MGM China Holdings Limited Benefits Of Launching MGM Kotai
MGM China Holdings Limited released its financial results for 2018, showing adjusted earnings before interest, tax, depreciation and amortization rose 4.3% to $611.69 million, along with a 33% year-over-year increase in group-wide earnings to $2.44 billion.
The Hong Kong-listed company said in an official press release on Wednesday that its 12-month mass table victory had increased 34% year-on-year and its annual slot revenue had also increased 59%.
MGM China Holdings Limited is responsible for the MGM Macau venue and opened the $3.4 billion MGM Cotai property in mid-February last year. The operator explained that this second premiere of the 1,390-room Macau venue helped increase VIP tables by 13% annually and company-wide sales in 2018 well above the year-ago tally of $1.84 billion.
MGM China Holdings Limited reported full-year revenue growth of approximately 13% quarter-on-quarter in the last three months of 2018, reaching nearly $688.13 million. It also said adjusted earnings rose about 26% in the fourth quarter before interest, tax, depreciation and amortization to nearly $178.41 million.
MGM China Holdings Limited’s Chief Executive Officer and Executive Director said MGM Cotai itself posted “impressive sequential growth in both volume and profit” in the fourth quarter, with revenue improving 67% quarter-on-quarter to $208.34 million. In addition, management more than tripled to $58.98 million, thanks to a 20.6% increase in adjusted earnings before interest, tax, depreciation and amortization on the 17.8-acre Kotai Streep property.
We are also very excited about the launch of Mansion Villa, which aims to provide a unique and exclusive experience to our high-quality customers. Our focus is to fully open up all elements of MGM Kotai and continue to maintain market share. We believe MGM Cotai will provide Macau with more product diversification and innovative forms of entertainment as it grows into a global tourist destination.” 슬롯머신