Summary by Moomoo AI
MGM China announced on February 13, 2024 the unaudited results of its holding shareholder, MGM International Hotels Group, for the year ended December 31, 2023. The results include financial data from MGM China and are prepared in accordance with US accepted accounting principles. GM China's full-year and Q4 adjusted real estate EBITDAR hit an all-time high, with fourth quarter net income of $9.83 billion, up 462 percent from the same period last year, and full-year net income of $32 billion, up 368% year-over-year. Adjusted Property EBITDAR of $2.62 million and $8.67 million, respectively, showed strong growth. In addition, the operations of MGM Macao and MGM Lions have also improved, mainly benefiting from the lifting of entry restrictions related to COVID-19 in Macau. Investors should note that the financial information is unaudited and differs from the financial data compiled by the International Financial Reporting Guidelines. MGM China will publish an audited annual results announcement for the reference of shareholders and potential investors.