Revenues down for MGM China in 2022

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.