MGM China Holdings Limited, a Macau gaming operator, has renewed its consultancy services agreement with the communications group Occasions.
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 presented another year of support to Macau Tung Sin Tong Charitable Society’s annual fundraising campaign with a donation of MOP700,000 ($87,000)
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 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.
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.
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 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.
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 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.