Asia

MGM China Reports 2023 Annual Results

Published

1 year ago

February 15, 2024

Reading Time: 3 minutes

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.

European Gaming Congress 2024 (Warsaw, Poland)

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

IGT Wins “Best Casino Supply” Category at 2025 G2E Asia Awards

Published

3 days ago

May 16, 2025

Niji Narayan

igt-wins-“best-casino-supply”-category-at-2025-g2e-asia-awards

Reading Time: < 1 minute

International Game Technology PLC announced that it won the “Best Casino Supply” category in the 2025 G2E Asia Awards. In their 16th year, the G2E Asia Awards are evaluated by a panel of industry experts and recognize excellence and innovation in Asia’s gaming and entertainment industry.

“Winning the ‘Best Casino Supply’ category in the 2025 G2E Asia Awards was an extraordinary start to IGT’s showing at G2E Asia and a direct reflection of our ongoing commitment to delivering great games and systems to our customers across the Asia-Pacific region. IGT’s high-performing games such as Rising Rockets Link are helping operators diversify their gaming floors and offer popular game mechanics with a compelling presentation. I thank the many IGT employees around the world who contributed to this win and are helping fuel the Company’s momentum in Asia,” said Dallas Orchard, IGT Senior Vice President & Chief Operating Officer, Gaming APAC.

IGT’s Rising Rocket Link multi-level progressive (MLP) underpinned the Company’s win in the “Best Casino Supply” category. Rising Rockets Link has captivated players across Asia, quickly becoming IGT’s highest-performing game in the region. The game leverages a combination of proven mechanics and strong math and is presented on the globally deployed CrystalCurve49 and the PeakCurve49 cabinets.

The post IGT Wins “Best Casino Supply” Category at 2025 G2E Asia Awards appeared first on European Gaming Industry News.

Asia

Esports Returns to Singapore with BLAST’s Dota 2 Arena Event After Sellout Counter-Strike World Final 2024

Published

5 days ago

May 14, 2025

George Miller

esports-returns-to-singapore-with-blast’s-dota-2-arena-event-after-sellout-counter-strike-world-final-2024

Reading Time: 2 minutes

BLAST Dota Slam Singapore to take place this November at Singapore Indoor Stadium in partnership with Singapore Tourism Board and AEG Presents Asia
The world’s best Dota teams will meet in Singapore from 4th – 9th November 2025 to compete for a prize pool of $1,000,000 at the first ever BLAST Slam arena event

Esports entertainment company BLAST has announced the return of its world-class events to Singapore with the BLAST Dota Slam Singapore, set to take place in November 2025 at the Singapore Indoor Stadium, supported by the Singapore Tourism Board (STB).

This announcement follows the sellout success of the BLAST Premier World Final 2024, which marked BLAST’s Southeast Asia debut and saw more than ten-thousand fans pack out the Resorts World Convention Centre to witness the world’s top Counter-Strike teams compete for the $1 million prize pool.

Building on that momentum, Singapore will now host the BLAST Dota Slam arena event, teaming up with AEG Presents Asia again to bring together the world’s best Dota teams to battle it out for $1,000,000 in front of a live audience and millions of fans tuning in globally across 50+ territories and in 12 languages.

The BLAST Dota Slam Singapore is the latest milestone in BLAST’s global expansion into Dota 2, and reinforces Singapore’s growing reputation as a premier destination for sports and live entertainment. It marks the second consecutive year the city-state has hosted a BLAST arena tournament, following the successful Counter-Strike event in 2024.

James Woollard, Director of Market Development at BLAST, said: “Singapore delivered one of the most passionate esports crowds we’ve ever seen during last year’s BLAST Premier World Final. We’re thrilled to be returning with our next major arena show – this time for Dota 2 – and to once again partner with the Singapore Tourism Board and AEG Presents Asia to help to further grow Southeast Asia’s esports ecosystem. The response to our events in Singapore has been incredible, and this November’s Dota Slam promises to be another landmark moment for fans and for the region. Singapore has an impressive history and pedigree for the biggest international sporting events, supported by STB, and BLAST is proud to be building on this with the biggest esports events.”

Ms Lilian Chee, Director, Sports, Singapore Tourism Board, said: “We are delighted to welcome BLAST back to Singapore, this time with the Dota Slam. Building on the success of the BLAST Premier World Final, this event further reinforces Singapore’s reputation as a world-class destination for sports and live entertainment. We look forward to welcoming the passionate fans, players and partners once again to our vibrant city.”

BLAST’s return to Singapore is set to shine a global spotlight on the city while delivering significant economic benefits and meaningful destination marketing. With an estimated economic impact in the tens of millions, the tournament further demonstrates how esports events are evolving into major cultural and economic drivers for host cities – on par with large-scale traditional international sporting events.

With Singapore, Rio, London, Austin, and Lyon among the major destinations on BLAST’s global calendar this year, it is evident that governments, cities and tourism bodies are recognising the power of esports to attract young and engaged visitors, create jobs, and drive international visibility.

The post Esports Returns to Singapore with BLAST’s Dota 2 Arena Event After Sellout Counter-Strike World Final 2024 appeared first on European Gaming Industry News.

Asia

DSTGAMING Shortlisted in Two Categories at SIGMA Asia Awards 2025

Published

5 days ago

May 14, 2025

Niji Narayan

dstgaming-shortlisted-in-two-categories-at-sigma-asia-awards-2025

Reading Time: < 1 minute

DSTGAMING has announced that it has been shortlisted in two prestigious categories at the SIGMA Asia Awards 2025: Best Platform and Best UI/UX. These nominations mark a significant achievement, recognising DSTGAMING’s continued dedication to delivering high-performance, user-centric solutions in the iGaming sector.

The SIGMA Asia Awards celebrate the most impactful contributors across the iGaming industry in the Asia-Pacific region. To be shortlisted in both the Best Platform and Best UI/UX categories is a strong testament to DSTGAMING’s dual focus on technological robustness and seamless user experiences.

DSTGAMING’s all-in-one iGaming platform has been widely recognised for its scalability, reliability and flexibility. With modular architecture and full customisation capabilities, the platform empowers operators to tailor offerings precisely to their market needs. Its seamless integrations, powerful backend and real-time analytics tools offer an unmatched operational advantage to partners worldwide.

In the Best UI/UX category, DSTGAMING has gained recognition for prioritising intuitive navigation, visually engaging interfaces and mobile-first designs. The platform is built to deliver a smooth, immersive player journey across all devices — critical for enhancing engagement and retention in today’s competitive market.

These dual nominations reflect DSTGAMING’s core values: innovation, user satisfaction and technical excellence. The company’s design and development teams have worked closely to align user interface aesthetics with operational functionality — ensuring both players and operators receive a seamless and responsive experience.

The post DSTGAMING Shortlisted in Two Categories at SIGMA Asia Awards 2025 appeared first on European Gaming Industry News.