Las Vegas-based MGM Resorts International said main floor table game sales fell 2% year-over-year in the fourth quarter, while a 3.7% increase in hold rates was partially offset by a 16% drop in sales, leading to a 7% increase in VIP table games.
The company said operating income for the last three months was just over $72 million, compared with a $1.4 billion deficit in the same period, and revenue before interest, taxes, depreciation and amortization rose 5% year-over-year to $138 million.
MGM China Holdings Limited posted a full-year net profit of $1.92 billion, just over 13% year-over-year, while casino fees fell 15.3% to $1.88 billion. It also saw major floor table game fees improve by 1.7% to $996.0 million, while annual VIP table game fees fell by 25.4% to $1.1 billion.
MGM China Holdings Limited reported 12-month operating profit decline of 2.5% year-over-year to $391 million, with pre-interest, tax, depreciation and amortization earnings adjusted to $588.7 million, which means leaving the company with a profit of $391.2 million, down 2.4% annually.
“The group continues to respond to current market conditions by focusing on profitability, actively managing game floor and room returns, and lowering its operating cost base,” a statement from MGM China Holdings Limited said. “We are selectively allocating capital expenditures to improve and refine MGM Macau and to proceed with the development of new MGM Kotai properties.”파워볼사이트
MGM China Holdings Limited explained that progress on upcoming MGM Kotai properties “continued at a good pace,” following “the vast majority of all building enclosures working for towers and podiums.”
A statement from MGM China Holdings Limited said: “A major effort in both the podium and hotel towers is to test and commission the building system in parallel with the fit-out activities involved in the installation of finishing materials and building interiors.”