Macau | MGM China net revenues up 33 pct y-on-y in 2018 Q4

The opening of MGM Cotai in February of last year helped MGM China record a 33 per cent year-on-year increase in net revenues in the last quarter of 2018, with the total amounting to US$687 million

Macau (MNA) – MGM China recorded a 33 per cent year-on-year increase in net revenues to around US$687 million (MOP5.5 billion) in the last quarter of 2018, mainly due to the opening of MGM Cotai on February of last year, unaudited results from MGM Resorts issued on Thursday indicated.

Adjusted Property EBITDA increased 11 per cent to US$167 million in the last three months of 2018 when compared to the same period last year, with operating income up 37.7 per cent to US$62 million.

The opening of VIP junket rooms in September of 2018 at MGM Cotai was said to have increased VIP play by 18 per cent year-on-year in the fourth quarter, with main floor table games win increasing 31 per cent.

In regard to the whole 2018, MGM China MGM China net revenues went up 32 per cent year-on-year to some US$2.4 billion  with the opening of MGM Cotai having contributed US$729 million.

The gaming operator Adjusted EBITDA also went up 7 per cent from  to US$568 million in 2018 from the prior year.

VIP turnover jumped 12 per cent year-on-year in 2018 to about US$10.9 billion, with main floor table games drop going up considerably by 45 per cent to US$2 billion.

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