MGM China shares climb as earnings increase 25 percent

Shares in MGM China (2282) jumped 7 percent on Thursday after the Macau casino operator reported a 25 percent year-on-year increase in its 2024 adjusted property earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs.

MGM’s adjusted EBITDAR totaled US$1.1 billion (HK$8.58 billion) last year, up from US$867 million in the previous year, according to its US-listed parent MGM Resorts International's results.

Net revenues reached US$4 billion over the past year, a 28 percent increase from US$3.2 billion in 2023.

STAFF REPORTER