MGM China (02282.HK) announced on August 8th that the company's operating revenue for the six months ended June 30, 2024 was HKD 16.218 billion, an increase of 52.3% over the same period last year. The growth was due to the continuous increase in business operations after the COVID-19 travel restrictions to Macau were eased at the end of 2022. With adequate preparations in Macau's MGM and MGM Cotai to capture the mid-to-high-end market and with the additional grant of 198 gaming tables, the company's overall market share in the gambling market increased from 9.5% in the year before the COVID-19 pandemic ended in December 2019 to 15.2% for the year ended December 31, 2023 and 16.5% for the six months ended June 30, 2024. The group's operating revenue for the six months ended June 30, 2024 increased by 43.6% compared to the same period in 2019.
The company's attributable profit increased from HKD 0.8209 billion for the six months ended June 30, 2023 to HKD 2.6855 billion for the six months ended June 30, 2024, due to the improvement in the group's financial performance. The board of directors does not recommend the payment of an interim dividend for the six months ended June 30, 2024.
