MGM Cotai boosts company’s finances

MGM Cotai was opened in February 2018. Credits: Macau Daily Times.
MGM Cotai was opened in February 2018. Credits: Macau Daily Times.

MGM’s brand in China has reported a four per cent growth since the facility opened its doors in Macau.

Macau.- The inauguration of Macau new casino, MGM Cotai, last February has meant a considerable growth for the company’s economy, as proven by a recently-published report. The last few months, since the opening of its new Macau casino, MGM Resorts International’s brand in China reported a growth of four per cent, according to the company’s statement.

“Net revenues running to March 31, 2018, were at US$2.82 billion, compared to US$2.72 billion a year earlier. In China, the new opening helped net revenues move up to US$596 million, compared to US$475 million in the first three months of 2017,” revealed the statement published by Intergame Online this week.

Meanwhile, MGM Resort International’s operating income stood at US$360 million, which represents a decline from US$497 million compared to the same period of the previous year. In China, “operating income decreased by US$25 million in the period while MGM China’s operating income of US$55 million – down by US$20 million on the 2017 mark – was negatively impacted by US$51 million of pre-opening expenses connected with MGM Cotai’s February opening in Macau,” adds the report.

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