MGM China Reports 2022 First Half Results

August 4, 2022 China Earnings & Filings

MGM China Holdings Limited (“MGM China” or the “Company”; SEHK Stock Code: 2282) today announced selected unaudited financial data of the Company and its subsidiaries (the “Group”) for the second quarter and the first half of 2022.

Macau and Greater China are under the adverse impact of the COVID-19 pandemic in 2022. We saw customer demand pick up during the Chinese New Year. However, the COVID-19 resurgence first in mainland China started at end-March followed by local outbreak in Macau at end-June, led to safeguard measures as well as enhanced travel and border controls that severely constrained Macau visitation.

Macau total visitor arrivals and the total visitation from mainland China both decreased by 12% for the first six months in 2022 from a year ago.

For the first half of 2022, Macau gross gaming revenue (GGR) was down by 46% from the same period last year. Headline GGR in the second quarter hit the lowest level since the border opened, down 67% year-on-year and 52% quarter-to-quarter MOP8.5 billion or MOP93 million per day, representing 12% of 19Q4 pre-COVID level.