Epitomising a period of growth in the Macau gaming sector, MGM China has cited that it no longer requires funding as it cancelled a lucrative revolving loan facility with controlling shareholder MGM Resorts.
Amidst agreeing the cancellation of the loan, it was also revealed that it was untouched as the region and the operator look set for a fruitful period amidst economic growth.
Optimism stems from significant success that has already been enjoyed by MGM in the region, as revenue was reported to have spiked in 2023.
The growth was largely underpinned by an uptick when it comes to the recovery of the markets in the region, off the back of the easing of restrictions after the pandemic.
The group stated that it is ‘in a position where drawing on the facility provided by MGM Resorts is not commercially necessary’.
Macau success has seen the group confirm the building of 200 new tables in the region as it looks to expand its gaming output for those in the space.
It accelerates a period of growth for MGM as the firm has also sought to expand into Dubai through a landmark new construction agreement.
First reported by the Meed, the deal will see the long awaited continuation of construction of the MGM site in Dubai and will be led by the same firm that spearheaded the operator’s building in China.
The move adds fuel to the fire that regulatory talks are on the horizon in the region as the UAE looks to further enrich its allure to tourists through the gaming vertical.
