MGM China’s Q3 net revenues up 10 pct from pre-pandemic level
Thursday 09 de November 2023 / 12:00
2 minutos de lectura
(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
SBC Summit 2025
16 de September 2025
Amatic Shines at SBC Summit Lisbon with Innovation and Legacy
(Lisbon, SoloAzar Exclusive).- At SBC Summit Lisbon, Amatic showcased a combination of continuity and innovation across its two brands, Amatic Online and Wildcat Gaming. Exclusive testimonials.
Friday 03 Oct 2025 / 12:00
Sportradar at SBC Summit Lisbon 2025: AI, Integrity, and Brazil’s Rising Influence in Global Gaming
(Lisbon, SoloAzar Exclusive).- Fernando Mora, Senior Sales Executive at Sportradar, reflects on a milestone presence at SBC Summit Lisbon 2025, where innovation, responsible growth, and Brazil’s emergence took center stage. Discover how Sportradar is shaping the future of sports betting through AI-driven solutions and global partnerships.
Thursday 02 Oct 2025 / 12:00
ProntoPaga Strengthens Its Position at SBC Summit Lisboa as a Leader in Digital Payments for iGaming in Latam
(Lisbon, SoloAzar Exclusive).- Juan Carlos Loza, Head of Sales Latam at ProntoPaga, shared the company’s achievements and progress during SBC Summit Lisboa 2025, where they reached a record number of strategic meetings. The team presented their 360° solution for the iGaming ecosystem, highlighted their leadership in local payments and instant payouts, and outlined the tech trends set to shape the future of the sector in Latin America.
Wednesday 01 Oct 2025 / 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.