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 è 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 proprietà sono aumentate del 54% rispetto all'anno precedente, raggiungendo il 163% dei livelli del 2019, mentre il GGR giornaliero è cresciuto del 29% raggiungendo il 129% del 2019. Il GGR di massa, compresi i giochi da casinò, è aumentato del 33% raggiungendo il 179% dei livelli pre-COVID.
Il Gruppo ha mantenuto una forte liquidità di HK$17,2 miliardi e ha raggiunto un'occupazione alberghiera del 94%. Tra le iniziative degne di nota c'è 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 reportó resultados financieros sólidos para 2024, con métricas de rendimiento récord. Los ingresos netos de la compañía crecieron un 27% alcanzando HK$31,4 mil millones, llegando al 138% de los niveles de 2019. EBITDA ajustado alcanzó un máximo histórico de HK$9,1 mil millones, un 25% más que el año anterior y el 147% de las cifras de 2019.
La cuota de mercado de la compañía alcanzó un máximo histórico del 15,8% en 2024, en comparación con el 15,2% en 2023 y el 9,5% en 2019. La afluencia de visitantes a la propiedad aumentó un 54% interanual, alcanzando el 163% de los niveles de 2019, mientras que el GGR diario creció un 29% al 129% de 2019. El GGR de masa, incluidos los tragamonedas, aumentó un 33% al 179% de los niveles anteriores a COVID.
El Grupo mantuvo una sólida liquidez de HK$17,2 mil millones y logró una ocupación hotelera del 94%. Iniciativas notables incluyeron la apertura del Poly MGM Museum y el lanzamiento del espectáculo de residencia 'Macau 2049' en colaboración con el cineasta Zhang Yimou.
MGM China는 2024년 강력한 재무 결과를 보고했으며, 기록적인 성과 지표를 달성했습니다. 회사의 순수익은 27% 증가하여 HK$31.4억 달러에 도달했으며, 2019년 수준의 138%에 해당합니다. 조정 EBITDA는 HK$9.1억 달러로 사상 최고치를 기록하며, 전년 대비 25% 증가하고 2019년 수치의 147%에 달했습니다.
회사의 시장 점유율은 2024년에 사상 최고인 15.8%에 도달했으며, 2023년의 15.2%와 2019년의 9.5%에서 증가했습니다. 부동산 방문자는 전년 대비 54% 증가하여 2019년 수준의 163%에 도달했으며, 일일 GGR은 29% 증가하여 2019년 수준의 129%에 도달했습니다. 슬롯을 포함한 대량 GGR은 33% 증가하여 COVID 이전 수준의 179%에 도달했습니다.
그룹은 HK$17.2억 달러의 강력한 유동성을 유지했으며, 94%의 호텔 점유율을 달성했습니다. 주목할 만한 이니셔티브로는 Poly MGM Museum의 개장과 영화 감독 장이모와 협력하여 'Macau 2049' 레지던시 쇼의 출범이 포함되었습니다.
MGM China a rapporté des résultats financiers solides pour 2024, avec des indicateurs de performance record. Le chiffre d'affaires net de l'entreprise a augmenté de 27 % pour atteindre 31,4 milliards HK$, atteignant 138 % des niveaux de 2019. EBITDA ajusté a atteint un niveau historique de 9,1 milliards HK$, en hausse de 25 % par rapport à l'année précédente et à 147 % des chiffres de 2019.
La part de marché de l'entreprise a atteint un niveau record de 15,8 % en 2024, contre 15,2 % en 2023 et 9,5 % en 2019. Les visites sur la propriété ont augmenté de 54 % par rapport à l'année précédente, atteignant 163 % des niveaux de 2019, tandis que le GGR quotidien a augmenté de 29 % pour atteindre 129 % de 2019. Le GGR de masse, y compris les machines à sous, a augmenté de 33 % pour atteindre 179 % des niveaux d'avant COVID.
Le Groupe a maintenu une solide liquidité de 17,2 milliards HK$ et a atteint un taux d'occupation hôtelier de 94 %. Parmi les initiatives notables figuraient l'ouverture du Poly MGM Museum et le lancement du spectacle en résidence 'Macau 2049' en collaboration avec le réalisateur Zhang Yimou.
MGM China berichtete über starke Finanzergebnisse für 2024, mit rekordverdächtigen 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 Höchststand, 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, während das tägliche GGR um 29% auf 129% von 2019 wuchs. Das Massengeschäft GGR, einschließlich Spielautomaten, stieg um 33% auf 179% der Niveaus vor COVID.
Die Gruppe hielt eine starke Liquidität von HK$17,2 Milliarden und erreichte eine Hotelbelegung von 94%. Zu den bemerkenswerten Initiativen gehörten die Eröffnung des Poly MGM Museums und die Einführung 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 reach179% 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 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 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 Chinese filmmaker Zhang Yimou to present a groundbreaking residency show -
Kenneth Feng, President and Executive Director of MGM China said: "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: "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 www.mgmresorts.com.
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SOURCE MGM China
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