Saturday, December 2, 2023

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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.

MGM China dismisses rumors of Pansy Ho share sales

MGM China’s Chairperson Pansy Ho has quelled rumors that she is planning to sell her stake in the company, after a recent share movement disclosed by media.

MGM China supports Tung Sin Tong’s annual fundraising campaign for the 16th consecutive year

MGM China presented another year of support to Macau Tung Sin Tong Charitable Society’s annual fundraising campaign with a donation of MOP700,000 ($87,000)

Daily Asia Gaming eBrief: MGM China 3Q23 revenue up 829 percent yearly

MGM China saw a stellar third quarter, with revenues rising by some 829 percent yearly, as the operator took full advantage of its new table allocation and positive market sentiment The group saw casino revenue rise by 915 percent, to $714 million, with MGM Cotai contributing strongly - at $432 million.

MGM China revenue up 829 percent, EBITDA up 23 percent yearly in 3Q23

MGM China saw a stunning third quarter, with net revenues up some 829 percent, to $812.52 million, a rise of 10 percent compared to the same quarter in 2019.

Slower recovery pace prompts Deutsche Bank to lower MGM China 2024 forecast

The expected slower recovery pace in the market has prompted Deutsche Bank to revise its 2024 MGM China property EBITDAR forecast, reflecting a 4 percent decrease from their previous estimate.

MGM China launches “Macau Cruise”, a sightseeing cruise enriching its non-gaming offerings

To follow its commitment to non-gaming betting, Macau gaming operator MGM China officially launched its new amenity - a sightseeing cruise on Tuesday.

MGM China enters Hang Seng’s Corporate Sustainability Benchmark Index

MGM China Holdings Limited has been selected as a constituent of the Hang Seng Corporate Sustainability Benchmark Index (“HSSUSB”) with immediate effect based on its outstanding performance in environmental, social, and governance (ESG) practices.

MGM China sales team expansion shows confidence: Citigroup 

Citigroup noted that MGM's management is 'showing confidence in the market', MGM China's President and Chief Operating Officer Hubert Wang revealed that the company will double the headcount of its international sales and marketing team

MGM China roars back in 2Q23, with EBITDAR at $209 million

MGM China saw a sharp rise in revenue during the second quarter of the year, topping out at $741 million, compared to $143 million in 2Q22, an increase even of 5 percent compared to the same quarter of 2019. The group also recorded a strong adjusted property EBITDAR of $209 million, compared to a loss of $52 million in the same quarter of last year, and a 21 percent rise compared to 2Q19.