The addition of 25 new-to-market VIP tables at MGM Cotai helped to spur revenue growth at MGM China, though the mass market is seen as the prime growth opportunity going forward.
The casino operator saw its July-September 2019 revenue gain 22%, reaching HK$5.8 billion (about US$738 million). Adjusted EBITDA grew 39% year-on-year. The company also noted that its GGR market share increased 25% from a year ago. This was mainly due to growth across all business segments at MGM Cotai.
MGM Macau’s results, however, was let down by its VIP business, which saw VIP table games win down 44% due to headwinds and uncertainties in the market.
Grant Bowie, chief executive officer and executive director of MGM China said, “We are encouraged to see profit at MGM Cotai reaching a new high. MGM Cotai continues to ramp with solid sequential growth amid market uncertainties.” (AGB)