MGM China seeks $2 billion; in talks for 1st loan since 2019: report
Macau 바카라 operator MGM China is in talks with over a dozen banks for a loan amounting to $2 billion (equivalent to HK$15.6 billion), according to people familiar with the matter, Bloomberg has reported.
This loan, which is a five-year Hong Kong dollar-denominated facility, will be the company’s first syndicated loan since the Covid-19 pandemic, according to the media outlet’s data. The company is reportedly seeking the loan to refinance existing debt, as well as to support the company’s expansion plans. The discussions are ongoing and details are subject to change.
MGM China has been on a remarkable growth trajectory in the past few years and was among the fastest-growing gaming operators in Macau. The operator posted strong financial results for 2024, driven by strong 바카라 performance and Macau’s ongoing recovery from pandemic-era restrictions.
In its freshly published earnings report, the firm reported a full-year segment adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to $1.1 billion, reflecting a 25 percent increase from the previous year. Annual revenues surged to $4.0 billion, up 28 percent compared to 2023, demonstrating a sustained growth in the region’s gaming sector.
For the fourth quarter, MGM China recorded $1.0 billion in revenues, marking a 4 percent year-on-year increase. The company’s 바카라 revenues reached $885 million, a 4 percent improvement from the previous year, bolstered by strong gaming demand.
Company’s performance and expansion plans
According to press releases dated 13 February, MGM China’s market share of gaming revenue surged to an all-time high of 15.8 percent last year, up from 15.2 percent in 2023. This compares to the pre-pandemic share of approximately 10 percent. The company is also reportedly considering an expansion of its 바카라 resorts to attract a broader customer base. The move aims to diversify its clientele and capitalise on the region’s post-pandemic recovery.
MGM China benefitted greatly from the adoption of smart table technology over the past year, which helped enhance the gaming experience and boost efficiency. Following MGM China’s success story with smart tables, other operators like the Galaxy Entertainment Group and Sands China have followed suit. Both operators have recently completed the full deployment of smart gaming tables across their mass baccarat inventory.
Last March, MGM China canceled a $750 million loan that parent MGM Resorts International had provided during the pandemic in 2022. In June, the 바카라 operator sold $500 million notes to repay part of a revolving credit facility.
