Operator News
China – MGM ‘building on momentum’ in Macau with 33 per cent revenue increase
By Phil - 13 February 2019
MGM China saw growth of 33 per cent year-on-year in 20198 with GGR reaching HK$19.2bn and adjusted EBITDA reaching HK$4.8bn, compared to HK$4.6bn a year ago.
MGM China recorded a growth of approximately 34 per cent year-on-year for mass table win, 59 per cent growth for slot win; and 13 per cent growth for VIP table game win.
Main floor gross table game win for the Quarter was up 13 per cent sequentially, compared to market growth of approximately nine per cent. VIP gross table games win was up 19 per cent, compared to market growth of approximately four per cent
MGM Cotai continued to ramp since the property opened in February 2018. All gaming segments recorded impressive sequential growth in both volume and win. Fourth-quarter revenue was up approximately 67 per cent to HK$2.2bn while adjusted EBITDA grew more than triple to HK$462.9m. Margin rose to 20.6 per cent for the quarter compared to 9.6 per cent in the previous quarter.
Targeting a broader market segment, MGM Cotai is equipped with expanded non-gaming offerings. The food and beverage outlets, especially Chinese dining, have been well received. Customers are also impressed by the one-of-the-kind experiences brought by MGM Cotai Theater. The Space had hosted various kinds of events and concerts with top artists including Sam Smith where both the audience and artists are fond of its design and quality. MGM has filled up the Theater’s entertainment calendar for 2019 in collaboration of effort with both the MGM Resorts International entertainment team and its Macau team. Its aim is to deliver multisensory theatre experiences unlike any others in Macau.
Grant Bowie, Chief Executive Officer and Executive Director of MGM China said: “We are building the momentum at MGM Cotai. We are also very excited about the launch of Mansion villas which aim to provide unique and exclusive experiences for our high-quality customers. Our focus is on getting all the elements at MGM Cotai fully open and continue to take market share. We believe MGM COTAI will drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourism destination.”
