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MGM CHINA HLDGS UNSP/ADR - $MCHVY STOCK NEWS

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Rhea-AI Summary

MGM China Holdings reported record-high performance and market share for the first quarter of 2024. The company saw significant growth in gross gaming revenue, mass GGR, net revenue, adjusted EBITDA, and market share in Macau. MGM China maintained a strong financial position with total liquidity of HK$16.9 billion and proposed a final dividend of HK$0.347 per share for the year 2023. The company's focus on customer service and innovation contributed to its outstanding performance and confidence in the future of Macau.

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MGM China Holdings Limited reports record-high performance across segments, with significant growth in market share and margin. The company's financial data for 2023 shows strong recovery in Macau, with impressive increases in daily visitor arrivals and gross gaming revenue. MGM China's net revenue grew by 369% from 2022, reaching HK$24.7 billion, and adjusted EBITDA hit a historical high of HK$7.2 billion, representing 117% of 2019 levels. The company's market share increased to 15.2% in 2023, up from 9.5% in 2019, with improved EBITDA margin of 29.3%. Quarterly performance also showed consistent growth, with fourth-quarter adjusted EBITDA up 16% from the previous quarter. The company maintained a healthy financial position with total liquidity of approximately HK$21.5 billion as of December 31, 2023.
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MGM China Holdings Limited (SEHK: 2282) reports strong financial performance with visitation recovery boosting gross gaming revenue and adjusted EBITDA. Macau visitation and industry GGR have surpassed 2019 levels, with a 7% rise in GGR quarter-to-quarter. Net revenue grew by 10% to HK$6.4 billion for the quarter compared to 2019. MGM China maintained a market share of 14.3% for the quarter, with adjusted EBITDA margin growing 280 basis points to 29.6% from 26.8% in 2019.
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MGM China Holdings announced strong financial results for Q2 2023, with adjusted EBITDA surpassing pre-COVID levels and market share reaching 15%. Visitation and gross gaming revenue have recovered significantly, contributing to the positive performance.
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MGM China Holdings Limited announced its unaudited financial data for Q1 2023. Macau experienced a pick-up in visitation, with average daily visitor arrivals reaching 55,000 compared to 21,000 a year ago. The market gross gaming revenue (GGR) nearly doubled to MOP385 million, representing a 45% recovery of Q1 2019. MGM China's net revenue increased by 131.2% YoY to HK$4.8 billion, reaching 84% of Q1 2019. The company saw a record high mass GGR at 107% of Q1 2019 and achieved a market share of 15.4% during the period.
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MGM CHINA HLDGS UNSP/ADR

OTC:MCHVY

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