MGM China revenue up 33 in 4Q18 on MGM Cotai contribution

first_img RelatedPosts Osaka Governor planning to start operator recruitment process this year South Korea’s foreigner-only casinos see revenues grow in August Load More Pansy Ho becomes first Macau casino boss to speak out for Hong Kong government on protests MGM China, the Macau arm of US-based casino operator MGM Resorts, has reported net revenue of US$687 million (HK$5.4 billion) for the three months to 31 December 2018, a year-on-year increase of 33%.The results were driven by the opening of MGM Cotai last February, with the property contributing US$287 million in net revenue for the quarter. Both VIP and mass recorded increases, with main floor table games win up 31% year-on-year and VIP table games win increasing 18% due to the opening of VIP junket rooms at MGM Cotai in September 2018. Main floor table games drop increased 45% for the period, from US$1.40 billion in 4Q17 to US$2.03 billion, while VIP rolling chip was up 12% to US$10.98 billion.Operating income was US$62 million compared to US$45 million in the prior year quarter, with Adjusted Property EBITDA up 11% to US$167 million. The quarter included US$12 million of license fee expense compared to US$10 million in 4Q17.For the full year, MGM China saw its net revenue grow 32% in 2018 to US$2.4 billion, with MGM Cotai contributing US$729 million of net revenues. MGM China operating income increased from US$204 million to US$216 million and Adjusted EBITDA from US$536 million to US$568 million, an increase of 6%.last_img