Arxiu de l'etiqueta: MGM Xina
Xina - MGM confirma el compromís amb Macau i veu el 2021 com un any de creixement
Malgrat els efectes de la caiguda dels viatges a causa de la pandèmia i la promesa d'una gran inversió al Japó, MGM Xina ha confirmat que està compromesa amb Macau i gastarà més diners en les seves propietats existents allà per ajudar a impulsar el retorn al creixement d'ambdós llocs. En comentar l'informe anual 2020 de MGM Xina, MGM...
China – MGM China’s revenues down by 78 per cent over 2020
With Macau still under the ‘severe impact of the COVID-19 pandemic,’ MGM China saw revenue down by 78 per cent for the year to approximately HK$5.1bn. The Group had a negative adjusted EBITDA of approximately HK$1.4bn. Total visitation to Macau in 2020 was 5.9m, compared to 39.4m in 2019. Overall hotel occupancy in Macau was…
China – MGM China has ‘no plans of restructuring’ in Macau
MGM Resorts has signalled its ‘commitment’ to Macau following a request from its biggest shareholder to sell 20 per cent of MGM China’s shares, but has stated it has no intention of selling shares to meet demands to diversify. MGM stated: “The board of directors of the company is aware of an open letter issued…
Xina - MGM Xina veu un augment del 42% a Macau d'un trimestre a un altre
Amb el mercat dels jocs de Macau encara sota el sever impacte de la pandèmia COVID-19 al tercer trimestre de l'any, MGM Xina va continuar experimentant nivells de visites baixos, principalment impulsats per diverses restriccions de viatge i mesures de quarantena durant els tres mesos i nou mesos finalitzats el 30 de setembre. , 2020. Durant el tercer trimestre de l'any,…
China – Fitch predicts 19 per cent revenue fall for MGM in Q4
Fitch ratings agency has given MGM China and MGM International’s US$750m public offering a negative outlook, reflecting the ‘risks and uncertainty the global gaming industry is facing from the pandemic,’ adding that it believes revenues at MGM’s Macau casinos will be 19 per cent down year-on-year. MGM intends to use the net proceeds from the…
Xina: MGM "s'anima a veure l'aixecament de les mesures de quarantena" ja que els ingressos del primer semestre cauen un 77 per cent
During the first half of the year, MGM China recorded total revenue of approximately HK$2.4bn. The group saw a negative adjusted EBITDA of approximately HK$1bn. Overall occupancy rate was 19.8 per cent. The results were severely impacted by the COVID-19 pandemic with MGM saying it continues to be impacted today. China has implemented temporary suspension…
China – MGM China secures US$302m of revolving credit
MGM China has agreed to new finance deals with with its lenders giving it a revolving credit facility of US$302m with an option to increase to US$503m on certain conditions. MGM said: “On May 26, 2020, the Company entered into agreements with certain lenders pursuant to which the lenders agreed to make available to the…
Xina - MGM Xina cau un 63 per cent el primer trimestre
The COVID-19 casino closures in Macau forced a 63 per cent dip in revenues on operator MGM China Holdings with the company’s MGM Cotai and MGM Macau reporting net revenues of US$272m for the three months to March 31 2020. In the first quarter, MGM China saw an adjusted negative EBITDA of HK$0.1bn with overall…
China – MGM China draws on extra credit as revenues fall by 63 per cent
MGM China saw its first quarter revenue fall by 63 per cent year-on-year to US$272m (MOP2.1bn). The company said said its Macau casinos were incurring cash operating expenses, exclusive of rent, interest, variable gaming taxes, corporate expense and expected capital expenditures, of around US$1.5m per day. The operator stated: “We compete with a large number…
