In a regulatory filing, the integrated resort operator said tourism in Macao showed ‘a robust recovery’ in 2023, after the ‘severely inhibited travel’ of the pandemic years.
gaming results
The gaming operator attributes its improving performance to open borders and new offerings – including the luxury hotel, Epic Tower.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands, Sands China’s controlling shareholder, said he was pleased to see recovery “accelerate during the quarter”.
The company says its performance last year was attributable to the pandemic, but analysts say it will make a strong comeback in 2023.
Company’s revenues in three months to 31 December 2022 dropped by 41.57% year-on-year from US$325.66 million to US$190.26 million.
Gambling revenue in Macau fell 5 percent in January, the first drop in more than two years, Macau’s Gaming Inspection and Coordination said on Friday.
During the first half of this year, MGM China recorded a total revenue of HKD7.4 billion, an increase of 3 percent year-on-year. Adjusted EBITDA was HKD2.2 billion, an increase of 11 percent from last year.
Galaxy Entertainment Group (GEG) and SJM Holdings reported on Tuesday their 2016 results. According to a GEG statement to the Hong Kong Stock Exchange, the company recorded a full-year net profit attributable to shareholders (NPAS) of HK$6.3 billion.
Gaming operator MGM China reported a total revenue of HKD14.9 billion for the 2016 financial year. In the year under review, MGM China recorded an EBITDA of HKD4.5 billion, a slight dip from HKD4.7 billion in 2015.
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