• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 7 July 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 Resorts CFO says “smart” promotional activity helping maintain Macau market share

Ben Blaschke by Ben Blaschke
Wed 25 Sep 2024 at 06:48
The show must go on
40
SHARES
1k
VIEWS
Print Friendly, PDF & Email

The Chief Financial Officer of MGM Resorts International, Jonathan Halkyard, told investors overnight that the company remains comfortable with its promotional activities in Macau which he says continue to play a role in MGM China’s outsized market share.

Asked about the company’s sometimes controversial promotional activity in Macau during Deutsche Bank’s 32nd Leveraged Finance Conference, Halkyard said he had not seen “any real uptick” in such activity in the Macau market, “nor have we engaged in that other than what I consider to be some pretty smart moves by our local management team to introduce offers and products that our customers really like and that are not particularly expensive but keep them visiting our properties.”

This, he said, had aided MGM China – which operates peninsula property MGM Macau as well as MGM Cotai – in achieving “exceptional performance” in the two years since the pandemic.

“It’s the type of performance we’ve come to expect, despite the fact that we still only have around 12.5% of the tables in the market and under 10% of the suites in the market,” Halkyard said.

“These businesses consistently deliver market share in the mid-teens, which we expect to continue, and margins in the high-20s. And that’s without the benefit of some of the intense high-end retail that some of our competitors have that operate at a very high margin.”

The issue of MGM’s alleged promotional spend was raised by rival Melco Resorts earlier this year, with Melco President Evan Winkler stating during an earnings call, “We have general discussions with peers at other places [and] I think there’s a general feeling among the group and competitors in terms of what is rational and irrational behavior.”

In response, MGM Resorts CEO and President Bill Hornbuckle acknowledged that such commentary was “particularly aimed at us” but stated at the time that the company’s high 29% margins in the March were evidence that such spend was reasonable.

“I just query that [criticism] and I challenge it,” he said. “And frankly, if we had retail to the extent that two of our competitors do, [margins] would be in the low-to-mid 30s.”

Separately, Halkyard told attendees of Deutsche Bank’s conference overnight that MGM China was planning to spend around US$200 million in 2024 on capital investment commitments stemming from the re-tendering of Macau’s concessions in late 2022.

“Really what we are now experiencing and investing in is our capital investment commitments that we made, which are generally non-gaming, and we have over US$200 million in capex approved for this year in investment designed to meet the commitments that we made when we secured the retender license,” he said.

“That will continue into 2025, although perhaps not at that level, but that’s been the most impactful consequence of the re-tendering is on the capex side.”

RelatedPosts

Macau planning to ban all forms of advertising for gambling activities

Macau planning to ban all forms of advertising for gambling activities

Fri 4 Jul 2025 at 15:04
Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Wed 2 Jul 2025 at 18:10
Team Spirit

IAG announces Light & Wonder, Angel and Aristocrat Gaming as sponsors of Macau After Dark at Vasco – Bar & Lounge on Monday 7 July

Wed 2 Jul 2025 at 15:33
Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Wed 2 Jul 2025 at 06:19
Load More
Tags: Deutsche BankJonathan HalkyardMacauMGM ChinaMGM CotaiPromotions
Share16Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

DigiPlus launches US$106 million share buyback scheme

DigiPlus launches US$106 million share buyback scheme

by Newsdesk
Mon 7 Jul 2025 at 10:17

Philippine gaming technology firm DigiPlus Interactive Corp has announced the launch of a Php6 billion (US$106 million) share buyback scheme that it says highlights the company’s confidence in its long-term growth prospects. Notably, the announcement comes just days after company...

Star to open AU$3.6 billion Queen’s Wharf Brisbane development on 29 August

Star’s Hong Kong partners offer one month reprieve to complete Queen’s Wharf Brisbane deal

by Ben Blaschke
Mon 7 Jul 2025 at 08:55

A deal to offload its 50% stake in the AU$3.6 billion (US$2.4 billion) The Star Brisbane integrated resort at Queen’s Wharf is still on the table for Star Entertainment Group after revealing Monday that its Hong Kong partners have granted...

Inside Thai IRs

Thai government may formally withdraw casino bill from House agenda citing need for new cabinet to review

by Newsdesk
Mon 7 Jul 2025 at 05:20

The Thai government will consider formally withdrawing its controversial Entertainment Complex Bill from the House agenda this week in order to allow a thorough review by the newly appointed cabinet, said Deputy Finance Minister Julapun Amornvivat. The bill could be...

JP Morgan analysis says Bangkok IRs could generate combined US$5 billion annually

Thai authorities arrest 70 in bust of illegal Bangkok gambling den

by Newsdesk
Sun 6 Jul 2025 at 14:41

With the prospect of legal casinos in Thailand looking more remote by the day, authorities have arrested more than 70 people after busting an illegal gambling den in the Phahon Yothin area of Bangkok. According to The Bangkok Post, the...



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