MGM China Reports 2024 Annual Results
MGM China reported strong financial results for 2024, with record-high performance metrics. The company's net revenue grew 27% to HK$31.4 billion, reaching 138% of 2019 levels. Adjusted EBITDA hit a historic high of HK$9.1 billion, up 25% year-over-year and 147% of 2019 figures.
The company's market share reached an all-time high of 15.8% in 2024, up from 15.2% in 2023 and 9.5% in 2019. Property visitation increased 54% year-over-year, reaching 163% of 2019 levels, while daily GGR grew 29% to 129% of 2019. Mass GGR including slots rose 33% to 179% of pre-COVID levels.
The Group maintained strong liquidity of HK$17.2 billion and achieved 94% hotel occupancy. Notable initiatives included the opening of Poly MGM Museum and the launch of the residency show 'Macau 2049' in collaboration with filmmaker Zhang Yimou.
MGM China ha riportato risultati finanziari solidi per il 2024, con metriche di performance ai massimi storici. Il fatturato netto dell'azienda 猫 cresciuto del 27% raggiungendo HK$31,4 miliardi, toccando il 138% dei livelli del 2019. EBITDA rettificato ha raggiunto un massimo storico di HK$9,1 miliardi, in aumento del 25% rispetto all'anno precedente e del 147% rispetto ai dati del 2019.
La quota di mercato dell'azienda ha raggiunto un massimo storico del 15,8% nel 2024, in aumento rispetto al 15,2% del 2023 e al 9,5% del 2019. Le visite alla propriet脿 sono aumentate del 54% rispetto all'anno precedente, raggiungendo il 163% dei livelli del 2019, mentre il GGR giornaliero 猫 cresciuto del 29% raggiungendo il 129% del 2019. Il GGR di massa, compresi i giochi da casin貌, 猫 aumentato del 33% raggiungendo il 179% dei livelli pre-COVID.
Il Gruppo ha mantenuto una forte liquidit脿 di HK$17,2 miliardi e ha raggiunto un'occupazione alberghiera del 94%. Tra le iniziative degne di nota c'猫 stata l'apertura del Poly MGM Museum e il lancio dello spettacolo in residenza 'Macau 2049' in collaborazione con il regista Zhang Yimou.
MGM China report贸 resultados financieros s贸lidos para 2024, con m茅tricas de rendimiento r茅cord. Los ingresos netos de la compa帽铆a crecieron un 27% alcanzando HK$31,4 mil millones, llegando al 138% de los niveles de 2019. EBITDA ajustado alcanz贸 un m谩ximo hist贸rico de HK$9,1 mil millones, un 25% m谩s que el a帽o anterior y el 147% de las cifras de 2019.
La cuota de mercado de la compa帽铆a alcanz贸 un m谩ximo hist贸rico del 15,8% en 2024, en comparaci贸n con el 15,2% en 2023 y el 9,5% en 2019. La afluencia de visitantes a la propiedad aument贸 un 54% interanual, alcanzando el 163% de los niveles de 2019, mientras que el GGR diario creci贸 un 29% al 129% de 2019. El GGR de masa, incluidos los tragamonedas, aument贸 un 33% al 179% de los niveles anteriores a COVID.
El Grupo mantuvo una s贸lida liquidez de HK$17,2 mil millones y logr贸 una ocupaci贸n hotelera del 94%. Iniciativas notables incluyeron la apertura del Poly MGM Museum y el lanzamiento del espect谩culo de residencia 'Macau 2049' en colaboraci贸n con el cineasta Zhang Yimou.
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須岇偓鞚� 鞁滌灔 鞝愳湢鞙潃 2024雲勳棎 靷儊 斓滉碃鞚� 15.8%鞐� 霃勲嫭頄堨溂氅�, 2023雲勳潣 15.2%鞕� 2019雲勳潣 9.5%鞐愳劀 歃濌皜頄堨姷雼堧嫟. 攵�霃欖偘 氚╇鞛愲姅 鞝勲厔 雽�牍� 54% 歃濌皜頃橃棳 2019雲� 靾橃鞚� 163%鞐� 霃勲嫭頄堨溂氅�, 鞚检澕 GGR鞚� 29% 歃濌皜頃橃棳 2019雲� 靾橃鞚� 129%鞐� 霃勲嫭頄堨姷雼堧嫟. 鞀’鞚� 韽暔頃� 雽�霟� GGR鞚� 33% 歃濌皜頃橃棳 COVID 鞚挫爠 靾橃鞚� 179%鞐� 霃勲嫭頄堨姷雼堧嫟.
攴鸽９鞚� HK$17.2鞏� 雼煬鞚� 臧曤牓頃� 鞙犽彊靹膘潉 鞙犾頄堨溂氅�, 94%鞚� 順疙厰 鞝愳湢鞙潉 雼劚頄堨姷雼堧嫟. 欤茧頃� 毵岉暅 鞚措媹靺旐嫲敫岆電� Poly MGM Museum鞚� 臧滌灔瓿� 鞓來檾 臧愲弲 鞛レ澊氇檧 順戨牓頃橃棳 'Macau 2049' 霠堨雿橃嫓 靽检潣 於滊矓鞚� 韽暔霅橃棃鞀惦媹雼�.
MGM China a rapport茅 des r茅sultats financiers solides pour 2024, avec des indicateurs de performance record. Le chiffre d'affaires net de l'entreprise a augment茅 de 27 % pour atteindre 31,4 milliards HK$, atteignant 138 % des niveaux de 2019. EBITDA ajust茅 a atteint un niveau historique de 9,1 milliards HK$, en hausse de 25 % par rapport 脿 l'ann茅e pr茅c茅dente et 脿 147 % des chiffres de 2019.
La part de march茅 de l'entreprise a atteint un niveau record de 15,8 % en 2024, contre 15,2 % en 2023 et 9,5 % en 2019. Les visites sur la propri茅t茅 ont augment茅 de 54 % par rapport 脿 l'ann茅e pr茅c茅dente, atteignant 163 % des niveaux de 2019, tandis que le GGR quotidien a augment茅 de 29 % pour atteindre 129 % de 2019. Le GGR de masse, y compris les machines 脿 sous, a augment茅 de 33 % pour atteindre 179 % des niveaux d'avant COVID.
Le Groupe a maintenu une solide liquidit茅 de 17,2 milliards HK$ et a atteint un taux d'occupation h么telier de 94 %. Parmi les initiatives notables figuraient l'ouverture du Poly MGM Museum et le lancement du spectacle en r茅sidence 'Macau 2049' en collaboration avec le r茅alisateur Zhang Yimou.
MGM China berichtete 眉ber starke Finanzergebnisse f眉r 2024, mit rekordverd盲chtigen Leistungskennzahlen. Der Nettoumsatz des Unternehmens wuchs um 27% auf HK$31,4 Milliarden und erreichte 138% des Niveaus von 2019. Bereinigtes EBITDA erreichte mit HK$9,1 Milliarden einen historischen H枚chststand, was einem Anstieg von 25% im Jahresvergleich und 147% der Zahlen von 2019 entspricht.
Der Marktanteil des Unternehmens erreichte 2024 mit 15,8% einen Rekordwert, verglichen mit 15,2% im Jahr 2023 und 9,5% im Jahr 2019. Die Besucherzahlen der Immobilie stiegen um 54% im Jahresvergleich und erreichten 163% des Niveaus von 2019, w盲hrend das t盲gliche GGR um 29% auf 129% von 2019 wuchs. Das Massengesch盲ft GGR, einschlie脽lich Spielautomaten, stieg um 33% auf 179% der Niveaus vor COVID.
Die Gruppe hielt eine starke Liquidit盲t von HK$17,2 Milliarden und erreichte eine Hotelbelegung von 94%. Zu den bemerkenswerten Initiativen geh枚rten die Er枚ffnung des Poly MGM Museums und die Einf眉hrung der Residenzshow 'Macau 2049' in Zusammenarbeit mit dem Filmemacher Zhang Yimou.
- Record net revenue of HK$31.4 billion, up 27% YoY
- Historic high Adjusted EBITDA of HK$9.1 billion, up 25% YoY
- Market share increased to all-time high of 15.8%
- Mass GGR grew 33% to 179% of pre-COVID levels
- Strong liquidity position of HK$17.2 billion
- Hotel occupancy improved to 94%
- None.
Insights
The 2024 financial results demonstrate MGM China's exceptional execution in Macau's post-pandemic recovery phase. The company's 27% revenue growth to
The expansion of market share to
The company's investment in non-gaming attractions, including the Poly MGM Museum and Zhang Yimou's residency show, aligns with Macau's economic diversification mandate while creating additional revenue streams. With
MGM China's tourism initiatives represent a masterclass in diversifying beyond traditional gaming attractions. The 54% year-over-year increase in property visitation, reaching
The Poly MGM Museum's attraction of nearly 500,000 visitors highlights the growing appetite for cultural tourism in Macau. The museum's Grade-One cultural relics certification and its Maritime Silk Road exhibition represent a significant upgrade to Macau's cultural infrastructure. Similarly, the collaboration with Zhang Yimou for Macau 2049 shows MGM's commitment to creating unique, high-quality entertainment experiences that can't be replicated elsewhere.
The company's community engagement in the Barra district, particularly around the A-Ma Temple area, demonstrates a sophisticated understanding of integrated resort development that extends beyond property boundaries. This approach helps create a more comprehensive tourist experience while supporting Macau's broader economic diversification goals.
Record-High Revenue and EBITDA
Market Share Continued to Grow
The Group is pleased to see
Gross gaming revenue (GGR) also grew in 2024. Industry GGR was up
- MGM China continued to outperform industry recovery in 2024. Property visitation grew
54% year-on-year, reached163% of 2019. Daily GGR was up29% to129% of 2019. Mass GGR (including slot) was up33% to reach聽179% of pre-COVID levels. - Net revenue of the Group grew by
27% toHK in 2024, or$31.4 billion 138% of 2019. - Adjusted EBITDA also reached historical high of聽HK
$9.1 billion in 2024, up by25% from a year ago, represented147% of 2019. - MGM China saw market share at all-time high of
15.8% in 2024, up from15.2% in 2023 and compared to9.5% in 2019. MGM COTAI market share was9.3% and MGMMACAU was6.5% . - Adjusted EBITDA margin was
28.9% in 2024, 170 basis points higher than 2019, with a mass-focused business and continuous improvement in operational efficiency. - Hotel occupancy reached
94% in 2024, up from92.5% in 2023. - The Group maintained a healthy financial position. As of December 31, 2024, the Group had a total liquidity of approximately
HK .2聽billion, comprised of cash, cash equivalents and undrawn revolver.$17
With a guest-centric focus, MGM is awarded during the Period seven Five-Star awards by Forbes Travel Guide 2024. It demonstrates our leading position in the hospitality industry and its commitment to providing the finest service and resort amenities.
During 2024, MGM China has proudly delivered a series of non-gaming events and excitements to
As an advocate of cultural tourism, Poly MGM Museum opened at MGM
In the seemingly exciting December, MGM has joined hands with the renowned聽Chinese filmmaker Zhang Yimou to present a groundbreaking residency show -
Kenneth Feng, President and Executive Director of MGM China聽said:聽"We are exhilarated to have nearly 500,000 visitors to date to our Poly MGM Museum, and a ticket sale of over 42,000 for
Outside our properties, MGM China goes beyond leveraging our cultural tourism strengths and joins effort to revitalize local district in
Kenneth Feng said:聽"We are delighted to see the recovery in
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
MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at .
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SOURCE MGM China
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