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MGM China Reports 2023 Annual Results

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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.

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  • 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.

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“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.

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Faster Guest Entry at Korea’s INSPIRE Entertainment Resort’s Casino, Powered by Regula’s Technology

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International guests arriving at South Korea’s largest foreigner-only casino, INSPIRE Entertainment Resort, now enjoy a significantly faster and more seamless check-in experience. Customer onboarding times have noticeably improved following the integration of Regula’s advanced identity verification technology. Regula Document Reader SDK, the most comprehensive ID verification solution in the world, integrates with the resort’s anti-money laundering (AML) procedures, boosting operational efficiency and compliance.

Seeking to enhance operational efficiency and meet evolving AML requirements, INSPIRE Entertainment Resort sought a faster and more accurate solution. The resort, which features a high-volume casino catering exclusively to foreign guests, needed a system capable of recognizing passports from around the globe with minimal friction.

Following vendor evaluations, INSPIRE selected Regula Document Reader SDK for its superior document reading speed, intuitive interface, and unmatched global ID coverage. Regula’s solution is powered by the company’s proprietary ID template database—the world’s largest—covering 15,000+ document templates across 254 countries and territories.

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Deployed across six entrance stations, Regula Document Reader SDK enables real-time extraction and validation of critical ID data, such as name, date of birth, nationality, and passport number. This data is then passed directly to INSPIRE’s AML system, which in turn performs automated screening against external compliance and watchlist databases.

Since deploying Regula Document Reader SDK, INSPIRE Entertainment Resort casino has experienced:

  1. Faster document processing and guest entry.
  2. Significant reduction in manual rescans and staff workload.
  3. Consistently smooth onboarding, even during peak entry hours.

“As the team responsible for passport scanning at the casino, we’re very satisfied with the improvements Regula has brought. The speed of document processing has noticeably increased, and guest entry has become much smoother. It’s a reliable solution that has elevated the efficiency of our daily operations,” says Dr. Ilnam Lee, IT Director at INSPIRE Entertainment Resort.

“In industries like hospitality, every second counts. We’re happy to support INSPIRE Entertainment Resort in creating a faster and more secure guest onboarding experience while meeting strict AML requirements. Our focus is to make accurate identity verification seamless, even in complex international scenarios, and this project is a great example of that in action,” says Ihar Kliashchou, Chief Technology Officer at Regula.

The post Faster Guest Entry at Korea’s INSPIRE Entertainment Resort’s Casino, Powered by Regula’s Technology appeared first on European Gaming Industry News.

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Philippine Senate to Launch Inquiry into Online Gaming industry

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The Philippine Senate’s committee on games and amusement is going to launch an inquiry to discuss a series of bills and proposals put forward to address concerns over the growth of online gambling, with the outcome likely to determine whether the industry should be subject to tighter regulations or possibly a total ban.

The inquiry, scheduled to take place from Thursday 14 August, follows the initial filing by Senator Sherwin Gatchalian in early July of a bill seeking to tighten rules around online gaming and specifically around the ease of utilizing e-wallets for cash transactions on online sites. That bill prompted others to push for a total ban, with Philippine President Ferdinand R Marcos Jr since revealing he would consider such a ban pending the outcome of discussions with various industry stakeholders.

“On Thursday we will tackle the bills on online gambling in the Senate committee on games and amusements. I made a commitment to prioritize these bills because the problem is escalating. It’s already a crisis. So, we really need to take action to solve this problem,” Senator Erwin Tulfo, one of the leading proponents of a total ban, said.

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“Our problem is, we were not ready. There is no regulation, and it is why people are gambling recklessly. There is no control of up to how much to gamble. Come what may. Entire salaries are being gambled. Anything is being placed as a bet. Even children are gambling now.”

Tulfo revealed that the Senate committee will discuss four bills, three resolutions and a privilege speech addressing the social impact of the online gambling industry – also known as remote gaming or eGames. As reported by PAGCOR, the eGames sector generated GGR of US$2 billion in the first six months of 2025 alone.

Industry stakeholders, including licensed operators, have in recent weeks rallied to opposed a total ban while promising to support the implementation of some restrictions. On Friday, a group of 19 licensed online gaming operators announced the formation of the PlaySafe Alliance of the Philippines – a unified industry association they say is committed to responsible gaming, regulatory compliance, consumer protection and combatting illegal gambling.

The post Philippine Senate to Launch Inquiry into Online Gaming industry appeared first on European Gaming Industry News.

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MelBet Announces New Partnership with СPL 2024 Champion Saint Lucia Kings

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MelBet has announced a new partnership with the СPL 2024 Champion Saint Lucia Kings.

As a Principal Partner, MelBet, the iGaming company, will support the Kings on their journey to defend their title during the upcoming season.

Both the platform and the team share the same belief: perseverance and tenacity make champions. Anyone who is inspired by the desire to win, who believes in themselves and never gives up, deserves a reward, and loyal MelBet fans know this better than anyone. As part of the partnership, MelBet will become an integral part of the St. Lucia Kings team, supporting players and fans on their way to victory.

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“We’re excited to enter the season with MelBet as our Principal Partner. Their reputation for turning every moment into an unforgettable experience is a perfect match for our team. We’re confident that this partnership will bring us the luck and success we need as we aim for another great season,” said Satish Menon, CEO of Saint Lucia Kings.

“We are absolutely delighted to welcome MelBet as our principal partner for the upcoming CPL Season 13. This partnership marks an exciting new chapter for the Saint Lucia Kings, and we are confident that MelBet’s passion for sports and commitment to excellence align perfectly with our own ambitions. We look forward to a successful season both on and off the field,” said Saurabh Arora, Chief Commercial Officer of Saint Lucia Kings.

The post MelBet Announces New Partnership with СPL 2024 Champion Saint Lucia Kings appeared first on European Gaming Industry News.

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