Asia
MGM China Reports 2023 Annual Results
MGM China Holdings Limited has announced the selected unaudited financial data of the Company and its subsidiaries (the Group) for the three and 12 months ended December 31, 2023.
The Group saw a solid recovery in Macau since the market reopened in the beginning of last year. Macau saw average daily visitor arrival for 2023, up by 395% from 2022 to 77,296, recovered to 72% of 2019 pre-COVID levels.
Visitation has boosted the growth of gross gaming revenue (GGR). Industry GGR recorded sequential growth over the quarters last year to reach MOP502 million per day in 2023, recovered to 63% of 2019.
- MGM China saw record-high performance across segments last year and continued to outperform industry recovery. Property visitation in 2023 was 106% of 2019. Daily GGR was 101% of 2019 and mass GGR (including slot) was 134% of pre-COVID levels.
- Net revenue of the Group grew by 369% from 2022 to HK$24.7 billion, or 108% of 2019.
- The Group saw adjusted EBITDA turnaround from 2022 to historical high of HK$7.2 billion, represented 117% of 2019.
- MGM China had market share of 15.2% for year 2023, up from 9.5% in 2019. MGM COTAI market share was 8.6% and MGM Macau was 6.6%.
- Adjusted EBITDA margin for the year 29.3%, 210 basis points higher than 2019, with a mass-focused business and continuous improvement in operational efficiency.
- On a quarterly basis, the Group recorded sequential growth for four consecutive quarters over daily GGR, mass GGR and Adjusted EBITDA. Fourth-quarter Adjusted EBITDA was up 16% from previously to HK$2.2 billion, with adjusted EBITDA margin of 28.5%.
- The Group maintained a healthy financial position. As of December 31, 2023, the Group had a total liquidity of approximately HK$21.5 billion, comprises cash, cash equivalents and undrawn revolver.
The Group saw business volumes continued to grow in January. Market daily GGR further grew 4% from December to MOP624 million, implying a year-on-year growth of 67%, and 78% recovery of January 2019.
Kenneth Feng, President and Executive Director of MGM China, said: “We are excited about the recovery in Macau and our outperformance across various business segments.
“We will continue to innovate our products and services to enhance customer experience. We are also committed to bringing in more unique integrated tourism experiences to attract international visitors.”
During the year, MGM China has expanded overseas offices in Kuala Lumpur, Manila, Seoul and Osaka. The Group had also held flagship entertainment and gastronomy events including MGM x RR1 Culinary Masters Macau, MGM Chef Nic Gastronomusic Fest and Oktoberfest Macau at MGM, which drew both local and international visitors.
As a supporter of cultural tourism, MGM again collaborated with world-renowned Portuguese artist Joana Vasconcelos to present a large-scale art installation Valkyrie Miss Dior at MGM COTAI. On the art front, the Group presented at MGM Theatre To Infinity and Beyond: The Art of Hsiao Chin, an unprecedented large-scale immersive exhibition as part of Art Macao, a city-wide international event organised by the Macao SAR government. The Group has also announced the collaboration with Poly Culture Group to build a cutting-edge arts and culture museum at MGM MACAU.
In addition, MGM China is determined to bring in world-class events to Macau. The Group has organised MGM Macau Tennis Masters tournament with IMG featuring top international tennis players at the Macao East Asia Games Dome. The Group has also joined hand with the Macao Cultural Affairs Bureau to organise hush! Beach Concerts x Urban Yo~ga Wellfest, a multi-disciplinary festival which marks the debut of MGM’s wellness IP Programme that integrates tourism, health and music industries along the natural coastal Hac Sá Beach in Macau.
“We strive to develop MGM as a destination for visitors and customers, along with the diversification development of Macau. We are devoted in developing Macau into a global and diversified tourist destination through our concession commitments,” Kenneth Feng said.
Asia
World Esports Summit Celebrates Its 10th Edition in Busan
The World Esports Summit returns to Busan, South Korea, for its 10th edition, taking place on 10–11 February 2025.
Hosted at the Wyndham Grand Busan, the Summit will bring together 40+ speakers from the international esports ecosystem, including representatives from federations, publishers, global brands, sports organizations, technology companies, and public institutions.
Over the past decade, the World Esports Summit has provided a platform for dialogue and cooperation among stakeholders shaping the world of esports. The 2025 edition will continue this role, offering space for discussion on current developments, industry challenges, and future directions.
The Summit will feature contributions from a wide range of organizations, including Alibaba, FIBA, FIFAe, Tencent, Moonton, NetEase, FIA, Sportradar, EFG, Good Game, Telekom, among others.
Across two days, participants will take part in keynote sessions and panel discussions addressing topics such as esports governance, international collaboration, industry development, integrity, and the continued convergence of esports and traditional sports.
Further information on the program, speakers, and registration is available on the official World Esports Summit website.
The post World Esports Summit Celebrates Its 10th Edition in Busan appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
Insurgence Gaming Company Expands Grassroots Vision with MOBA Legends 5v5 Discord Play-Ins
Following the launch of its inaugural women-focused VALORANT tournament La Imperia, the Insurgence Gaming Company has announced its second competitive initiative, MOBA Legends 5v5 Discord Play-Ins, a series of open community tournaments created to make organised competition more accessible to emerging players.
While La Imperia introduced a visibility-led invitational format, the MOBA Legends 5v5 Discord Play-Ins take a different approach. The series is built around open participation and will be hosted entirely online, with all tournament operations managed through Discord. This allows teams from across India to compete in a structured setting without the restrictions often associated with invite-only events.
The Play-Ins are designed as a starting point for players and teams who want to experience organised competition. Matches will be played in a 5v5 MOBA Draft Pick format, with scheduling, match reporting, and communication handled through dedicated Discord channels.
The announcement continues Insurgence Gaming Company’s early focus on grassroots esports. The company was created to address gaps in India’s competitive ecosystem, particularly at the amateur and semi-professional level where consistent tournament opportunities are still limited.
Speaking on the launch, Jasper Shabin, Founder of the Insurgence Gaming Company, said: “With La Imperia, we focused on visibility. With the Discord Play-Ins, the focus shifts to access. Competitive players need regular places to play, improve, and test themselves, not just one-off tournaments. MOBA Legends 5v5 is one of the most accessible competitive titles on mobile, which makes it a strong fit for an open, community-driven format.”
Beyond competition, the Discord Play-Ins are also intended to build a sense of continuity. Players will have access to channels dedicated to match coordination, tournament updates, and post-game discussion, helping teams stay connected beyond a single tournament run.
With the MOBA Legends 5v5 Discord Play-Ins, the Insurgence Gaming Company continues to shape its identity around community-first formats, pairing visibility-led initiatives like La Imperia with open competitive pathways that support long-term grassroots growth in Indian esports.
The post Insurgence Gaming Company Expands Grassroots Vision with MOBA Legends 5v5 Discord Play-Ins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
ALGS 2026 Championship
S8UL Esports secures historic top five finish at ALGS 2026 Championship; bags INR 1 crore in prize money
S8UL Esports, a global powerhouse in esports and gaming content, delivered a landmark performance by finishing among the top five teams globally at the Apex Legends Global Series (ALGS) 2026 Championship, held in Sapporo, Japan from January 15 to 18. This result represents the best ever finish by an Indian organization on the Apex Legends global stage, setting a new benchmark for Indian esports at the highest level of international competition.
The ALGS 2026 Championship, the crowning event of the Apex Legends competitive calendar, brought together 40 of the world’s most consistent and high-performing teams from the year-long global circuit. S8UL’s all-Australian roster featuring Rick Wirth (Sharky), Benjamin Spaseski (Jesko), and Tom Canty (Legacy), led by head coach Harrison Rogers (Rogers), delivered a standout campaign and emerged as the only South Asian team to secure a Top 5 finish at the premier international Apex Legends event. The team earned USD 120,000 (approximately INR 1 crore) from the tournament’s USD 2,000,000 (approximately INR 18.14 crore) total prize pool.
Commenting on the achievement, Animesh Agarwal, Co-founder and CEO, S8UL, said, “Over the years, we have built one of India’s strongest gaming creator ecosystems and a solid foundation in content. In the last 18 months, we have deliberately expanded our focus to global esports investments across multiple titles, and performances like this validate that vision. Our ambition is to compete and win at the highest level worldwide. We are investing deeply, assembling world-class international rosters, and representing S8UL on the global stage from India. A top five finish at ALGS is a major milestone, and it marks only the beginning of what we believe will be a very strong future for S8UL in esports.”
S8UL began their campaign in Group B, navigating a demanding round-robin stage where all 40 teams were divided into four groups of 10. The team’s consistent performances saw them finish among the top 20 teams, earning a spot in the Winners Bracket and keeping them firmly in title contention.
From there, S8UL qualified for the Grand Finals, where the remaining 20 teams competed under the high-pressure Match Point Format. Under this system, a team must reach 50 points and then secure a match win to claim the championship, with the remaining teams ranked by total points. Across nine final matches, S8UL accumulated 64 points to finish fifth overall, just one point behind fourth-placed GROW Gaming, underlining how closely contested the championship was.
“The margins at this level are extremely fine, and the team showed tremendous composure throughout the tournament. From the group stage through to the finals, the players displayed adaptability, trust, and resilience. Finishing in the top five globally is a major milestone, and it reinforces our confidence in this roster’s ability to contend for championships in the future,” commented Harrison Rogers, coach of S8UL’s Apex Legends team.
S8UL’s performance at the ALGS 2026 Championship builds on the organisation’s growing presence in international Apex Legends competition. In 2025, S8UL competed at the ALGS Midseason Playoffs as part of the Esports World Cup in Riyadh, where the organisation also became the first Indian team to be selected as a Club Partner for the tournament. With consecutive appearances at Apex Legends’ premier global events, S8UL continues to establish itself as a consistent contender on the world stage and a flagbearer for Indian esports internationally.
The post S8UL Esports secures historic top five finish at ALGS 2026 Championship; bags INR 1 crore in prize money appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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