MGM China Reportedly Looking to Borrow $2BMGM China, the China-facing division of gaming & hospitality giant MGM Resorts, is reportedly looking to borrow $2 billion to expand its properties in Macau and refinance its outstanding debt.A Loan Makes Sense Considering MGM China’s Strong PositionAcco
MGM Resorts Posts Strong 2024 Report Despite Mixed Q4Gaming giant MGM Resorts has posted its results for 2024, reporting an all-time high net revenue, underpinned by the steady growth of MGM China. The BetMGM digital business, on the other hand, is nearing profitability.The Q4 Report Was MixedThe fo
MGM Resorts International posted record full-year revenue of $17.2 billion in 2024, a 7% increase from the previous year, driven by a strong performance from its Macau operations, the company said on Wednesday. MGM China, which benefited from Macau’s post-pandemic recovery, recorded a 25% year-over
MGM China is expected to report solid financial results for Q4 2024, with Adjusted EBITDA projected to reach HK$2 billion ($250 million), marking a 5% increase from the previous quarter. This growth reflects continued momentum as the company capitalizes on its post-COVID recovery. According to inves
MGM China Unveils Salary Increase for 99% of Its WorkforceMGM China Holdings Limited, a leading casino and hospitality giant in Macau, has unveiled a new salary increase that will affect most of its workers. The company thanked its workers for their hard work and incredible commitment, which have dr
MGM China should report Adjusted EBITDA of around HK$2 billion (US$250 million) for the December 2024 quarter, representing a 5% quarter-on-quarter increase and continuing its post-COVID momentum, according to investment bank Jefferies.Gross gaming revenue is also tipped to grow by 7% quarter-on-qua
The adoption of smart gaming tables across the market and the launch of new high-end hotel suite products will likely mean much greater competition between concessionaires in the Macau market, according to a leading MGM China executive.Vivian Chan, the company’s SVP Finance and Acting CFO, detailed
MGM Resorts International has reported record net revenues in the third quarter of 2024, primarily driven by growth in MGM China operations.Reflecting on the results, CEO and President Bill Hornbuckle noted that the operator is “well positioned for long-term growth” thanks to the “positive inflectio
MGM China has outlined a series of substantial upgrade projects across its two Macau integrated resorts as key to sustaining market share in the mid-teens following another record-breaking quarter for the company.The September 2024 quarter saw MGM China book all-time records for both revenue and Adj
MGM Resorts International has reported record net revenues in the third quarter of 2024, primarily driven by growth in MGM China operations.Reflecting on the results, CEO and President Bill Hornbuckle noted that the operator is “well positioned for long-term growth” thanks to the “positive inflectio
MGM Resorts reported record revenue of $4.2 billion for the third quarter of 2024. The company’s results were buoyed by record revenue of $929 million for MGM China and record adjusted property EBITDAR of $1.1 billion.“We are pleased to report record consolidated net revenues for the third quarter,
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