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MGM’s Golden Week performance boosts its confidence for 2025
Despite China’s economic slowdown, MGM Resorts remains confident in its 2025 performance, driven by the recent revenues from the Golden Week.
On October 1, the People’s Republic of China celebrates its founding with a Golden Week. This is one of the busiest travel periods in the country. This year was not an exception. From October 1 to October 7, Macau, an autonomous region on the south coast of China, had nearly a million visitors.
According to the Macau Government Tourism Office (MGTO), this represents a 2% increase compared to 2019 results, with an average of 152,600 tourists daily, surpassing the government’s target of 130,000.
This means MGM Resorts, an American hospitality and entertainment company, also had a Golden Week in its Macau branch. Founded in 1987, MGM describes itself as a unique place with beautiful architecture, compelling design, and surprising elements.
Bill Hornbuckle, president and CEO of MGM, commented:
“We’ve all had an amazing week. It speaks to the general economy and the activity case in Macau. And we remain pretty excited by it all.”
Gambling sector in Asia
For 2024, Macau’s casinos have seen strong growth, with year-to-date gross gaming revenue (GGR) up 31.3% compared to last year. In only September, casinos generated MOP169.36 billion, which is equal to $21.14 billion. This is 76.9% more than pre-pandemic revenues.
MGM is considering a full expansion in Asia. Recently, the company announced its plan to have a casino project in Osaka, Japan, by 2030.
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