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MGM China Reports 2020 Annual Results

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MGM China Holdings Limited has announced the selected unaudited financial data of the Company and its subsidiaries for the quarter and year ended 31 December 2020.
During the year, MGM China saw revenue down by 78% to approximately HK$5.1 billion. The Group had a negative adjusted EBITDA of approximately HK$1.4 billion. Fourth-quarter market-wide GGR declined by 70% year-over-year, compared with a 93% year-on-year decline in Q3.
For the fourth quarter, MGM China recorded total revenue of approximately HK$2.4 billion, up by 550% from the third quarter. The Group had a turnaround for the quarter with a total adjusted EBITDA of approximately HK$367.2 million, (2020 third quarter: HK$730.6 million loss), with both properties recorded positive EBITDA. In Q4, MGM MACAU recorded adjusted EBITDA of approximately HK$247.1 million, and MGM COTAI at HK$120.1 million.
The market share of MGM China rose to 9.9% in 2020 from 9.5% a year ago. Fourth-quarter market share reached 12.6% with business outperformed the market. The Group maintained a healthy financial position. As of December 31, 2020, the Group had total liquidity of approximately HK$9.5 billion, comprised of cash and cash equivalent and undrawn revolver.
Hubert Wang, President and COO of MGM China, said: “We are pleased to see MGM China turned profitable again driven by strong market share gains and continued cost mitigation efforts.
“We expect the broader rate of business recovery will continue to be gradual, driven by the premium mass market which both MGM MACAU and MGM COTAI are well positioned to capture.
“MGM China will continue to invest in strengthening our market position, and continue to believe in the long-term success of Macau. We have been committed to supporting Macau as a world tourism destination. We look forward to working with the government through the licensing renewal process in hopes to further our support for many more years to come.”
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EGT is an official partner of the prestigious “Gaming Industry Gala Dinner”, organized by AOGGAB
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EGT is proud to announce that it is an official partner of the “Gaming Industry Gala Dinner”, organized by the Association of Organizers of Gambling Games and Activities in Bulgaria (AOGGAB) with the support of EUROMAT. The event will be held on November 25 and for the third consecutive year will bring together leading companies and figures from Bulgaria and abroad.
The motto of the gala dinner will be “Together in Europe” and will focus on European integration, professional collaboration, and a shared vision for a sustainable future of the industry.
Traditionally, the “Golden Spade’s” Awards will also be presented during the event. The prizes honor the greatest innovations and the most significant achievements in the sector over the past 12 months. EGT is among the finalists in the competition and will compete for the accolade in the “Most Successful Bulgarian Company Abroad of the Year” and “Slot Machine of the Year” categories.
EGT received the nomination for “Most Successful Bulgarian Company Abroad of the Year” as it is the biggest gaming equipment manufacturer in Bulgaria with 28 international offices on 5 continents. In 2025, it made a large number of installations and substantially increased its footprint in a number of markets. Currently, EGT’s products are present in over 100 jurisdictions around the world.
The company is also a contender for the “Slot Machine of the Year” award. It was shortlisted because of its latest series of slot cabinets Supreme, including 4 models – S 32-32 UP, S 32-32 ST, S 55 S ST, and S 55 V ST. They immediately received high praise from both operators and players for the perfect combination of attractive design, exceptional convenience provided by their numerous ergonomic features, and compatibility with some of the most popular and beloved games from EGT’s portfolio. Supreme slot cabinets have already been installed in a number of gaming venues globally, where they continue to demonstrate excellent results and remain among customers’ favorites.
The post EGT is an official partner of the prestigious “Gaming Industry Gala Dinner”, organized by AOGGAB appeared first on European Gaming Industry News.
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RANGERS FANS BRAVE THE ELEMENTS TO RAISE MONEY FOR HOMELESSNESS IN GLASGOW
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The post RANGERS FANS BRAVE THE ELEMENTS TO RAISE MONEY FOR HOMELESSNESS IN GLASGOW appeared first on European Gaming Industry News.
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Team Soul Crowned Champions of Chennai Esports Global Championship (CEGC) 2025 BGMI Grand Finals
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Team Soul emerged victorious at the Chennai Esports Global Championship (CEGC) 2025 BGMI Grand Finals, held from November 14 to 16 at the Jawaharlal Nehru Indoor Stadium, becoming the second team to lift the trophy under Tamil Nadu’s state-backed international esports initiative.
Organised by the Sports Development Authority of Tamil Nadu (SDAT) in partnership with Skyesports, the three-day championship marked a major milestone for Indian mobile esports. The finals drew hundreds of on-ground spectators and a significant nationwide digital audience, reinforcing the rapid growth of competitive gaming in the country.
Team Soul secured the title through the tournament’s newly introduced Smash Rule, a format designed to reward consistent performance while ensuring a high-stakes finish. After surpassing the Match Point threshold on Match 15, the team won the following match to seal the championship. The Grand Finals featured 16 leading Indian teams, including Soul, Gods Reign, True Rippers, Revenant Esports and Team Tamilas.
The CEGC featured a total prize pool of INR 1 crore, with INR 50 lakh allocated to the BGMI championship. The winners, Team Soul, took home INR 21.5 lakh, while runners-up True Rippers earned INR 11 lakh. Hydro from True Rippers was adjudged the Finals MVP.
Team Soul were felicitated by the Hon’ble Deputy Chief Minister of Tamil Nadu, Thiru. Udhayanidhi Stalin who handed over the championship trophy. His presence and direct participation highlighted the state’s strong commitment to recognising esports as a legitimate avenue for youth engagement, digital innovation, and sporting excellence.
The Chennai Esports Global Championship is India’s first state government backed international esports tournament. It reflects Tamil Nadu’s long-term plan to position esports as a powerful platform for skill development, digital opportunities and the growth of the creative economy. With CEGC, Chennai is being actively positioned as a future global hub for esports and gaming innovation.
The BGMI Grand Finals followed the conclusion of the CEGC Counter-Strike 2 championship the previous week, which brought together top teams from Europe, Southeast Asia and India. The CS2 tournament reached more than 90,000 peak concurrent viewers across official streams and watch parties, making it India’s most-watched PC esports event.
Commenting on the tournament, Shiva Nandy, Founder and CEO, Skyesports, said, “The Chennai Esports Global Championship represents a new era for Indian esports. With the support of the Government of Tamil Nadu, we have shown that India can host world-class tournaments that match global standards while celebrating our own gaming community. S8UL’s win reflects the depth of talent in the country, and the enthusiasm for both the CS2 and BGMI championships shows that India is ready to be a serious player on the international esports stage.”
The success of CEGC BGMI 2025 reinforces India’s position as one of the fastest growing gaming markets, with more than 450 million gamers and a rapidly accelerating esports ecosystem. With strong state support and industry execution, the CEGC model sets a benchmark for scalable and sustainable esports growth in India.
The post Team Soul Crowned Champions of Chennai Esports Global Championship (CEGC) 2025 BGMI Grand Finals appeared first on European Gaming Industry News.
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