Adjusted EBITDA up 57% Year-on-Year<\/b><\/p>\n
Market Share Reached 16.5%<\/b><\/p>\n
HONG KONG<\/span>, Aug 1, 2024<\/span> \/PRNewswire\/ — MGM China Holdings Limited (“MGM China” or the “Company”; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the “Group”) for second quarter and the first half of 2024 (the “Period”).<\/p>\n The Group is pleased to see Macau<\/span> continue to grow. Total visitor arrivals in first half of year increased 43% year-on-year to 91,868 per day. The visitation recovered to 82% of first half 2019.<\/p>\n Gross gaming revenue (GGR) in Macau<\/span> was up 41% from same period in last year to MOP 625 million per day, represented a 76% recovery of first half 2019. In addition, mass gaming revenue grew 45% compared to a year ago, represented 111% of 2019. The continuous growth of mass market has boosted industry EBITDA to have recovered to an estimated 80-85% of 2019 pre-COVID levels.<\/p>\n With a guest-centric focus, MGM is awarded in February seven Five-Star awards by Forbes Travel Guide 2024<\/i>. This demonstrates our leading position in the hospitality industry and its commitment to providing the finest service and resort amenities.<\/p>\n During the Period, MGM China has proudly delivered a series of non-gaming events and excitements to Macau<\/span>. We have hosted in January an outdoor concert with Bruno Mars<\/span>, the 15-time Grammy Awards-winner. We had also presented with world-renowned musician Tan Dun<\/span> his symphonic masterpiece Buddha Passion<\/i> at the MGM Theater at MGM COTAI. As a supporter of cultural tourism, MGM has showcased an exhibition with renowned Chinese contemporary artist Ren Zhe<\/span> in his first-ever solo Macau<\/span> show, MGM X Ren Zhe \u2013 ‘Legends of Chivalry’ Art Exhibition<\/i>, featuring art pieces of classic characters from Jin Yong’s<\/span> martial arts novels.<\/p>\n Joining the Macao Government’s initiative to expand international market reach, the Group hosted in June its first large-scale overseas promotional campaign in Bangkok, Thailand<\/span> and participated in the Experience Macao<\/span> roadshow in Bangkok<\/i> organized by the Macao Government Tourism Office, to attract more visitors from Southeast Asia<\/span>.<\/p>\n Kenneth Feng<\/span>, President and Executive Director of MGM China<\/b> said: “We are delighted to see our continuous growth and outperformance driven by our deep understanding and customers and our ability to adapt swiftly to their preferences.<\/p>\n “We are committed to bringing more unique and integrated experiences to our customers, to align our offerings with the Macau Government’s vision to develop the city into a global and diversified tourist destination,” said Kenneth Feng<\/span><\/b>. <\/p>\n About MGM China Holdings Limited<\/u><\/b><\/p>\n\n