MGM Resorts International has increased its net revenues by four per cent in the opening three months of the year, with the opening of MGM Cotai offsetting decreasing room revenues and food and beverage consumption at domestic resorts.
Net revenues running to March 31, 2018, were at US$2.82bn, compared to $2.72bn a year earlier. In China, the new opening helped net revenues move up to $596m, compared to $475m in the first three months of 2017.
Overall, MGM’s operating income stood at $360m, down from $497m a year earlier.
Domestically, operating income decreased by $25m in the period while MGM China’s operating income of $55m – down by $20m on the 2017 mark – was negatively impacted by $51m of pre-opening expenses connected with MGM Cotai’s February opening in Macau.
