MGM China recorded a 3% increase in net revenues to HK$2.45 billion (US$315 million) in the last quarter of 2021, despite an 88% decrease in Adjusted EBITDA due to various expenses. The impact of COVID-19 restrictions in Macau continued to affect the company’s performance, with net revenues still 57% lower compared to the same period in 2019.
The two integrated resorts operated by MGM China, MGM Macau and MGM Cotai, reported a combined casino revenue of US$273 million, mainly driven by the mass market segment. While MGM Macau saw a 3.6% increase in net revenues, MGM Cotai experienced a 4.0% rise, showing a mixed performance across different properties. On the other hand, MGM Resorts’ US operations showed strong results, including record earnings in Las Vegas Strip and a significant increase in revenues.
