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MGM China sees first-quarter revenue soar as it sets its sights on protecting its highest ever market share

  • The Macau casino giant pulled in net revenue 143 per cent higher the first quarter of 2019, before the Covid-19 pandemic
  • Its market share rose to 17 per cent, up from 15.2 per cent in 2023 and 9.5 per cent in 2019

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Kenneth Feng, executive director and president of MGM China, attributed the positive results to the company’s ‘deep understanding of its customers, particularly in the premium mass market segment’. Photo: Yik Yeung-man
Peggy Sito
Macau casino operator MGM China announced better-than-expected first-quarter earnings and has set its sights on maintaining its highest ever share of the mass market gaming segment.
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The company’s senior executives said they will continue to use data analysis to navigate and capitalise on market trends, which they believe gives them an advantage over their five main rivals, namely Galaxy Entertainment, Melco Resorts, Sands China, SJM, and Wynn Macau.

MGM China reported a net revenue of HK$8.3 billion (US$1.06 billion) for the first three months of 2024, marking a 70.6 per cent increase compared to the same period last year. The figure represents a 143 per cent increase over the first quarter of 2019, before the Covid-19 pandemic.

It beat the consensus estimate of analysts by 11 per cent, according to an HSBC report.

The company achieved record adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) and market share during the period.

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Its market share in Macau rose to 17 per cent in the first quarter of 2024, up from 15.2 per cent in 2023 and 9.5 per cent in 2019.

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