MGM China net gaming revenue up in Q4 2019

Gaming operators MGM China also saw full year revenues increase 19 percent YoY to €2.6 billion.

China.- Gaming operator MGM China has revealed a 6 percent year-on-year increase in net revenue in the last quarter of 2019.

For the full year, the group saw net revenues increase 19 percent YoY to €2.6 billion.

MGM China also noted that VIP table games win decreased 20 per cent when compared to the previous year. The fall could be related to a 33% decrease in turnover at its MGM Macau property.

It was a different story at MGM Cotai; after adding 25 new to market tables, main floor table games win increased 31% on the previous year.

Adjusted Property EBITDA increased 10 percent in the last three months of 2019 to €169 million, with MGM Macau generating €100 million and MGM Cotai €69 million.

Due to the impact of Coronavirus on Macau and its gambling industry, the company is forecasting a negative result for Q1 2020.