MGM China Holdings has announced the audited consolidated annual results of the company and its subsidiaries for the year ended December 31, 2022.
Casino revenue was HK$4.4bn compared to HK$8.2bn in 2021. Loss attributable to the owners of the company increased from HK$3.8bn for the year ended December 31, 2021, to HK$5.2bn for the year ended December 31, 2022.
This increase was attributable to the continuing adverse impacts of the global Covid-19 pandemic, including outbreaks of Covid-19 cases in Macau and neighbouring regions which led to travel restrictions to Macau.
The easing of travel restrictions to Macau effective from December 2022 has seen a significant increase in visitation with Macau gross gaming revenue for the month of January 2023 increasing 232.6 per cent to HK$11.2bn compared to the prior month.