Macau casino group MGM China reports best-ever June quarter as tourists return, winning odds improve

Quick Summary:

The Macau casino concessionaire partly owned by billionaire Pansy Ho reported its best-ever June quarter amid a recovery in tourism and higher winning odds.

He also confirmed that the group is interested in a new integrated casino resort opportunity in Thailand, adding that any such investment would be made through MGM China.“While any Thai investment discussion is in its nascent stage, we believe any such investment may cause investor concerns on execution and a cap on MGM China’s dividend upside,” BofA Securities said in a report.

The recovery in the group’s two casinos was well above the broader gambling market, which has only returned to around 80 per cent of pre-pandemic levels, said William Hornbuckle, CEO of MGM Resorts.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Xinyi Wu

Category: Business

Markets: Hong KongChinaMacauThailand

Topics: Casino June Rose According Quarter Macau Cent China Billion Market Tables

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 17:09:38 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 589 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21884297

View Article Analysis

About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 15 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 1 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

Publisher Details

Frequently Asked Questions