Asia

MGM China Reports 2023 Annual Results

Published

2 years 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.

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

PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026

Published

18 hours ago

June 5, 2026

Wladimir P.

philweb-showcases-technology-driven-growth-vision-at-sigma-asia-2026

PhilWeb Corporation has reinforced its position as a technology-driven company at SiGMA Asia 2026, highlighting its continuing transformation through digital innovation, scalable platform solutions and strategic technology investments aligned with the rapidly evolving digital economy in Asia.

As one of the Philippines’ established technology and platform providers, PhilWeb participated in SiGMA Asia 2026 to showcase its long-term vision centered on digital infrastructure, operational scalability, customer engagement technologies and future-ready platform development. The company’s presence at the international event reflects its broader strategy of strengthening its role within the growing technology, digital entertainment and fintech ecosystem in the region.

With more than 25 years of operational experience, PhilWeb continues to evolve alongside changing market demands and technological advancements. Over the years, the company has steadily expanded its capabilities through investments in platform modernization, integrated digital systems, payment technologies and data-driven operational tools designed to support scalable and efficient business operations.

As industries across Asia continue to undergo digital transformation, PhilWeb sees increasing opportunities in technology-enabled ecosystems where connectivity, automation, customer experience and operational efficiency play increasingly important roles in long-term business growth.

At SiGMA Asia 2026, the company highlighted initiatives focused on strengthening its digital ecosystem through improved platform capabilities, enhanced payment integration infrastructure and technology solutions designed to support seamless experiences across both physical and digital customer environments.

PhilWeb also emphasised the growing importance of integrated platforms and scalable digital operations as consumer behaviour continues to shift toward more connected and technology-driven experiences. The company continues to adapt to these evolving trends by exploring innovations that improve accessibility, operational flexibility and customer engagement.

Participation at SiGMA Asia 2026 also provided PhilWeb with opportunities to engage with international technology firms, fintech companies, digital infrastructure providers, payment solutions companies and regional business partners as it continues to strengthen its long-term growth strategy.

Beyond technology expansion, PhilWeb continues to prioritise governance, compliance-driven systems, operational transparency and sustainable business.

The post PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Asia

NODWIN and Nodding Heads launch India Games Showcase with Summer Game Fest

Published

2 days ago

June 4, 2026

Wladimir P.

nodwin-and-nodding-heads-launch-india-games-showcase-with-summer-game-fest

NODWIN Gaming and Nodding Heads Games are launching the inaugural India Games Showcase (IGS), a digital event set to premiere on June 8 as an official partner showcase of Summer Game Fest. The broadcast will feature 40 curated Indian indie games across trailers, reveals, gameplay segments and announcements.

The India Games Showcase will be accompanied by a dedicated Steam event aimed at helping players discover, follow and wishlist participating titles. The event is scheduled for 10 AM PT / 10:30 PM IST and will stream on YouTube and Twitch.

NODWIN Gaming Co-founder and Managing Director Akshat Rathee said: “There is a raw, untapped creative energy in the Indian indie ecosystem right now that is completely unique. We are seeing developers blend world-class mechanics with incredibly rich, localized storytelling that the global gaming community hasn’t experienced before. We want to make sure that a brilliant game built in India doesn’t just stay a local secret, but gets the global eyeballs, distribution, and recognition it rightfully deserves.”

Nodding Heads Games Co-founder and Game Director Avichal Singh added: “The debut of India Games Showcase proves that Indian indies are making strides as they arrive and make a presence internationally. The rise of quality and genre variety titles in recent years is very promising. Our partnership with the world’s biggest showcase, Summer Game Fest, is another mark of approval for the country. We’re excited for the times ahead.”

Ahead of the broadcast, the organisers named the first set of participating games, including Raahi (Kalp), Dodo Duckie (BornMonkie), Loop : Beginning Of Never Ending Journey (Pravin Nikam), Rakshasa (Odd Compass Studio), and Silkgrove (Gallic Entertainment). The showcase is spearheaded by Nodding Heads Games, the studio behind Raji: An Ancient Epic.

The post NODWIN and Nodding Heads launch India Games Showcase with Summer Game Fest appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Asia

EGT wins SiGMA Asia Awards 2026 for Best Land-Based Game Feature

Published

2 days ago

June 4, 2026

Wladimir P.

egt-wins-sigma-asia-awards-2026-for-best-land-based-game-feature

EGT has won the Best Land-Based Game Feature category at the SiGMA Asia Awards 2026 for the second consecutive year. The award was presented at a ceremony on 01 June, with EGT recognized for its multi-level progressive jackpot Sheng Sheng Bu Xi.

According to the company, Sheng Sheng Bu Xi is part of its Asian-themed products portfolio and is available in two titles: Bonus Boom and Bonus Craze. EGT said the feature runs across four jackpot levels with bonus mechanics including free spins and multipliers.

EGT said the feature is powered by its Exciter IV platform and is compatible with its Supreme, General and Phoenix Series slot cabinets. The company added that Sheng Sheng Bu Xi is deployed in “numerous gaming establishments globally.”

Mariana Manchina, Director of EGT Philippines Corp., said: “It is an honor to us to be acknowledged by the SiGMA Asia Awards again. Following the success of Zhao Cai Shuang Yu last year, the prize for Sheng Sheng Bu Xi is eloquent proof that our Asian-themed products are widely accepted by players, operators, and the professional gaming community as a whole. I would like to thank our customers, partners and friends for their continuous support and recognition, as well as our team, without whose creativity, talent and passion for innovation we would not have been able to have these remarkable achievements.”

The post EGT wins SiGMA Asia Awards 2026 for Best Land-Based Game Feature appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.