cent in year-on-year and up 9 per cent when compared to pre-pandemic 2019. The casino operator recorded adjusted EBITDA at a historical high of HK$7.2bn, representing 117 per cent of 2019 levels<\/p>\n\n\n\n<p><strong>Moody\u2019s Investor Services\u00a0<\/strong>has upgraded\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/moodys-upgrades-mgm-china-credit-outlook\" target=\"_blank\" rel=\"noreferrer noopener\">MGM China\u2019s credit outlook<\/a><strong>\u00a0<\/strong>from negative to stable. The company\u2019s senior unsecured notes rating has been affirmed at B1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM China posted a net revenue of HK$24.7bn for 2023.<\/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 has terminated an unused MOP5.99bn (US$750m) credit facility from its majority shareholder, MGM Resorts International, signaling robust financial health. This decision follows a strong 2023 performance, with net revenue reaching HK$24.7bn and adjusted EBITDA at a historical high, leading Moody\u2019s Investor Services to upgrade its credit outlook to stable.","focusai_entities":"MGM China, MGM Resorts International, Moody\u2019s Investor Services","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Capital Allocation Strategy","query":"How will MGM China's enhanced liquidity and reduced reliance on parent company financing impact its capital allocation strategy for future growth initiatives or shareholder returns in the Macau market?"},{"label":"Market Recovery Drivers","query":"What specific operational efficiencies or market segment performance drivers contributed to MGM China's adjusted EBITDA exceeding 2019 levels, and are these sustainable amidst evolving Macau gaming regulations?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-777014150","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\/777014150","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=777014150"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014150\/revisions"}],"predecessor-version":[{"id":777014181,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014150\/revisions\/777014181"}],"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=777014150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}