Revenue increase for MGM China
VIP gaming helped the casino operator achieve a 38% increase in revenues in the third quarter.
Macau.- MGM China has reported its financial results for the third quarter of the year, which indicate that total revenue increased 38% to €538 million in the quarter, while adjusted EBITDA was €123 million.
The operator said that main floor table games revenue was up 46% to €1.6 billion, and slot handle rose 96% to almost €1.7 billion. VIP table games turnover rose 15% to €8.2 billion during the three month period ended September 30. MGM attributed the increase in VIP revenue to the opening of two VIP rooms in September.
Grant Bowie, CEO and executive director of MGM China, said: “Earlier this month we celebrated the launch of Hong Kong-Zhuhai-Macau Bridge. The infrastructure projects will allow people to move more freely, easily and quickly in the region. We believe the connectivity together with the integration of the Greater Bay Area are significant for Macau to develop as a global tourism city.
“At MGM, we are excited to see a substantial growth of customer database since we opened the second integrated resort in Macau. We look forward to maximising the opportunities to drive profitability and efficiency. We will continue to focus on investing in our properties, and offering unique MGM experiences for our customers,” Bowie added.
