On March 20, Glonghui announced that MGM CHINA (02282.HK) reported its annual performance as of December 31, 2024, with adjusted EBITDA of HKD 9.059 billion, a year-on-year increase of 25.20%; operating profit of HKD 6.156 billion, a year-on-year increase of 35.38%; and profit attributable to shareholders for the year of HKD 4.603 billion, a year-on-year increase of 74.48%. This growth was mainly due to the continuous increase in business operations following the relaxation of COVID-19-related travel restrictions in Macao since the end of 2022, which improved the group's financial performance.
The Board of Directors proposed a final dividend of HKD 0.251 per share for the year ending December 31, 2024, totaling approximately HKD 0.9538 billion, accounting for about 20.7% of the profit attributable to shareholders for the year ending December 31, 2024. The company expects to pay the final dividend to shareholders listed on the register on June 3, 2025, on or around June 12, 2025.
In 2024, operating revenue was HKD 31.3872 billion, an increase of 27.2% compared to last year. This growth was mainly due to the continuous increase in business operations following the relaxation of COVID-19-related travel restrictions in Macao since the end of 2022. With MGM MACAU and MGM COTAI being well-prepared to capture the mid-to-high-end market and being granted an additional 198 gaming tables based on the gambling license, our overall gambling market share for the years ending December 31, 2024 and 2023 was 15.8% and 15.2%, respectively, compared to 9.5% before the COVID-19 pandemic as of December 31, 2019. The group's operating revenue for the year ending December 31, 2024 increased by 37.9% compared to the same period in 2019.
As of December 31, 2024, the group's cash and cash equivalents and undrawn unsecured credit lines available amounted to HKD 5.32 billion and HKD 11.89 billion, respectively. These balances can be used for operations and implementing our investment plans.
