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MGM China doubles revenue in first half of 2021

US gaming company’s two hotels put in sterling performance, attributing success to premium mass market.

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US gaming company’s two hotels put in sterling performance, attributing success to premium mass market.

ARTICLE BY

PUBLISHED

UPDATED: 22 Dec 2023, 4:43 am

MGM China has announced that it recorded total revenue of HK$4.7 billion in the first half of the year, “nearly double” the HK$2.4 billion recorded in the six-month period in 2020. 

The US gaming company, which runs two casino-hotel resorts in Macao, also said that it recorded adjusted EBITDA of HK$200 million in the first half of the year, compared to negative adjusted EBITDA of HK$1 billion in the same period of last year. 

Second-quarter gross gaming revenue improved sequentially by 7 per cent from the first quarter. 

“MGM China continued to outperform the market given our strength in the premium mass market,” a spokesman said, adding that the company maintained a market share of about 11.2 per cent in the second quarter.

 

UPDATED: 22 Dec 2023, 4:43 am

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