MGM China said in a statement yesterday it outperformed the market in the third quarter when its market share grew to 13.8 percent, up from 11.2 percent in the previous quarter.
The US gaming operator also said in its third-quarter results report that it recorded a total revenue of HK$2.2 billion in the quarter, down by 7 percent from the second quarter. Adjusted EBITDA was HK$101 million, down by 13 percent sequentially.
The company underlined that it “maintained a healthy financial position” in the third quarter, with total liquidity of HK$13.4 billion, comprising cash, cash equivalent and undrawn revolver (i.e., its revolving line of credit).
The statement quoted MGM President Kenneth Feng Xiaofeng as saying the company “believes the pace of Macau’s recovery will continue to hinge on broader sentiment as well as the pace of vaccination rollouts throughout the region, which will ultimately lead to sustainable easing of travel restrictions.”
MGM China operates two casino-hotel resorts in Macau – MGM MACAU in Nape and MGM COTAI.
