MGM China’s Q3 net revenues up 10 pct from pre-pandemic level
Thursday 09 de November 2023 / 12:00
⏱ 1 min read
(Macau).- Gaming operator MGM China reported net revenues of US$813 million (MOP6.5 billion) in the third quarter of 2023, representing a 10 per cent increase compared to the third quarter of the pre-pandemic year 2019, the company announced in a stock filing on Thursday morning.
Net revenues for the July-to-September period were 9.7 per cent higher than in the second quarter of this year and showed an 829 per cent increase year-on-year, when the city was under strict pandemic-related restrictions.
Meanwhile, adjusted Property EBITDAR reached US$226 million (MOP1.8 billion), up 23 per cent from the second quarter.
According to J.P. Morgan Securities (Asia Pacific), it was even 20 per cent higher than in 2019 and exceeded expectations by 3 per cent, primarily led by gains in mass market share.
The casino operator continued to increase its gross gaming revenue share, reaching 15.5 per cent in October, further up from 14 per cent in the third quarter.
Additionally, the company achieved its highest-ever monthly EBITDA that month.
The group’s MGM Cotai property continued to be the top performer in the SAR, accounting for 53 per cent (HKD 1 billion) of MGM China’s total Adjusted EBITDA, with MGM Macau achieving the remaining HKD 880.5 million.
“MGM China is performing exceptionally well, and we have a pipeline of development opportunities, including New York and Japan, alongside the growth and development of our international digital business and BetMGM,” said Bill Hornbuckle, Chief Executive Officer and President of the parent company MGM Resorts. MGM Resorts reported a consolidated revenue of US$4 billion (MOP 32 billion), indicating a 16% year-on-year increase.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
