里昂发布研报称，美高梅中国第三季物业EBITDA按季下跌19%至19.84亿港元，较市场预期以及该行预期低出2%至3%。虽然美高梅中国的市占率按季下降并不令人意外，但利润率却低于该行预期。该行认为，由于澳门美高梅的翻新工作将直至明年中，预计美高梅中国的利润率增长空间将受到限制，但经了解后认为翻新所带来的影响应该是可控。MGM China (02282) fell more than 3%, as of the time of publication, it dropped by 3.08%, closing at HK$10.08, with a turnover of 51.3784 million Hong Kong dollars.
According to the Guotong Financial APP, MGM China (02282) fell more than 3%, as of the time of publication, it dropped by 3.08%, closing at HK$10.08, with a turnover of 51.3784 million Hong Kong dollars.
On the news front, MGM China announced that the third quarter adjusted EBITDA before interest, taxes, depreciation, and amortization was 1.984 billion yuan, a year-on-year increase of 5.28%; total revenue increased by 14.03% to 7.249 billion yuan. In the first three quarters, MGM China's adjusted EBITDA was 6.932 billion yuan, a year-on-year increase of 37.41%; total revenue increased by 37.99% to 23.467 billion yuan.
Lion released a research report stating that MGM China's third-quarter property EBITDA fell by 19% to 1.984 billion Hong Kong dollars, lower than market expectations and the bank's expectations by 2% to 3%. Although the quarterly decline in MGM China's market share was not surprising, the profit margin was below the bank's expectations. The bank believes that due to the renovation work at MGM Macau expected to continue until the middle of next year, the growth potential of MGM China's profit margin will be limited. However, after understanding, the bank believes that the impact of the renovation should be manageable.
