MGM China’s daily GGR in the second quarter increased by eight per cent year-on-year to MOP671.6m per day, accelerated from MOP640.6m per day in the first quarter. Daily visitation reached 102,812, representing a year-on-year growth of 19 per cent, having recovered to 94 per ent of same period in 2019.
On a quarter-on-quarter basis, net revenue was up 8.4 per cent to HK$8.7bn while adjusted EBITDA was up 6.1 per cent, marking the quarter as a historical high. Adjusted EBITDA has surpassed 2019 pre-COVID levels by 172 per cent. Market share grew to approximately 16.6 per cent from 16 per cent a year ago. MGM COTAI market share was approximately 10.5 per cent and MGM MACAU market share was approximately 6.2 per cent.
The Group has completed construction of Alpha Villas at MGM MACAU during the Period, and all 28 villas are now available as of July. The villas have been well received by customers as we adapt to their latest tastes and trends.
Kenneth Feng, President and Executive Director of MGM China, said: “We are delighted to see another quarter of growth driven by our deep understanding and customers and our ability to refresh our products and offerings to cater to customers’ taste.
“Following the launch of Alpha Villas, MGM COTAI has begun converting rooms into around 60 new suites, all of which will help us further uphold our complimentary positioning of the properties with MGM MACAU as a leading property on the Peninsula and MGM COTAI as the preferred destination for premium customers.
“We are committed to bringing more unique and quality experiences to our visitors, to align our offerings with the Macau Government’s vision to develop the city into a global and diversified tourist destination,” said Kenneth Feng.
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MGM China’s daily GGR in the second quarter increased by eight per cent year-on-year to MOP671.6m per day, accelerated from MOP640.6m per day in the first quarter. Daily visitation reached 102,812, representing a year-on-year growth of 19 per cent, having recovered to 94 per ent of same period in 2019. On a quarter-on-quarter basis, net…
The post MGM reaches a historical high with best-ever quarterly EBITDA appeared first on G3 Newswire.