MGM China revenue up 38 pct in 18Q3

Casino operator MGM China recorded a 38 percent increase in total revenue for the third quarter of 2018, driven by growth in both VIP and mass gaming segments.

Total revenue reached HK$4.8 billion in the quarter, while adjusted EBITDA was HK$1.1 billion.

Main floor table games drop was up 46 percent to approximately HK$14.8 billion, while slot handle increased 96 percent to approximately HK$15.2 billion.

VIP table games turnover increased 15 percent to HK$73.9 billion in the quarter.

MGM said the increase in VIP revenue was aided by the opening of two VIP rooms in September.

Looking ahead, the operator said it is focusing on further ramping up its Cotai resort.

President’s Club, an exclusive premium mass gaming area, is expected to launch later this year.

The company will also be launching Mansion villas in early 2019, which will provide “one-of-the-kind offerings for our high-quality customers.”

Grant Bowie, CEO and executive director of MGM China said: “Earlier this month we celebrated the launch of Hong Kong-Zhuhai-Macau Bridge. The infrastructure projects will allow people to move more freely, easily and quickly in the region. We believe the connectivity together with the integration of Greater Bay Area are significant for Macau to develop as a global tourism city.

“At MGM, we are excited to see a substantial growth of customer database since we opened the second integrated resort in Macau. We look forward to maximizing the opportunities to drive profitability and efficiency. We will continue to focus on investing in our properties, and offering unique MGM experiences for our customers.”