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MGM China Reports 2018 Annual Results

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MGM China Reports 2018 Annual ResultsReading Time: 2 minutes

 

Group Revenue Grew 33% Year-on-Year MGM COTAI Opened and Ramping Up

 

MGM China Holdings Limited announced the selected financial data of the Company and its subsidiaries for the three months (the “Quarter”) and 12 months ended December 31, 2018 (the “Year”).

  • During the Year, MGM China recorded revenue of HK$19.2 billion (2017: HK$14.5 billion), growth of approximately 33% year on year. Adjusted EBITDA reached HK$4.8 billion, compared to HK$4.6 billion a year ago.
  • MGM China recorded a growth of approximately 34% year-on-year for mass table win, 59% growth for slot win; and 13% growth for VIP table game win.
  • For the Quarter, MGM China recorded sequential revenue growth of approximately 13% to HK$5.4 billion. Adjusted EBITDA grew by approximately 26% to HK$1.4 billion from the previous quarter.
  • Main floor gross table game win for the Quarter was up 13% sequentially, compared to market growth of approximately 9%. VIP gross table games win was up 19%, compared to market growth of approximately 4%.
  • Adjusted EBITDA margin for the Quarter improved to 26.3%, up by 280 basis points sequentially.
  • MGM Cotai continued to ramp since the property opened in February 2018. All gaming segments recorded impressive sequential growth in both volume and win. Fourth-quarter revenue was up approximately 67% to HK$2.2 billion while adjusted EBITDA grew more than triple to HK$462.9 million. Margin rose to 20.6% for the quarter compared to 9.6% in the previous quarter.
  • Targeting a broader market segment, MGM Cotai is equipped with expanded non-gaming offerings. The food and beverage outlets, especially Chinese dining, have been well received. Customers are also impressed by the one-of-the-kind experiences brought by MGM Cotai Theater. The Space had hosted various kinds of events and concerts with top artists including Sam Smith where both the audience and artists are fond of its design and quality. We have filled up the Theater’s entertainment calendar for 2019 in collaboration of effort with both the MGM Resorts International entertainment team and our Macau team. We hope to deliver multisensory theatre experiences unlike any others in Macau.

Grant Bowie, Chief Executive Officer and Executive Director of MGM China said: “We are building the momentum at MGM Cotai. We are also very excited about the launch of Mansion villas which aim to provide unique and exclusive experiences for our high-quality customers. Our focus is on getting all the elements at MGM Cotai fully open and continue to take market share. We believe MGM COTAI will drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourism destination.”

 

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/subconcessions 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


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MGM China Reports 2018 Annual Results

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Nektan builds on B2B momentum with Dench partnership

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Nektan plc the fast-growing international gaming technology platform and services provider, has boosted its global reach and commercial partnership network after securing a deal with turnkey gaming platform, Dench eGaming Solutions.

As part of the agreement, Nektan will aggregate its premium casino content to Dench’s operator network via E-Lite, Nektan’s content distribution platform.

Dench partners will significantly expand their casino offering with direct access to more than 800 HTML5-developed slots and table games from the industry’s leading providers, available across all desktop and mobile devices.

This latest partnership further strengthens Nektan’s B2B division and highlights the growing appeal of its B2B E-Lite platform from global tier one operators to platform providers alike.

Dench specialises in providing a turnkey gaming platform, white label services and real-time marketing automation solutions for the iGaming industry. It focuses on customer bonusing, rewards and engagement.

Jane Ryan, Chief Operating Officer of B2B at Nektan, said: “We’re delighted to be delivering our B2B E-Lite platform to Dench eGaming Solutions. This latest commercial agreement will allow us to grow our international scale even further, while providing Dench customers with access to a growing portfolio that is brimming with premium content.

“Nektan’s B2B division is enjoying significant growth at present thanks to our proprietary technology and ease of access to world-class casino content. We look forward to announcing more commercial contracts over the coming months as demand builds for our services.”

Dobromir Mitev, Chief Executive of Dench, said: “We’re really excited to be working alongside Nektan, allowing our client base to instantly enhance their casino offering with the addition of such a diverse range of games, to suit all tastes and preferences.

“Nektan shares similar values to ourselves, with our company mission to bring the next generation of casino game experiences to operators through strong and reliable technology.”

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nektan builds on B2B momentum with Dench partnership

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Inaugural Casino Marketing Boot Camp A Success

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The inaugural Casino Marketing Boot Camp, held March 10-12, 2019 in Winter Park, Colorado, was a success, and plans are already in the works to hold a second event in 2020.

 

“Our small group size allowed us to deliver one-on-one consultation-level attention to each participant,” said Julia Carcamo, president of New Orleans-based marketing agency J Carcamo & Associates, and co-founder of Boot Camp. “We were able to share casino industry knowledge as well as insights from leaders in the fields of strategic thinking, learning, and business management of seasonal business.”

Held over two days, participants participated in interactive sessions from dynamic speakers such as Len Hernstein, CEO of ManageCamp; Josh LeDuff, EMPATHIQ chief strategy officer; and Jeff Klem, co-founder of Adventures in Leading.

“I feel like I came into this training knowing nothing about Marketing and came out with just enough information to be ‘dangerous’,” said participant Martha George-Sachava, manager-in-training, Suquamish Clearwater Casino Resort.

“We gathered a group of casino marketers from across the country and provided them with content relevant to their day-to-day business along with the opportunity to share their challenges and best practices,” said Nicole Barker, Boot Camp co-founder and loyalty program/database analytics marketing consultant with Relationship Marketing Solutions Inc. “They left ready to implement what they learned.”

Outside of the working sessions, participants and session leaders continued the discussion while exploring the local sights of their host community with a whiskey tasting and tour at Idlewild Distillery.

“I think this (conference) would be good for my managers up to the director-level,” said Jennifer Johnson, vice president – loyalty marketing, Foxwoods Casino.

Sarah Barten, chief communications manager, Grand Casino Mille Lacs furthered, “I valued making connections with this small intimate group. Our challenges are similar to the ones other casinos face. We were able to delve into our casino database and identify areas where our players are falling through the cracks. A big takeaway for me was the brand framework we built that will help us as we rebrand our casino.”

 

The 2020 Casino Marketing Boot Camp is scheduled for March 2020 in New Orleans, LA. More information is available at www.casinomarketingbootcamp.com


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Inaugural Casino Marketing Boot Camp A Success

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IAGR2019: Gaming regulators securing industry integrity, vibrancy and innovation

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The International Association of Gaming Regulators (IAGR) has announced the official speaker line-up and program for its annual conference, IAGR2019, to be held in Montego Bay, Jamaica from 30 September to 3 October 2019.

IAGR’s President Trude Felde said that the annual conference is the key event for gaming regulators and industry stakeholders on the crowded calendar of gambling conferences.

‘IAGR2019 is an unrivalled opportunity for delegates to connect with and hear from senior gaming regulators and leading researchers and experts and access the latest international insights on emerging trends and issues and help shape regulatory approaches,’ Ms Felde said.

Titled “Regulating the game”, the 2019 event will focus on how best practice in gaming regulation can foster a secure, vibrant, innovative, safe and responsible industry.

‘We’re really excited to announce the details of our four-day program for IAGR2019, which follows our hugely successful call for speakers,’ said Ms Felde.

‘We’ll be delivering a thought-provoking mix of key note speakers, expert analysis and panel discussions on everything from responsible gambling and behavioural insights to the role of AI and big data in gaming regulation.’

Other key themes to be explored at IAGR2019 include:

  • risk and crisis prevention, and response
  • responsive regulation theory and practice
  • strategic interviewing and detecting deception
  • cyber security
  • blockchain and gaming
  • behavioural insights that impact gaming regulation
  • the future of responsible gambling
  • sportsbetting integrity and match fixing.

The full-program is now available to view.

Ms Felde said, ‘We also look forward to working with our hosts in Jamaica – the Betting, Gaming and Lotteries Commission and Casino Gaming Commission – in putting on a fantastic event for the international regulatory community and industry stakeholders.’

Mr Vitus Evans, Executive Director of the Betting, Gaming and Lotteries Commission, said, ‘We’re delighted to be hosting the world’s leading regulatory minds here Jamaica this year – it’s a great opportunity to engage with our peers in other jurisdictions.’

‘The impressive speaker line-up with provide valuable insights for all international regulators, particularly those in the Caribbean that are developing or refining their regulatory approaches.’

Ms Felde added, ‘As part of IAGR’s conference launch it has released special early bird rates for members and non-members, so if you’re interested in attending book now to take advantage of this discounted offer.’

To register or to find out more about the program, fees and hotel bookings for IAGR2019 visit IAGR’s website.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: IAGR2019: Gaming regulators securing industry integrity, vibrancy and innovation

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