Good morning. It was a good year for MGM China, as Macau continued to accelerate its way out of the post-pandemic slump. Revenues topped $1 billion, despite a slight slowdown in Cotai and major drops in VIP spend. Looking ahead, the company is optimistic for continued growth in 2025. Meanwhile, in Thailand news, China’s president has expressed concern over the nation’s casino aspirations, asking for more information and warning of potential social problems they could create.
What you need to know
- MGM China 4Q24 results drive record year, despite drops in revenue from its Cotai property. Executives confident for 2025.
- China’s President expresses concern over the proposed casino-entertainment complex in Thailand, advising caution on potential social risks.
On the radar
- Bloomberry Resorts secures $688M syndicated refinancing facility.
- RGB eyes record growth, backed by expansions in the Philippines and Cambodia.
- Paradise Co. total casino sales jump 7.8% Y-on-Y in 4Q24.
- Thai entertainment complex success depends on attracting major international operators.
- Light & Wonder opens a new showroom in Clark, Philippines.
AGB Intelligence
MACAU
MGM China delivers strong year, boosted by 4Q24 results
MGM China saw strong revenue results in 2024, boosted by a 3 percent uptick in the fourth quarter, year-on-year. The company brought in some $1.01 billion in revenue during the quarter, despite a minor drop from its Cotai property, mitigated by improved results on the peninsula. However, VIP and mass table games drop were down. Executives are confident for 2025, based on the record contributions seen last year.
Industry Updates
- MGM secures seven 5-Star Awards from the Forbes Travel Guide 2025.
- BMM Innovation celebrates record-breaking financial performance in 2024.
- SpinOn and Yggdrasil begin a legendary journey with 9 Arrows of Odysseus.
Corporate Spotlight
1xBet’s 2024 Milestones: key achievements & heights of success
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
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