MGM China Holdings Releases its Full Year Financial Data for 2016
MGM China released its 2016 figures with the final report showing an increase with all sectors. The company released all info for its company and all subsidiaries for Q4 2016 as well as the whole financial year.
MGM China reported that its operating income for the lasts three months of the year increased by 5% amounting to $72 million. They also reported that a decline for full year revenues earning right at $14.9 billion for the year.
“With almost twice the square footage of MGM Macau, our new MGM Cotai property will allow us to capitalise on our expertise in providing exciting and diversified entertainment offerings. We are committed to continuing to bring extraordinary and memorable events to our properties in support of Macau Government’s vision for diversification and developing the city as a world-class tourism destination,” MGM China’s Chief Executive Officer and Executive Director Grant Bowie commented.
The reported results also showed that the company’s net revenues increased by $1 million which is good news especially after the little loss it incurred with its full year revenues. The main floor table games didn’t do too well, not as projected with a 2% decrease for the full year.