MGM China’s total revenue dropped 25 percent year-on-year to HK$3.6 billion in the first quarter, narrowed from the 31 percent year-on-year decline in the previous quarter, the gaming operator said in a statement yesterday.
According to the statement, adjusted Ebitda fell 23 percent to HK$995 million. The company’s “business in the quarter was negatively affected by low hold in both mass table games and in-house VIP operations,” the statement said, adding that “luck-adjusted Ebitda for the quarter was HK$1.1 billion.”
The statement also said that MGM China’s main-floor business accounted for about 86 percent of its Ebitda in the first quarter, “a trend that has been emerging for the last eight quarters”.
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