According to the banking group Jefferies, revenue is expected to increase 7 per cent in the fourth quarter of 2024. <\/p>\n\n\n\n\n\n\n\n
Macau.- Investment bank Jefferies shared a memo Tuesday (January 14) indicating it expected MGM China<\/strong> to report a 7 per cent quarter-on-quarter GGR increase to HKD8.5bn (US$1.1bn)<\/strong> in its fourth-quarter 2024 results.<\/p>\n\n\n\n The institution added this would be \u201chigher\u201d than the Macau industry\u2019s anticipated 3 per cent sequential GGR expansion. \u201cWe believe (MGM China) gained market share thanks to strong performance from the VIP segment,\u201d wrote Jefferies analysts Anne Ling and Jingjue Pei.<\/p>\n\n\n\n According to the note, MGM China should report Adjusted EBITDA<\/strong> of around HK$2bn (US$250m) for the quarter ending December 31, 2024, representing a 5 per cent quarter-on-quarter increase.<\/p>\n\n\n\n Such quarter-on-quarter Adjusted EBITDA growth would be slower than MGM China\u2019s GGR growth as they budget for more operating expenses such as the Poly MGM Museum at MGM Macau<\/strong> that opened November 24 and the \u2018Macau 2049\u2032 show, launched in December 2024, said Jefferies.<\/p>\n\n\n\n They forecast MGM China\u2019s fourth-quarter GGR market share to reach 15.8 per cent, up 1.0 percentage points from the third quarter\u2019s 14.8 per cent.<\/p>\n\n\n\n The company\u2019s results are due for release on February 13, 2025<\/strong>.<\/p>\n\n\n\n In October, MGM China <\/strong>shared its financial results for the third quarter of the year<\/a>. Net revenue was HK$7.25bn (US$929m), up 14 per cent year-on-year but down 9 per cent sequentially<\/a>.<\/p>\n\n\n\n Casino revenue was up 12 per cent year-on-year to US$800m. The main floor table games drop was US$3.4m, reflecting a 4 per cent increase when compared to the third quarter of 2023. The main floor table games win was US$858m, up 21 per cent year-on-year.<\/p>\n\n\n\n The casino operator reported record property earnings before interest, taxes, depreciation, amortisation and restructuring (EBITDAR) of HK$1.98bn (US$237m), up 8 per cent year-over-year but down 19 per cent on the second quarter of the year. <\/p>\n\n\n\n According to the company, the current quarter was \u201cpositively affected by the recovery of operations after the removal of Covid-19 related travel and entry restrictions in the first quarter of 2023″.<\/p>\n\n\n\n According to the banking group Jefferies, revenue is expected to increase 7 per cent in the fourth quarter of 2024. <\/p>\n","protected":false},"author":226,"featured_media":7212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Jefferies forecasts MGM China to outperform the broader Macau market in Q4 2024, projecting a 7% quarter-on-quarter GGR increase to HKD8.5bn, driven by strong VIP segment performance and market share gains. Despite increased operating expenses from new attractions, Adjusted EBITDA is expected to rise 5% QoQ to HK$2bn, indicating robust operational leverage post-COVID recovery.","focusai_entities":"Jefferies, MGM China, Anne Ling, Jingjue Pei, Poly MGM Museum","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 Performance Drivers","query":"Beyond the VIP segment and new attractions, what specific operational efficiencies or marketing initiatives are contributing to MGM China's projected GGR outperformance and market share expansion relative to the Macau market average in Q4 2024?"},{"label":"Capital Allocation Strategy","query":"How do the increased operating expenses associated with new attractions like the Poly MGM Museum and 'Macau 2049' align with MGM China's broader capital allocation strategy, and what is the anticipated ROI timeline for these non-gaming investments?"}],"footnotes":""},"categories":[16338,163],"tags":[1618],"class_list":["post-777022008","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\/777022008","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777022008"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022008\/revisions"}],"predecessor-version":[{"id":777022017,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022008\/revisions\/777022017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7212"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Last report<\/h2>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"