Asia
MGM China Reports 2019 Annual Results
Group Revenue Grew 19% Year-on-Year Adjusted EBITDA Up 28%
MGM China Holdings Limited (“MGM China” or the “Company”; SEHK Stock Code: 2282) announced the selected unaudited financial data of the Company and its subsidiaries (the “Group”) for the three months and 12 months ended December 31, 2019 (the “Year”).
- During the Year, MGM China saw revenue up by 19% to approximately HK$22.8 billion. Adjusted EBITDA grew by 28% year-on-year to approximately HK$6.2billion.
- Adjusted EBITDA margin improved by 197 basis points to approximately 27.2% from approximately 25.2% a year ago.
- MGM China recorded a growth of approximately 37% year-on-year for mass table win, 1% growth for slot win; and flat year-on-year performance growth for VIP table game win.
- Overall occupancy reached 93.1% (2018: 92.6%).
- Full year market share rose to 9.5%, up from 7.9% in 2018, the highest in five years.
- MGM China sees approximately 86% of profit from non-VIP businesses last year.
- MGM COTAI continues to ramp since the property opened in February 2018. It recorded growth across all business segments. Adjusted EBITDA was up 177% to HK$2.4 billion. Main floor table games win was up 77% year-on-year to approximately HK$6.9 billion. Slot win was up 41% to HK$1.0 billion. VIP table games win was up 220% to approximately HK$4.0 billion.
- Meanwhile MGM MACAU remains resilient and generated solid profit on the Peninsula, where accounted for about one-third of overall Macau gross gaming revenue in 2019. Adjusted EBITDA was down 4% to HK$3.8 billion last year with a margin of 30.9%. The property has completed a seven-month renovation on the casino floor in October. We have seen encouraging initial results on mass performance and look forwards to further optimization on gaming floor.
- Premium focus remains the key strategy for MGM as we continue to focus on growth and profitability. We have opened all the villas of Mansions last year as part of our unique high-end offerings to boost player retention and new player acquisition.
MGM hotels are now closed, followed the Macau government decision on February 5 to temporarily suspend operations of all casinos in the city to prevent the spread locally of the coronavirus infection.
Grant Bowie, Chief Executive Officer and Executive Director of MGM China said: “We are grateful for the decisive actions and leadership of the Macau government it takes to contain the coronavirus. MGM places high importance on the health and safety of our team members, guests and all Macau citizens, and fighting against the epidemic is its current topmost priority. We will continue to work with government and our MGM team as we are preparing for the recovery.”
About MGM China Holdings Limited:
MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM China is majority owned by MGM Resorts International one of the world’s leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. For more information about MGM Resorts International, visit the Company’s website at www.mgmresorts.com.
SOURCE MGM China
Onlyplay has entered into a strategic partnership with online casino and betting company Ritchie Rabbit within the Asia region.
Ritchie Rabbit is said to have “extensive expertise and deep understanding of the Asian market,” which helps Onlyplay as it seeks to expand its presence in the region.
Through this deal, Onlyplay will introduce a range of games and features designed specifically for the Asian gaming community.
Onlyplay offers a wide range of games such as instant win, slots and crash games, and will now provide games for players in Asia.
Christina Muratkina, CEO of Onlyplay, said: “It is a great pleasure for us to develop the Asian region alongside Ritchie Rabbit. We recognize the immense potential of the Asian market and are committed to delivering top-notch gaming content and experiences to players in the region. This partnership represents a significant step forward in our efforts to offer innovative and engaging games that resonate with our Asian audience.”
The post Onlyplay Enters into Strategic Partnership with Ritchie Rabbit appeared first on European Gaming Industry News.
FBM® kicks off a new chapter of its Champion journey in the Philippines with the launch of FBM E-Motion! The online gaming platform disclosed yesterday in the FBM Champion’s Night event held at Xylo at The Palace in Taguig marks a historic moment for the global gaming brand in its pursuit of redefining the gaming experience of Filipino players.
FBM E-Motion promises to change the way local players interact with the FBM games. The online casino games developed under the FBM Group are now available for players in the Philippines to enjoy anytime and anywhere. Whether it is a video bingo, a slots theme or a table game, Filipino gaming enthusiasts have the control in the palm of their hands to start joyful gaming sessions.
One platform, multiple benefits for the players
The FBM E-Motion introduction means significant improvements to the local players’ gaming experience in multiple areas. The game’s accessibility is more convenient, as customers can access the platform with any desktop or mobile device.
Besides the improved accessibility, FBM E-Motion offers more gaming options since players can have fun playing various game categories from different providers. With more variety of gaming choices comes thrilling gaming opportunities as FBM E-Motion keeps users engaged with regular promotional campaigns, jackpots and bonuses to conquer.
In terms of safety and reliability, FBM E-Motion guarantees the highest quality standards. The platform got the license from PAGCOR, and all gaming services offered follow the excellence standards practiced by the FBM brand in the land-based universe, meeting all the criteria regarding legality and compliance with gaming regulations.
FBM E-Motion can be described as a user-centric platform, due to the prioritization of users’ needs, preferences, and overall satisfaction through a 24/7 dedicated customer service available in bingo halls nationwide.
This platform also stands out as the only digital platform allowing Filipino players to enjoy FBM games online in the Philippines.
FBM E-Motion is a game changer in the Filipino online gaming landscape
The release of FBM E-Motion materializes a new entertainment era for the FBM Group in the Philippines. With this step, FBM adds a new layer of engagement with the players’ community, allowing customers to try their favorite FBM titles inside and outside bingo halls in ways that were not possible.
The user-friendly interface of FBM E-Motion facilitates smooth navigation, stimulating players to try a solution crafted with cutting-edge technologies, attending to the latest trends of innovation and entertainment in this Asian country. Players can immerse themselves in a diverse range of memorable gaming experiences with FBM® exclusive games and video bingos, slots or table games provided by different providers.
The launch of FBM® E-Motion kicks off FBM®’s journey in the world of online gaming in the Philippines. With its promise of innovation, excitement and accessibility, the platform is ready to captivate players and redefine the future of their gaming experiences.
The post FBM(R) launches FBM E-Motion: the newest online gaming platform for the Philippines appeared first on European Gaming Industry News.
Hub88 has partnered with live casino supplier LiveGames, further strengthening its product offering by adding a unique range of content to its platform.
LiveGames provides fully customisable online live dealer games and branded tables including the first vertical roulette table in the sector, along with crash games and the widely played Tombola.
The supplier delivers experiences with a player-focused design, easy to use mobile interface, and high-resolution broadcasts.
The partnership will support LiveGames’ goal to further expand in international markets, including Africa, Asia, and Latin America where Hub88 has a strong presence.
The deal showcases Hub88’s commitment to grow its ecosystem of partners, offering a diverse portfolio of products and content.
Ollie Castleman, Head of Hub88, said: “We’re thrilled to unveil this strategic partnership with LiveGames which sees us add a great provider to our platform, one that utilises modern technology to offer bespoke and personalised gaming experiences to players.
“We are looking forward to collaborating and strengthening our content library with their diverse games.”
The LiveGames Team said: “Our journey started in a small studio and as a team, we are excited about now expanding to every corner of the world together with Hub88 and their extensive operator network.
“We are committed to promoting innovation in the industry and this partnership will support us on that mission.”
The post Hub88 partners with LiveGames to enhance content offering appeared first on European Gaming Industry News.
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