MGM China Holdings beat analysts’ estimates with a 35 percent surge in fourth-quarter earnings as its Macau casino drew more VIP and mass-market gamblers.
Adjusted EBITDA rose to US$238 million from $176 million a year earlier, a 35 percent increase and surpassing the $230.7 million average of 10 analysts polled by Bloomberg.
Net revenue increased 27 percent to $926 million. Turnover at MGM Macau’s VIP tables rose 32 percent from a year earlier. Revenue increased 18 percent on the main floor.
The company announced it will pay a special dividend of HK$1.02 a share and a final dividend of 26 cents a share.
The Hong Kong-listed company is 51 percent owned by Las Vegas-based MGM Resorts International.
