MGM China H1 revenue up 30 percent

MGM cotai
MGM Cotai

MGM China Holdings Limited said its H1 revenue rose 30 percent, helped by the February opening of its new Cotai resort.

For the six months, total revenue came in at $9.1 billion, while adjusted EBITDA edged up to $2.3 billion from $2.2 billion a year earlier.

Main floor table games win for the group increased 31 percent year-on-year to $5.2 billion and slot win increased 65 percent to $1.1 billion. VIP table games win was up 11 percent to $4.5 billion.

At its peninsula property, MGM Macau, main floor table games win slipped 8 percent on a lower hold of 17.9 percent from 20.8 percent a year ago. Slot win was up 16 percent and VIP table games win grew by 7 percent.

For the period, MGM Cotai recorded property EBITDA of $261 million on hotel occupancy of 88.6 percent.

The company said it expects junket rooms to begin operation at MGM Cotai before Golden Week.

“With the opening of our second integrated resort in Macau, we are excited to see a growth of our customer database and the ramping up of MGM COTAI,” said MGM China CEO Grant Bowie.