Sunday, June 16, 2024

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Daily Asia Gaming eBrief: MGM China breaking records again in the first quarter

The lion continues to roar. MGM China posted record-breaking results again for the first quarter, showing how the group is clawing out even more market share and truly leveraging its Cotai Strip property for maximum gain, particularly from the mass segment.

MGM China first quarter results outshine pre-COVID era, company continues gaining market share

MGM China has announced its continued resurgence in the first quarter of the year, with record high adjusted EBITDA and market share during the period.

High indebtedness could pose future repayment challenges: MGM China

MGM China has warned in a recent report that its 'high indebtedness' could 'pose challenges' for the operator to meet its obligations regarding unsecured notes.

MGM China outperformed highest expectations and surpassing 2019 levels – Brokerages

MGM China results for the fourth quarter beat the highest expectations and surpassed even 2019 pre-pandemic levels, several analysts and brokerages stated.

MGM China’s 2023 adjusted EBITDA reached a historical high of $921M

Macau gaming operator MGM China experienced a record-breaking year in 2023, witnessing record-high performance across segments and continuing to outperform industry recovery.

Deutsche Bank raises MGM China’s 4Q23 EBITDAR forecast to $254M

Analysts from Deutsche Bank raise MGM China’s 4Q23 EBITDAR forecast from the previous $231 million to $254 million due to the strong performance in the period.

MGM China staff set to enjoy salary increases up to 6.5%

MGM has announced pay rises for its team members effective from March 25, 2024.

MGM China announces CNY one-month salary staff bonus

MGM China announced that a discretionary bonus, equivalent to one month’s salary, will be paid to eligible team members.

Diversification goal will not prevent casino revenue growth: MGM China Executive Director Pansy Ho

The planned investment by Macau gaming concessionaires in non-gaming elements will not prevent casino revenues from increasing in the future, the Chairperson and Executive Director of MGM China, Pansy Ho, commented recently.

MGM China extends partnership for consultancy services with Occasions

MGM China Holdings Limited, a Macau gaming operator, has renewed its consultancy services agreement with the communications group Occasions.