Asia
MGM China Reports 2019 Annual Results
Group Revenue Grew 19% Year-on-Year Adjusted EBITDA Up 28%
MGM China Holdings Limited (“MGM China” or the “Company”; SEHK Stock Code: 2282) announced the selected unaudited financial data of the Company and its subsidiaries (the “Group”) for the three months and 12 months ended December 31, 2019 (the “Year”).
- During the Year, MGM China saw revenue up by 19% to approximately HK$22.8 billion. Adjusted EBITDA grew by 28% year-on-year to approximately HK$6.2billion.
- Adjusted EBITDA margin improved by 197 basis points to approximately 27.2% from approximately 25.2% a year ago.
- MGM China recorded a growth of approximately 37% year-on-year for mass table win, 1% growth for slot win; and flat year-on-year performance growth for VIP table game win.
- Overall occupancy reached 93.1% (2018: 92.6%).
- Full year market share rose to 9.5%, up from 7.9% in 2018, the highest in five years.
- MGM China sees approximately 86% of profit from non-VIP businesses last year.
- MGM COTAI continues to ramp since the property opened in February 2018. It recorded growth across all business segments. Adjusted EBITDA was up 177% to HK$2.4 billion. Main floor table games win was up 77% year-on-year to approximately HK$6.9 billion. Slot win was up 41% to HK$1.0 billion. VIP table games win was up 220% to approximately HK$4.0 billion.
- Meanwhile MGM MACAU remains resilient and generated solid profit on the Peninsula, where accounted for about one-third of overall Macau gross gaming revenue in 2019. Adjusted EBITDA was down 4% to HK$3.8 billion last year with a margin of 30.9%. The property has completed a seven-month renovation on the casino floor in October. We have seen encouraging initial results on mass performance and look forwards to further optimization on gaming floor.
- Premium focus remains the key strategy for MGM as we continue to focus on growth and profitability. We have opened all the villas of Mansions last year as part of our unique high-end offerings to boost player retention and new player acquisition.
MGM hotels are now closed, followed the Macau government decision on February 5 to temporarily suspend operations of all casinos in the city to prevent the spread locally of the coronavirus infection.
Grant Bowie, Chief Executive Officer and Executive Director of MGM China said: “We are grateful for the decisive actions and leadership of the Macau government it takes to contain the coronavirus. MGM places high importance on the health and safety of our team members, guests and all Macau citizens, and fighting against the epidemic is its current topmost priority. We will continue to work with government and our MGM team as we are preparing for the recovery.”
About MGM China Holdings Limited:
MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM China is majority owned by MGM Resorts International one of the world’s leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. For more information about MGM Resorts International, visit the Company’s website at www.mgmresorts.com.
SOURCE MGM China
The Asian Poker Tour has announced the cancellation of APT Manila 2025, which was scheduled to take place from May 30 to June 8, 2025, at the City of Dreams Manila.
The next scheduled APT tour stop following the upcoming APT Taipei 2025—running April 25 to May 4 with a TWD 70M (~USD 2.1M) guaranteed Main Event—will be the APT Incheon 2025; boasting a KRW 2.5M buy-in Main Event with a KRW 1.5B (~USD 1M) guarantee running August 1-10 at the Paradise Hotel & Resort.
This will be followed by the APT Jeju 2025, which boasts a KRW 2.6M buy-in Main Event with a KRW 2.2B (~USD 1.5M) prize pool guarantee and runs from September 26 to October 5 at Jeju Shinhwa World.
The 2025 APT poker schedule will conclude with the thrilling end of year APT Championship (APTC), which runs from November 14-30, 2025 at the Red Point Center’s brand new “Red Space” venue located in central Taipei.
The APTC Main Event boasts a massive TWD 165 million (~USD 5 million) prize pool guarantee – the largest the tour has ever offered.
Players can win their seat to this exciting TWD 350,000 (~USD 10,700) freezeout by competing in the tour’s three signature events—the APT Main Event, the APT High Roller and the APT Super High Roller—at each of the three remaining APT tour stops preceding the APTC.
The post Asian Poker Tour Announces Cancellation of APT Manila 2025 appeared first on European Gaming Industry News.
GOD55, a premier online gaming platform and leading operator in Southeast Asia, is proud to announce its partnership with Birmingham City Football Club as the club’s Official Asian Betting Partner.
Established in 2016, GOD55 has become one of the biggest and most trusted brands in the online gaming industry, offering a wide range of betting and entertainment options, including casino games, sports betting, and live dealer experiences. Leveraging cutting-edge technology, the platform provides users with seamless mobile and desktop access, real-time data integration, and high-quality streaming for live events.
As part of this exciting partnership, GOD55 has launched an exciting announcement film, filmed on location at Birmingham City’s St. Andrew’s @ Knighthead Park and Elite Performance Innovation Centre.
A spokesperson for GOD55 commented: “We are delighted to partner with Birmingham City, a club with a rich history and a dedicated global fanbase. This collaboration reflects our commitment to connecting with football enthusiasts and delivering an enhanced entertainment experience. Together, we aim to engage fans in innovative ways, celebrating the beautiful game while offering a world-class gaming platform for our users in Asia.”
Birmingham City also expressed their excitement about the partnership: “We’re thrilled to welcome GOD55 to the Birmingham City family as our Official Asian Betting Partner. This partnership highlights the club’s growing international appeal and provides an opportunity to further engage with our supporters in Asia. We look forward to working closely with GOD55 to achieve great things together.”
The post Birmingham City Forms Alliance with GOD55 as Their Official Asian Betting Partner appeared first on European Gaming Industry News.
FOMO7, a trusted name in online entertainment, has unveiled a massive update to its gaming platform with 46 exciting new Indian lottery games, giving players even more chances to win guaranteed prizes in addition to their regular winnings.
This new launch brings a diverse mix of India’s most beloved lottery formats, including:
• Kerala Lottery
• Speed Matka Lottery
• Daily Matka Lottery
• Dear Lottery
• Daily Pick3, Pick4 & Pick5 Lotteries
• Wingo Lottery
With minimum bets starting at just ₹6, draws are held as frequently as every minute, and scheduled daily, weekly, and at popular time slots like 8 AM, 9 AM, 5 PM, 8 PM and 10 PM, offering a dynamic and rewarding experience for both casual and seasoned players. Top winnings go up to ₹10 Crores, making this one of the most lucrative opportunities in the online lottery space today.
In addition to its rich selection of lottery games, FOMO7 offers a comprehensive gaming experience with casino games, sports betting, instant sports and classic live sports, catering to all kinds of online gaming enthusiasts.
The post FOMO7 Expands Platform with 46 New Indian Lottery Games appeared first on European Gaming Industry News.
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