Summary by Futu AI
MGM China Holdings Limited (the “Company”) announces consolidated annual results for the year ended December 31, 2023. During the period, casino revenues increased significantly to HK$218.218 billion, up 391.6% year-on-year, mainly due to the easing of COVID-19 travel restrictions in Macau. Operating income also increased from HK$5.268 million to HK$246.842 billion in the previous year. Adjusted EBITDA translated from a loss of HK$12,743 billion to a profit of HK$72,352 million last year. The Company's owners accounted for an annual profit of HK$26.383 billion and a profit of HK$69.4 cents per share. The Board of Directors announced the payment of a special dividend of HK$0.104 per share for a total of approximately HK$3.952 billion, representing approximately 15% of the profit; a final dividend of HK$0.243 per share for a total of HK$9.4 billion, representing approximately 35% of the profit. Dividends will be paid to shareholders on 23 April 2024 and 20 June 2024. For the year ended December 31, 2023, the Company repurchased and delisted a total of 2,947,300 shares at a total cost of HK$2,940 million.