{"id":777019351,"date":"2024-09-25T09:27:25","date_gmt":"2024-09-25T12:27:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777019351"},"modified":"2026-04-22T05:47:47","modified_gmt":"2026-04-22T08:47:47","slug":"mgm-resorts-cfo-speaks-at-deutsche-bank-annual-leveraged-finance-conference","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-resorts-cfo-speaks-at-deutsche-bank-annual-leveraged-finance-conference","title":{"rendered":"MGM Resorts CFO speaks at Deutsche Bank Annual Leveraged Finance Conference"},"content":{"rendered":"\n

Jonathan Halkyard hailed MGM China’s performance.<\/p>\n\n\n\n\n\n\n\n

Macau.- Jonathan Halkyard, the chief financial officer (CFO) of MGM Resorts International<\/strong>, has hailed the company’s performance in Macau. Speaking at the Deutsche Bank 32nd Annual Leveraged Finance Conference on Tuesday (September 24), he said that despite having only 12.5 per cent of the gaming tables and less than 10 per cent of the suites, MGM China has consistently maintained a market share in the mid-teens. <\/p>\n\n\n\n

Halkyard said he had “not seen any real uptick in promotional activities in Macau, nor have we engaged in other than what I consider to be some pretty smart moves by our local management team there to introduce offers and products that our customers really like that are not particularly expensive but keep them visiting our properties.”<\/p>\n\n\n\n

As for the company’s integrated resort (IR) in Osaka<\/strong>, Japan, Halkyard said it would break ground next May, although work has already commenced. He emphasised the importance of Expo 2025 on Yumeshima Island as it will provide infrastructure for the IR in terms of transportation and site improvements.<\/p>\n\n\n\n

The IR is expected to cost JPY1.27tn (US$ 8.9bn)<\/a>\u00a0and is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. It will also include hotels, shopping areas, convention areas and facilities.\u00a0Operations are slated to commence by autumn 2030. Halkyard noted that the group completed a billion-dollar bank financing in March. He said equity investments have already begun with almost US$200m this year.<\/p>\n\n\n\n

See also:<\/strong> MGM-led consortium waives option to withdraw from Osaka IR development deal<\/a><\/p>\n\n\n\n

MGM China reported in August that its first-half adjusted EBITDA margin reached a record high of 30.5 per cent, compared to 29.7 per cent for the same period in 2023 and 27.2 per cent in 2019. Its market share of GGR in Macau increased from 14.9 per cent to 16.5 per cent in year-on-year terms.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jonathan Halkyard hailed MGM China’s performance.<\/p>\n","protected":false},"author":176,"featured_media":20685,"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 Resorts International's CFO, Jonathan Halkyard, highlighted MGM China's robust performance in Macau, achieving record EBITDA margins and increased GGR market share through strategic management rather than aggressive promotions. He also provided an update on the Osaka IR project in Japan, detailing its significant investment, projected revenues, and development timeline, emphasizing its strategic importance and financing progress.","focusai_entities":"Jonathan Halkyard, MGM Resorts International, MGM China, Deutsche Bank","focusai_location":"Macau, Osaka, Japan, Yumeshima Island","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau GGR Strategy","query":"What specific 'smart moves' by MGM China's local management contributed to GGR market share growth without significant promotional spend, and are these scalable across other jurisdictions?"},{"label":"Osaka IR ROI","query":"Given the JPY1.27tn investment for the Osaka IR, what is the projected return on investment timeline, and how will the 80% casino revenue target be de-risked amidst potential regulatory or market shifts?"}],"footnotes":""},"categories":[157,16338],"tags":[1618,16615],"class_list":["post-777019351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-mgm-china","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019351","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=777019351"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019351\/revisions"}],"predecessor-version":[{"id":777019381,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019351\/revisions\/777019381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777019351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777019351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777019351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}