MGM China closes first half of 2021 with revenue of US $ 296 million

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MGM China closes first half of 2021 with revenue of US $ 296 million

MGM China Holdings Limited posted US $ 296 million in revenue for the first quarter of 2021. This is an increase of 9% compared to the quarter of the previous year. Adjusted total EBITDA (earnings before interest, taxes, depreciation and amortization) was $ 10.8 million, against a loss of $ 15.7 million in 2020.

O volume de negócios dos jogos de mesa VIP no MGM Macau também ficou abaixo da quantia registrada no último ano. Enquanto a taxa de ocupação dos quartos no MGM China foi de 81%, quase o dobro dos 44% registrados no mesmo período em 2020. Não MGM Cotai, o índice de reserva das suítes girou em torno de 47%.

The turnover of VIP table games at MGM Macau was also below the amount registered in the last year. While the room occupancy rate at MGM China was 81%, almost double the 44% recorded in the same period in 2020. Not MGM Cotai, the suite booking rate was around 47%.

However, table game wins at MGM China increased by 23% and VIP table game wins decreased by 28%. The company has made a slow recovery compared to the fourth quarter of 2020, but the numbers have not yet reached levels prior to the COVID-19 pandemic.

MGM China remains optimistic about Macau’s market recovery

However, MGM China remains optimistic about the recovery of the Macau market. “We remain confident in Macau’s long-term growth prospects and will continue to invest in strengthening our market position,” said Hubert Wang, the company’s president and COO.

Wang added: “We will continue our effort and diversification strategy, along with our entertainment assets and the art and culture niche. We are committed to helping Macau to become a world tourist destination ”.