MGM China releases financials for first half of 2024

MGM China Holdings Limited (MGM China) released selected aspects of its financial data for the first half of 2024.

The current report shows that MGM China’s business in Macau continues to grow. Total visitor arrivals in the first half of the year were up by 43 percent, registering around 91,868 arrivals a day. 

Current figures also show that visitor numbers have already recovered around 82 percent of what was seen in the first half of 2019, the year before the pandemic hit. 

Improved gaming revenues

Gross gaming revenue (GGR) in Macau was up 41 percent from the same period last year to MOP 625 million per day.

This represents a recovery of around 76 percent of the gaming facilities’ numbers in 2019. 

Mass gaming revenue also rose by 45 percent compared to where it was last year. The continuous growth of the mass market has boosted industry EBITDA, enabling it to recover by around 80 to 85 percent of pre-pandemic levels.

What a performance

MGM China president and executive director Kenneth Feng said of the company’s performance: “We are delighted to see our continuous growth and outperformance driven by our deep understanding of customers and our ability to adapt swiftly to their preferences.

“We are committed to bringing more unique and integrated experiences to our customers, to align our offerings with the Macau Government’s vision to develop the city into a global and diversified tourist destination.”