Summary by Moomoo AI
MGM China announced on May 1, 2024 the unaudited results of its holding shareholder, MGM International Hotels Group, for the first quarter ended March 31, 2024. The results include financial data from MGM China and are prepared in accordance with US accepted accounting principles. MGM's total revenue in China reached HK$8,258,300 thousand, a significant increase from HK$4,840,690 thousand in the same period last year. Adjusted EBITDA also increased from HK$1,412,866 thousand to HK$2,504,691 thousand. The quarterly results reflected earnings growth for MGM Macao and MGM of the Lion. However, the financial information is unaudited and cannot be directly compared to financial data prepared in accordance with the International Financial Reporting Standards. Investors should exercise caution when buying and selling US GM China securities.