MGM China Reports 2020 Third Quarter Results
MGM China Reports 2020 Third Quarter Results Maintains Healthy Financial Position Encouraged by Market Recovery |
[29-October-2020] |
HONG KONG, Oct. 30, 2020 /PRNewswire/ -- 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 three months and nine months ended September 30, 2020.
Hubert Wang, President & Chief Operating Officer of MGM China said: "We are encouraged to see the reopening of Macau and a recovery in the market. We expect the rate of recovery will continue to be gradual, driven by the premium mass market – which both MGM MACAU and MGM COTAI are ideally positioned to capture." Construction of additional suites at MGM COTAI is underway and expected to be launched in 2021, while there are other remodeling and refurbishment projects on both properties to enhance customers experiences. "We will continue to invest in strengthening our market position, and continue to believe in the long-term success of Macau," said Hubert Wang. About MGM China Holdings Limited MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/sub-concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau. MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com. SOURCE MGM China | ||
Company Codes: HongKong:2282, OTC-PINK:MCHVY, NYSE:MGM |
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