Mgm China Stock Price, News & Analysis

MGM Resorts International announced a new 10-year gaming concession contract awarded to MGM Grand Paradise, which is 56% owned by them. Over the next decade, MGM China will invest approximately $2 billion, with 50% allocated to capital expenditures and the other half to operating expenses. This investment aims to develop international tourist markets and diversify non-gaming projects, supporting future growth. MGM China will also increase its table games from 550 to 750, enhancing market share opportunities.

MGM China Holdings Limited reported significant challenges for Q3 2022 due to ongoing impacts from the COVID-19 pandemic. Total revenue fell to HK$687 million, down from HK$1.1 billion the previous quarter. The company experienced a negative adjusted EBITDA of HK$536 million, and occupancy dropped to 21%. However, MGM China is optimistic about Macau’s future, having submitted a bid for a new gaming concession amid signs of recovery as electronic travel permits for mainland residents were accepted starting November 1.

MGM China Holdings Limited announced its financial results for the first half of 2022 amidst the ongoing COVID-19 pandemic, reporting a 46% drop in gross gaming revenue compared to the previous year. The company's total revenue fell to HK$3.2 billion, with negative adjusted EBITDA of HK$337 million. The occupancy rate was 37.6%, down from 61.5% a year prior. Despite these challenges, MGM China is preparing to participate in the public tender for gaming concessions, expressing confidence in Macau's future development.

MGM China Holdings Limited announced its financial results for Q1 2022, amidst ongoing COVID-19 impacts in Macau and Greater China. Despite a 25% decline in gross gaming revenue across Macau, MGM China outperformed with a daily gross gaming revenue at 35% of pre-pandemic levels. The company reported total revenue of approximately HK$2.1 billion and adjusted EBITDA of HK$46 million. Market share grew to 13.3% from 11.5% year-on-year. MGM maintained total liquidity of about HK$12 billion as of March 31, 2022, highlighting a solid financial position.

MGM China Holdings Limited reported significant financial recovery in 2021 despite ongoing COVID-19 challenges. Net revenue surged by 85% to approximately HK$9.4 billion, while adjusted EBITDA turned positive at approximately HK$390 million. The Group's daily gross gaming revenue rose by 81% year-on-year, reaching HK$29 million. Notably, MGM Macau and MGM Cotai both achieved substantial increases in revenue. The company also launched the award-winning Emerald Villa. MGM China's market share increased to 12.5%, and liquidity stood at approximately HK$13.2 billion as of December 31, 2021.

MGM China Holdings Limited reported its third-quarter results for 2021, revealing a 26% decline in Macau's gross gaming revenue to MOP18.8 billion due to COVID-19 impacts. Despite this, MGM's market share rose to 13.8% from 11.2%, with revenue at approximately HK$2.2 billion, down 7% from the previous quarter. The company maintained a robust liquidity position of HK$13.4 billion. The newly launched Emerald Villa received international design accolades, enhancing MGM's luxury offering.

MGM China Holdings Limited reported a strong financial performance for the first half of 2021, with total revenue reaching approximately HK$4.7 billion, nearly double the HK$2.4 billion from the same period last year. Market-wide gross gaming revenue increased by 45%. The Group's adjusted EBITDA improved to HK$200.4 million, a recovery from a negative HK$1.0 billion in 2020. However, June saw a downturn due to travel restrictions amid COVID-19 outbreaks, impacting visitation rates. The company ended June with a robust liquidity of approximately HK$13.7 billion.

MGM China Holdings Limited reported its first-quarter financials for 2021 amid ongoing COVID-19 impacts. Despite a 22% year-over-year decline in market-wide gross gaming revenue (GGR), MGM China outperformed, recovering to 40% of pre-pandemic levels, compared to the market's 33%. The company achieved HK$2.3 billion in total revenue, up 9% from last year, with adjusted EBITDA at HK$84 million. Market share increased to 11.5%. The firm maintains a strong liquidity position of HK$14.3 billion and anticipates gradual recovery driven by the premium mass market.

MGM China Holdings reported a challenging year due to the COVID-19 pandemic, with 2020 revenue plummeting by 78% to approximately HK$5.1 billion and a negative adjusted EBITDA of about HK$1.4 billion. Total visitation in 2020 fell to 5.9 million from 39.4 million in 2019. However, Q4 yielded a significant recovery with revenue climbing 550% to approximately HK$2.4 billion. Adjusted EBITDA for Q4 turned positive at approximately HK$367.2 million. Market share improved to 12.6% in Q4. As of December 31, 2020, MGM China maintained a strong liquidity position of around HK$9.5 billion.