Monday, August 08, 2022

MGM Cotai to achieve $214 million EBITDA in 2017


US-brokerage Union Gaming says it is forecasting MGM Cotai will achieve US$214 million in adjusted property EBITDA in 2017.

The estimate is based on three quarters of operation. For its full year of operations, the brokerage said it forecasts $386 million of adjusted property EBITDA, said the brokerage in a note on Wednesday.

While the new resort is scheduled to open in 17Q1, Bernstein noted last month there was a slight chance it may trickle into 17Q2.

“MGM China expects to complete all the government processes by the end of this year and maintains its target date of late Q1 2017, though there is the possibility that the opening may trickle into Q2,” said the brokerage.

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