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
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BETBY, the innovative sportsbook provider, has entered into a new partnership with Broadway Platform, a leading operator that manages over 30 online platforms while also delivering bespoke B2B services and B2C brands worldwide. As part of the deal, Broadway Platform will integrate BETBY’s award-winning sportsbook solution across its portfolio.
Through this collaboration, Broadway Platform will gain access to BETBY’s comprehensive sportsbook, featuring 500,000+ events per month, 8,000+ betting markets, and coverage of 125+ sports and 50+ esports disciplines.
The agreement also includes Betby Games, BETBY’s proprietary esports feed, which delivers 400,000+ live matches per month across 25 sports simulations with 100% video coverage, as well as AI Labs, a full suite of AI-driven sportsbook tools. With dedicated modules for odds creation, risk management, UX optimisation, and operations, AI Labs empowers operators with real-time insights, personalisation, and operational efficiency.
The Broadway Platform project is supported by SPRIBE, a leading iGaming company recognised for its innovative products and next-generation, mobile-first gaming experiences that resonate strongly with modern players. SPRIBE has made a significant impact on the online gaming industry, and its involvement underlines the ambition and innovative spirit of the collaboration.
Broadway Platform’s move to partner with BETBY underscores the supplier’s commitment to innovation and scalability, while strengthening its focus on the Asian-facing market, where it has been actively localising its solutions to meet regional demands.
Stefanos Karakidis, Business Development Director at BETBY, commented: “We are delighted to partner with Broadway Platform, a company with an outstanding reputation in both B2C and B2B operations. By integrating our sportsbook, Betby Games, and AI Labs, Broadway is set to enhance its offering and deliver a cutting-edge experience to its customers. This partnership highlights our shared vision of growth, innovation, and market leadership.”
Giorgi Tsutskiridze, Chief Commercial Officer, added: “Working with BETBY marks an important step for us as we extend our global footprint. Their technology, depth of content, and AI-driven tools provide us with the flexibility and scale needed to deliver a world-class betting experience. We are confident this collaboration will unlock significant opportunities for growth.”
The post BETBY EXPANDS ASIAN MARKET PRESENCE THROUGH PARTNERSHIP WITH BROADWAY PLATFORM appeared first on European Gaming Industry News.
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DigiPlus Interactive Corp., the Philippines’ premier digital entertainment provider behind BingoPlus, ArenaPlus and GameZone, announced a landmark partnership with Philippine First Insurance Co. Inc. (PhilFirst), the country’s first domestic insurance company. Together, they have introduced the Philippines’ first-ever surety bond programme for online gaming players – setting a new benchmark in player protection. The programme takes effect immediately.
For players, this means more peace of mind every time they log in, as long as their eKYC (electronic Know-Your-Customer) information is up to date and they continue to play within the platform’s guidelines. Whether it’s a casual gamer or a loyal fan celebrating a big win, they can enjoy BingoPlus, ArenaPlus and GameZone knowing their wallets and balances are even better protected.
Through this initiative, eligible players benefit from an added financial safeguard. The surety bond protects player balances of up to ₱1 million per player, without requiring customers to purchase a separate policy.
“DigiPlus is proud to be the first in the industry to roll out this level of consumer protection. We are committed to putting our players first. With this surety bond, they can play confidently on BingoPlus, ArenaPlus and GameZone, knowing that their funds are safeguarded,” said DigiPlus Chairman Eusebio H. Tanco.
How does the DigiPlus surety bond work?
Eligibility: Players must be eKYC-verified, have made at least one successful deposit, and be in good standing within the platform’s guidelines.
Coverage: The surety bond safeguards player wallets and balances up to ₱1 million per player.
Activation: Protection is in place immediately and applies automatically for all eligible players across BingoPlus, ArenaPlus and GameZone.
This latest measure strengthens DigiPlus’ commitment to reliable customer service and protection, adding the surety bond to its 24/7 customer support and 130+ physical BingoPlus stores nationwide, which already serve as convenient and trusted outlets for players.
With the addition of the surety bond, DigiPlus continues to raise industry standards – delivering not only engaging and innovative gaming offerings but also a stronger guarantee of trust, security and peace of mind for its customers.
The post DigiPlus Announces Partnership with PhilFirst appeared first on European Gaming Industry News.
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Gamban is now available in Japanese, making it easier for Japanese speakers to access the blocking software and take steps towards a life free from gambling harm.
“With the help of designers based in Tokyo, we’ve created a dedicated website built to feel familiar for people in Japan. By tailoring the experience this way, we have made it easier for more users to navigate the website, understand Gamban and take their first step towards recovery,” the Company said.
“While Gamban was created to block gambling sites, we also want to provide as many people as possible with the right information, in the right language, at the right time.
“This update is part of our continuous aspiration to make Gamban accessible to as many people as possible, wherever they are and whatever language they speak. By offering Gamban in Japanese, we aim to remove barriers for those who may otherwise struggle to find the right tools to help them quit online gambling.”
Matt Zarb-Cousin, co-founder of Gamban, said: “We are committed to not only translating but also localising Gamban so it looks and feels familiar to people, wherever they might be. Our mission is not only to make blocking software as good as it can be, but also as accessible as possible.”
The Company added: “We’ve been fortunate to receive input and support from Japanese organisations such as The Society Concerned About Gambling Addiction, helping us ensure the translation is accurate, accessible, and culturally appropriate for users in Japan.”
The post Gamban Now Available in Japanese appeared first on European Gaming Industry News.
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