• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 2 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

MGM China says 2022 loss reached US$666 million, no final dividend to be paid

Newsdesk by Newsdesk
Thu 30 Mar 2023 at 06:13
Number of hotels closed for casino hiatus reaches 23 as Macau goes dark

MGM Macau

24
SHARES
610
VIEWS
Print Friendly, PDF & Email

MGM China reported overnight a group-wide loss of HK$5.23 billion (US$666 million) in 2022, widened from its HK$3.85 billion (US$490 million) loss in 2021 due to the ongoing impact of the COVID-19 pandemic.

Publishing its FY22 financial results, MGM China also reported an Adjusted EBITDA loss of HK$1.27 billion (US$162 million) in 2022 – reversing a HK$187.2 million (US$24 million) EBITDA gain in 2021.

Gross casino revenue for the year just about halved to HK$5.58 billion (US$711 million), including a 40.4% decline in mass table win to HK$4.47 billion (US$569 million), a 72.5% decline in VIP table win to HK$580.8 million (US$74 million) and a 42.4% decline in slot machine win to HK$525.2 million (US$67 million).

The company has not recommended payment of a final dividend for the year ended 31 December 2022.

Despite its recent woes. MGM China has been flagged by analysts as the company with most to gain in 2023 – aided by the addition of almost 200 new gaming tables to its allocation after the issue of new concessions from 1 January 2023.

With those new tables in play, investment bank Morgan Stanley said recently that MGM China will become the first of Macau’s six concessionaires to reach pre-COVID levels of mass GGR.

It is also seen gaining up to 3% more market share from its rivals in the months ahead.

RelatedPosts

Less than one month remaining to MGS Summit 2022

Macau GGR sets new post-COVID high of MOP$21.2 billion in May

Sun 1 Jun 2025 at 12:53
RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to US$3.2 million

Sat 31 May 2025 at 05:53
Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

Fri 30 May 2025 at 06:42
Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Load More
Tags: dividendlossMacauMGM ChinaMGM Cotairevenue
Share10Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Concerned parties welcome opportunity for high-level discourse ahead of Thai Entertainment Complex Roundtable 

Concerned parties welcome opportunity for high-level discourse ahead of Thai Entertainment Complex Roundtable 

by Ben Blaschke
Sun 1 Jun 2025 at 15:46

This week’s groundbreaking Thai Entertainment Complex Roundtable (TECR) has been described by local participants as a vital opportunity for all stakeholders, including international operators and those concerned about Thai casino legislation, to work together to achieve mutually agreeable outcomes.  In...

Less than one month remaining to MGS Summit 2022

Macau GGR sets new post-COVID high of MOP$21.2 billion in May

by Ben Blaschke
Sun 1 Jun 2025 at 12:53

Macau’s casinos recorded gross gaming revenue of MOP$21.19 billion (US$2.62 billion) in May, making it the biggest month of 2025 so far but also the largest since borders reopened in January 2023. According to information from the Gaming Inspection and...

2022 Asian Gaming Power 50: Ones to watch

Controlling shareholder Ng Man Sun steps down as Chairman, CEO and Executive Director of Century Entertainment

by Newsdesk
Sun 1 Jun 2025 at 12:02

Ng Man Sun, a renowned former Macau junket figure and controlling shareholder of Hong Kong-listed gaming investor Century Entertainment International Holdings, has stepped down as the Chairman and CEO and relinquished his role as a director, the company announced Friday....

Vietnam asks PM to grant approval for US$2 billion Van Don casino development in Quang Ninh province

Vietnam asks PM to grant approval for US$2 billion Van Don casino development in Quang Ninh province

by Newsdesk
Sun 1 Jun 2025 at 11:26

Vietnam’s Ministry of Finance has reportedly submitted a proposal to the Prime Minister seeking approval to push forward with a VND51.5 trillion (US$2 billion) luxury casino-resort development in Quang Ninh province. The project is the same one previously proposed by...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English