MGM says that it made a comfortable $5 million per day during the Chinese New Year holiday, as Macau reopened and tourists came flooding back in.
The company’s mass volumes were 100 percent over their 2019 levels, aided in part by the addition of about 200 new gaming tables under the new 10-year gaming concession which came into effect on January 1st.
MGM Resorts CEO and president, Bill Hornbuckle, mentioned that “the rebound come January 8 was pretty much instant. We peaked during Chinese New Year making a little over US$5 million per day, achieved 16 percent market share”.
MGM China President and COO Hubert Wang added that the 16 percent market share achieved in January is “the highest” in the concessionaire’s history, with both daily mass GGR and direct VIP volumes having exceeded 2019 levels.
The encouraging results, Hubert said, put MGM China comfortably ahead of the market average since Macau’s January 8th reboot.
Wang also noted regarding the start of the current calendar year that “it is also very encouraging to see that the January [daily] run rate extended into the first week of February.”
Besides, Mr. Hornbuckle took notice that MGM China’s combined properties became “the highest earning businesses of the company” through January this year.
According to official statistics, Macau welcomed some 451,000 tourist arrivals during the seven-day Chinese New Year Golden Week, between January 21st and 27th,
Visitor figures surpassed expectations of the local government and business sector in the city, being a three-fold jump (297 percent increase) from last year.
