MGM China’s Better-than-Expected Third-Quarter Results Demonstrated its Resiliency
We now forecast MGM China to deliver HKD 15.1 billion revenue, 5% higher than our previous estimates. We also revised adjusted the EBITDA margin in 2016 to 28.6% versus 26.6% previously, after the strong beat of the third quarter margins. Management commented impact from the opening of the Parisian and Wynn Palace was almost nonexistent in Macau peninsula, speaking to the resiliency of the area. The group's targeting of mid-upper mass market is paying off, and should help MGM Cotai to build up s...MGM China Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the development and operation of casino games of chance and other casino games and the related hotel and resort facilities in Macau. Co. operates in one business segment, being the management of casino, hotel and food and beverage operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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