MGM China reported third-quarter revenue of approximately HK$8.9 billion, up 5% from a year earlier, while adjusted EBITDA reached about HK$2.4 billion. Both figures were records for a third quarter, according to the company's official results release.
The operator said its Macau market share rose to a record 17.1%. MGM Cotai accounted for 10.5 percentage points and MGM Macau for 6.6 percentage points. Daily visitation across the two properties increased 10% year on year, while average occupancy rose to 94.1% from 93.5%.
MGM Cotai generated approximately HK$5.4 billion in revenue and HK$1.52 billion in adjusted EBITDA. MGM Macau contributed about HK$3.5 billion in revenue and HK$865 million in adjusted EBITDA. The company also reported total liquidity of roughly HK$25.6 billion at the end of September, comprising cash and undrawn revolving credit.
Chief executive Kenneth Feng attributed the momentum to higher-end demand and the response to refurbished products and premium areas. The G3 Newswire account independently reflects the same quarterly figures. MGM China added that October Golden Week visitation rose 10% year on year, although that holiday period falls outside the reported third quarter.
