The company expects to spend HK$1.34bn (US$172m) on the dividend.<\/p>\n\n\n\n\n\n\n\n
Macau.- MGM China Holdings has announced that it will pay a special dividend of HK$0.353 per share. The company expects to spend HK$1.34bn (US$172m) on the dividend, which is scheduled to be paid on October 4.<\/p>\n\n\n\n
The decision was made after a review of the company’s financial position, cash flow and future capital requirements. The casino operator said that, following this payment, it will still have adequate resources to fund its operations, business development, and commitments to the Macau government under its Macau gaming concession.<\/p>\n\n\n\n
For the second quarter of the year<\/a>, MGM China posted a net revenue of HK$7.95bn (US$1.02bn), up 37 per cent year-over-year and slightly down on the HK$8.3bn reported in the first quarter<\/a>.<\/p>\n\n\n\n The company reported record property earnings before interest, taxes, depreciation, amortisation and restructuring (EBITDAR) of HK$2.44bn (US$312.7m), up 39.8 per cent year-over-year. The company attributed the result to the continued ramp-up of operations after the removal of Covid-19-related travel restrictions in the first quarter of 2023. Property visitation reached 156 per cent of 2019 levels.<\/p>\n","protected":false},"excerpt":{"rendered":" The company expects to spend HK$1.34bn (US$172m) on the dividend.<\/p>\n","protected":false},"author":176,"featured_media":17661,"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 has declared a special dividend of HK$0.353 per share, totaling HK$1.34bn (US$172m), payable on October 4. This decision follows a robust Q2 performance, with net revenue up 37% YoY and record property EBITDAR, driven by the post-Covid-19 operational ramp-up and increased visitation in Macau. The company affirms sufficient resources remain for ongoing operations and Macau gaming concession commitments.","focusai_entities":"MGM China Holdings","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Dividend Impact on Capital","query":"What is the projected impact of this special dividend on MGM China's future capital expenditure plans and its ability to fund potential non-gaming investments mandated by the Macau government?"},{"label":"Macau Market Outlook","query":"Given the robust Q2 performance and visitation exceeding 2019 levels, what is the revised outlook for Macau's GGR growth and MGM China's market share in the latter half of the fiscal year?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-777018622","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\/777018622","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=777018622"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018622\/revisions"}],"predecessor-version":[{"id":777018638,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018622\/revisions\/777018638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17661"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}