MGM China has announced a 3.16 percent yearly increase in its total revenue for the fourth quarter of 2024, totaling nearly HK$7.92 billion ($1.01 billion).
According to results published by its parent company, MGM Resorts, on Thursday, revenue from its Cotai property fell by about 1 percent year-on-year, to nearly $4.58 billion ($587.81 million).
However, revenue from the Macau peninsula property rose by 9.44 percent yearly, to HK$3.34 billion ($428.87 million).
Adjusted EBITDA for the peninsular property also increased on a yearly basis, up by 10.42 percent in MGM Macau – to HK$910.64 million ($116.9 million). However, MGM Cotai saw a drop of nearly 11 percent – to HK$1.21 billion ($156.06 million).
Overall casino revenue for MGM China rose by some 4 percent yearly, hitting $855 million, despite a drop in main floor table games drop of 5 percent – to $3.58 billion.
Both of the group’s Macau properties saw falls in main floor table games drop during the quarter, topping out at HK$13.8 billion at MGM Macau and HK$14.04 billion at MGM Cotai.
VIP table games turnover similarly saw yearly falls. MGM Cotai suffered a significant drop of 16.16 percent to HK$23.45 billion. MGM China VIP table games turnover was down by a staggering 39 percent yearly, to just HK$5.53 billion.
The slot machine handle for both properties saw slight increases in the fourth quarter.
Net revenue for the group totaled nearly $1.02 billion in the quarter, up by nearly 3.7 percent year-on-year.
Speaking of the results MGM Resorts International CEO Bill Hornbuckle noted that “MGM Resorts is proud to report the best full-year consolidated net revenues in the history of the Company, driven by record performance from MGM China.
“We’re also encouraged by the strong demand we’re seeing in the business so far in 2025, which positions us well for continued growth,” indicated the executive.
Looking at the full-year results, MGM China saw net revenues increase by 28 percent yearly, to $4 billion, with segment adjusted EBITDAR rising by a quarter, to $1.1 billion.
