written and last updated by
Sam Smith at
13 Feb 2025
Journalist, Editorial Department
MGM Resorts has released its financial report for the year 2024, highlighting a 3.16% increase in total revenue for MGM China in the fourth quarter compared to the same period in 2023. The total revenue reached HK$7.92 billion (approximately $1.01 billion). Adjusted EBITDA also saw a significant rise of 10.42%, amounting to HK$910.64 million (around $116 million).
The overall revenue from MGM China's casinos grew by about 4% year-on-year, totaling HK$855 million (approximately $109 million). This growth was driven by a strong performance in the main table games segment, which recorded a turnover of $3.58 billion (around ₽343.2 billion).
The company also reported earnings from its VIP segment, with high-limit table game turnover at MGM Cotai reaching HK$23.45 billion (approximately $3 billion). In MGM China, this figure stood at HK$5.53 billion (around $700 million).
Both properties experienced an increase in slot machine turnover, contributing to a 3.7% rise in the group's net revenue for the fourth quarter of 2024, which reached $1.02 billion (approximately ₽97.7 billion).
Bill Hornbuckle, CEO of MGM Resorts International, stated, "We are proud to report the highest annual revenue in the company's history, driven by record performance at MGM China. We are also encouraged by the strong demand we are seeing in the business at the start of 2025, which bodes well for continued growth."
For the entire year of 2024, MGM China increased its net revenue by 28% to $4 billion (approximately ₽383.2 billion), while adjusted EBITDA rose by 25% to $1.1 billion (around ₽105.4 billion).
Notably, MGM China offers the highest dividends among global casino operators.
