Photographer: Billy H.C. Kwok/Bloomberg

MGM China’s earnings negative HKD382 million in Q2

Gaming operator MGM China Holdings has announced that its adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) posted a negative HKD382.4 million (US$48.7 million) figure in the second quarter of 2022.

The company’s results between April and June signal a deterioration of business operations as its first quarter EBITDA stood at HKD45.7 million positive.

In the operator’s announcement to the Hong Kong Stock Exchange, MGM China also reported a 53.5 per cent year-on-year plunge in revenue for the second quarter.  

MGM China’s controlling shareholder, US-based MGM Resorts International, has also issued its quarterly results, announcing a 44 per cent year-on-year jump in itsconsolidated net revenue, totalling US$3.26 billion.