os resultados surpreendentes da MGM
out24
A series of rejuvenation projects underway at MGM Macau are aimed at ensuring that MGM China’s original Macau resort dominates the peninsula gaming market, according to President and Executive Director Kenneth Feng.
Speaking during parent company MGM Resorts’ 3Q24 earnings call on Thursday, Feng outlined what he described as some “very meaningful projects” MGM China had started on during the September quarter, including a refreshment of the property’s gaming floor, a revamped events center and some new F&B outlets.
“The goal of these developments is really to make sure the products reflect the trend of the customers,” he said. “All of these projects we expect to be done by the middle of next year and once done we will continue to lead the peninsula Macau market.”
Also in the works is a “suite conversion project” at MGM Cotai through which the company is converting 160 standard rooms into 60 suites, increasing the property’s suite offering by around 25%.
According to Feng, “MGM Cotai is always trying to become a destination of this region. When we deliver more new products into the market, MGM Cotai will benefit.”
MGM China on Thursday reported record revenues and EBITDAR for any third quarter in the company’s history, continuing a golden run since Macau’s borders reopened to the world in January 2023.
The CEO and President of MGM Resorts, Bill Hornbuckle, explained during the earnings call that MGM China had also booked a 20% increase in gaming buy-ins during the recent Golden Week holiday, which ran from 1 to 7 October, when compared to the same period in 2019.
https://asgam.com/2024/10/31/mgm-eyes-macau-peninsular-domination-via-latest-ir-rejuvenation-projects/
out24
MGM Resorts CEO and President Bill Hornbuckle has reiterated his confidence in the short and long-term prospects of Macau’s gaming landscape, despite recent positive sentiment around the Chinese economy fading earlier this week.
Macau gaming stocks have fallen by around 11% across the board this week after Beijing refrained from announcing any further economic stimulus measures on top of those already unveiled last month – putting a rapid halt to recent momentum in the market.
But Hornbuckle, speaking at Global Gaming Expo (G2E) on Tuesday local time, maintained a positive outlook for Macau where the company’s integrated resorts – MGM Macau and MGM Cotai – are coming off a highly successful October Golden Week.
“I like to remind everybody that the key focus for all of us is premium mass and the actual penetration rate into Macau – Macau does more than 20 million visitors a year but it is really the same people coming into the city three or four times a year, so it’s less than 1% penetration [into mainland China].
“While that’s important and it matters, Golden Week [revenue] was up 20% over 2019, so I think we’ve all had an amazing week and I think it speaks to the general economy and the activity case in Macau. We remain pretty excited by it all.”
Hornbuckle also noted that, although gaming revenues are still considerably down on pre-pandemic levels, much of that difference relates to the absence of junket-related revenues which were less profitable than the more common premium mass and direct VIP forms being generated today.
The increase in Golden Week revenues, he added, was a “great indicator” of what Macau can expect over the next 18 months.
“MGM has enjoyed more than our fair share going into [the end of the year] – we’ve averaged in the mid-teens of market share – so I have great hope for 2025 and while obviously stimulus and the overall activity case of the economy in China is important, I think Macau is still a bit unique,” he said.
“I think we’ve continued to experience that and I think it demonstrated itself through Golden Week again.”
https://www.asgam.com/index.php/2024/10/10/mgms-hornbuckle-bullish-on-unique-macau-as-china-stimulus-uncertainty-sees-gaming-stocks-dive/
may24
A operadora de jogo em Macau MGM China anunciou ontem “resultados recordes” no primeiro trimestre de 2024, com os lucros a aumentarem 77,3 por cento em termos anuais
may24
MGM China President and Executive Director Kenneth Feng says the company’s incredible resurgence post-pandemic results from a “deep understanding” of its premium mass customers.
In comments made during the 1Q24 earnings call of parent company MGM Resorts, Feng acknowledged that MGM has a head-start when it comes to smart RFID/AI tables – which it first installed as far back as 2016 – but added the company has also worked hard to refresh its product offering to better suit an evolving player market.
“People are always asking how we are leading this market, why we are recovering in this way after COVID,” he explained.
“I just want to make a little bit of comment on that. What differentiates us in the market is really company-wide, from the senior management, we possess a deep outstanding of our customers, particularly the premium mass [customers], from their culture, their habits, behavior, background profile, even their home province and dialects.
“China is a vast country with a huge supply of nearly everything like cutting-edge technology and various hospitality products. Over the past three years, we didn’t waste our time and kept innovating and refreshing our products, our services to meet the ever-changing customer expectations.
“So, we are [continuing to do] that. We just launched two casino F&B outlets in April, which have been well received on social media and by customers.”
https://www.asgam.com/index.php/2024/05/02/not-only-smart-gaming-tables-giving-mgm-china-market-advantage-feng-cites-deep-understanding-of-premium-mass-customers/
May24
A MGM China anunciou ontem os resultados referentes ao primeiro trimestre deste ano, revelando lucros antes de juros, impostos, depreciação, amortização e custos de reestruturação ou de arrendamento (EBITDA, na sigla em inglês) recorde de 2,5 mil milhões de dólares de Hong Kong. Este valor significa um aumento de 77,3% em comparação com o mesmo período do ano passado e representa 155% dos lucros gerados no primeiro trimestre de 2019, antes da pandemia. Em comunicado de imprensa, a MGM China diz-se satisfeita pela “recuperação contínua” em Macau.
Por outro lado, no relatório enviado às redacções, a MGM China destaca o crescimento no que toca à quota de mercado, que é agora de 17%. Em 2023, a quota de mercado da MGM era de 15,2% e em 2019 era de apenas 9,5%. Dividindo a quota de mercado do primeiro trimestre pelas duas propriedades da MGM, o MGM Cotai ficou com 10,1% e o MGM Macau com 6,9%.
A MGM China assinala que as receitas brutas do grupo totalizaram 8,3 mil milhões de dólares de Hong Kong ao longo do primeiro trimestre, registando um aumento de 70,6% comparativamente ao primeiro trimestre de 2023 e alcançando 143% do registado no primeiro trimestre de 2019.
Citado no comunicado de imprensa, Kenneth Feng, presidente e director executivo da MGM China, afirmou: “O nosso excelente desempenho demonstra a nossa profunda compreensão dos clientes, com melhorias contínuas nos níveis de serviço. É também um testemunho da inovação contínua da nossa equipa na criação de experiências atraentes para os nossos clientes”. “O reinício da distribuição de dividendos demonstra a nossa confiança no futuro de Macau e da MGM China, juntamente com o nosso compromisso de trazer o retorno do investimento aos accionistas”, afirmou também o responsável da MGM China.
No cômputo geral, a indústria do jogo em Macau alcançou receitas brutas de 57,3 mil milhões de patacas no primeiro trimestre deste ano, ou seja, mais 65,5% face aos 34,6 mil milhões registados no primeiro trimestre de 2023. Em Abril, o sector do jogo registou receitas brutas de 18,5 mil milhões de patacas, mais 26% comparativamente a Abril do ano passado. Para todo este ano, o Governo colocou a fasquia das receitas de jogo nos 216 mil milhões de patacas, tendo preparado o orçamento anual com base nesse valor. Assim, o Executivo espera que, em média, sejam alcançadas receitas mensais de cerca de 18 mil milhões de patacas. No ano passado, recorde-se, a receita bruta do sector do jogo foi de cerca de 183 mil milhões de patacas.
https://pontofinal-macau.com/2024/05/03/mgm-china-com-lucros-recorde-no-primeiro-trimestre/
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