Tag Archives: MGM China
China – MGM confirmă angajamentul față de Macao și consideră 2021 ca un an de creștere
Despite the effects of the downturn in travel due to the pandemic and the promise of huge investment in Japan, MGM China has confirmed it is committed to Macau and will spend more money on its existing properties there to help boost both venues’ return to growth. Commenting on MGM China’s 2020 Annual Report, MGM…
China – Veniturile MGM China au scăzut cu 78% față de 2020
With Macau still under the ‘severe impact of the COVID-19 pandemic,’ MGM China saw revenue down by 78 per cent for the year to approximately HK$5.1bn. The Group had a negative adjusted EBITDA of approximately HK$1.4bn. Total visitation to Macau in 2020 was 5.9m, compared to 39.4m in 2019. Overall hotel occupancy in Macau was…
China – MGM China has ‘no plans of restructuring’ in Macau
MGM Resorts has signalled its ‘commitment’ to Macau following a request from its biggest shareholder to sell 20 per cent of MGM China’s shares, but has stated it has no intention of selling shares to meet demands to diversify. MGM stated: “The board of directors of the company is aware of an open letter issued…
China – MGM China vede o creștere de 42% în Macao de la un trimestru la altul
With the Macau gaming market still under the severe impact of COVID-19 pandemic in the third quarter of the year, MGM China continued to experience low visitation levels primarily driven by various travel restrictions and quarantine measures for the three months and nine months ended September 30, 2020. During the third quarter of the year,…
China – Fitch prezice o scădere a veniturilor MGM cu 19% în T4
Agenția de rating Fitch a oferit ofertei publice de 750 de milioane de dolari a MGM China și MGM International o perspectivă negativă, reflectând „riscurile și incertitudinea cu care se confruntă industria globală a jocurilor de noroc din cauza pandemiei”, adăugând că consideră că veniturile la cazinourile MGM din Macao vor fi de 19% scazut de la an la an. MGM intenționează să utilizeze veniturile nete din...
China – MGM ‘encouraged to see lifting of quarantine measures’ as first half revenues fall 77 per cent
During the first half of the year, MGM China recorded total revenue of approximately HK$2.4bn. The group saw a negative adjusted EBITDA of approximately HK$1bn. Overall occupancy rate was 19.8 per cent. The results were severely impacted by the COVID-19 pandemic with MGM saying it continues to be impacted today. China has implemented temporary suspension…
China – MGM China secures US$302m of revolving credit
MGM China has agreed to new finance deals with with its lenders giving it a revolving credit facility of US$302m with an option to increase to US$503m on certain conditions. MGM said: “On May 26, 2020, the Company entered into agreements with certain lenders pursuant to which the lenders agreed to make available to the…
China – MGM China a scăzut cu 63% în primul trimestru
The COVID-19 casino closures in Macau forced a 63 per cent dip in revenues on operator MGM China Holdings with the company’s MGM Cotai and MGM Macau reporting net revenues of US$272m for the three months to March 31 2020. In the first quarter, MGM China saw an adjusted negative EBITDA of HK$0.1bn with overall…
China – MGM China recurge la credite suplimentare, deoarece veniturile scad cu 63%.
MGM China saw its first quarter revenue fall by 63 per cent year-on-year to US$272m (MOP2.1bn). The company said said its Macau casinos were incurring cash operating expenses, exclusive of rent, interest, variable gaming taxes, corporate expense and expected capital expenditures, of around US$1.5m per day. The operator stated: “We compete with a large number…
