MGM China, the majority ownership firm of the world famous MGM Macau casino resort, has reported its financial results and public update for the second quarter and first half of 2020.
Undoubtedly, the figures and business operations have been impacted by the ongoing Covid-19 pandemic and that remains to be the case.
In China, restrictions are still in place on tourism, meaning a temporary suspension of tour groups and the Individual Visit Scheme resulted in a drastic decline in the number of people visiting casinos and hotels in the operating regions.
Hubert Wang of MGM China commented on the results:
“We are encouraged to see the lifting of quarantine measures for visitors from Macau into Guangdong Province, as an important first step of business normalization.
While we focus to contain our costs, we are rolling out programs to drive traffic and prepare for gradual recovery.
The trend-setting holistic non-gaming offerings at both MGM MACAU and MGM COTAI have been well received. We are confident about the prospects of Macau gaming and hospitality market in a longer term.”
The gambling and hospitality market in Macau is still experiencing low visitation levels because of the travel restrictions in place between mainland China and Hong Kong, two of the areas’ most popular travel-from locations.
As part of MGM China’s relaunch, the firm has introduced ‘MGM Mixy-Go-Matchy offerings’, which includes bespoke hospitality packages, enhanced food and beverages options and cultural entertainment.
For more information and to read more about MGM China’s 2020 results click here.