• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 24 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

MGM China achieves all-time Q3 EBITDAR record as 3Q23 revenues climb 10% on pre-COVID levels

Ben Blaschke by Ben Blaschke
Thu 9 Nov 2023 at 05:40
MGM China to generate US$250 million EBITDA on VIP ramp
29
SHARES
720
VIEWS
Print Friendly, PDF & Email

Macau concessionaire MGM China has reported net revenues of US$813 million for the months to 30 September 2023, representing an 829% improvement over the same period last year and 10% higher than pre-COVID levels.

The improvement was directly related to ongoing recovery following the removal of COVID-19 related travel and entry restrictions in January, which has seen visitation to the SAR continue to grow in the months since.

Adjusted Property EBITDAR climbed to US$226 million, reversing an Adjusted Property EBITDAR loss of US$70 million in 3Q22 and up 23% compared to the third quarter of 2019. This, MGM China said, was an all-time 3Q record with main gaming floor win surpassing 3Q19 by 42%.

Adjusted Property EBITDAR margin of 27.8% was also improved on margin of 24.9% in the third quarter of 2019.

By property, MGM Cotai continued to shine, with revenues rising by more than 1,000% year-on-year to HK$3.48 billion (US$445 million) and Adjusted EBITDA reaching HK$1.0 billion (US$128 million) versus a HK$308.4 million (US$39.5 million) loss a year earlier.

Peninsula resort MGM Macau reported revenue of HK$2.87 billion (US$367 million) and Adjusted EBITDA of HK$880.5 million (US$113 million).

The improved Macau results helped push parent MGM Resorts to a 16% year-on-year increase in consolidated revenue to US$4.0 billion, with consolidated Adjusted EBITDAR of US$1.1 billion. Net income attributable to MGM Resorts was US$161 million compared to net loss of US$577 million a year earlier.

“We started the quarter with great momentum across our businesses,” said MGM CEO and President, Bill Hornbuckle.

“While we were faced with a difficult cybersecurity issue in September, our employees rose to the occasion with incredible resilience and determination. With the incident now behind us, we are a stronger company having been through the challenge,” said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts.

“Going forward we have much to be optimistic about with Formula 1’s inaugural Las Vegas race next week and early next year the debut of the MGM Collection with Marriott Bonvoy followed by the Super Bowl. Beyond these catalysts, MGM China is performing exceptionally well, and we have a pipeline of development opportunities including New York and Japan alongside the growth and development of our international digital business and BetMGM.”

RelatedPosts

Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

Sun 24 Aug 2025 at 08:30
Market organized to drive business to area impacted by Macau satellite casino closures generates US$25,000 in sales in first four days

Market organized to drive business to area impacted by Macau satellite casino closures generates US$25,000 in sales in first four days

Sun 24 Aug 2025 at 08:26
Wynn Macau

Wynn Macau Ltd to redeem in full US$1 billion of outstanding notes due 2026 in September

Fri 22 Aug 2025 at 11:00
A New Macau

Seaport: Sands China targeting US$1.5 billion in annual dividend payments

Fri 22 Aug 2025 at 05:23
Load More
Tags: Bill HornbuckleMacauMGM ChinaMGM Resortsrevenue
Share12Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

More reasons to visit Clark

Hann postpones US$207 million IPO due to poor market conditions

by Ben Blaschke
Sun 24 Aug 2025 at 11:19

The holding company of Clark’s Hann Casino Resort has postponed an initial public offering that had been planned to take place in September, according to a report by Bloomberg. The delay is due to global uncertainties that have heavily impacted...

Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

by Pierce Chan
Sun 24 Aug 2025 at 08:30

Driven by the summer holiday travel peak season, Macau’s total visitor arrivals in July increased by 14.5% year-on-year and 19.6% month-on-month, reaching 3,458,366 and recovering to 97.9% of the level achieved in July 2019. Visitors from mainland China remained the...

Market organized to drive business to area impacted by Macau satellite casino closures generates US$25,000 in sales in first four days

Market organized to drive business to area impacted by Macau satellite casino closures generates US$25,000 in sales in first four days

by Pierce Chan
Sun 24 Aug 2025 at 08:26

The Macau government has revealed that the NAPE food and cultural creativity market, held from 15 August, generated MOP$200,000 (US$25,000) in sales in its first four days. The festival is part of a series of events planned by the government...

Wynn Macau

Wynn Macau Ltd to redeem in full US$1 billion of outstanding notes due 2026 in September

by Ben Blaschke
Fri 22 Aug 2025 at 11:00

Wynn Macau Ltd confirmed Friday that it will redeem in full senior notes due 2026 and valued at US$1 billion on 2 September 2025. The redemption includes the company’s US$750 million 5.500% senior notes due 2026 issued in June 2020...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English