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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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Macau Government Extends Lottery Concession of Macau Slot Until 5 June 2026

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The Macau government has extended the lottery concession of Macau Slot Co Ltd for one year until 5 June 2026.

The concession renewal was published in the official gazette on Wednesday. Further extensions may be granted, subject to mutual agreement between the Macau government and Macau Slot.

As part of the renewal terms, Macau Slot is required to gradually reduce its number of non-resident employees and actively collaborate with the government to recruit and retain local talent.

Earlier this month, the government held a meeting with Macau Slot representatives to discuss the extension. According to the Gaming Inspection and Coordination Bureau (DICJ), the city’s industry regulator, Macau Slot committed to cutting 35% of its non-local, non-skilled workforce—equivalent to 26 positions—by the first quarter of 2026. The company also pledged to make further reductions to its foreign labour quota in the future. Currently, non-local staff account for 15% of the total workforce at Macau Slot.

“Over the past year, despite fluctuations in the macroeconomic environment and slower economic recovery in neighbouring regions, the local economy has remained relatively stable under the guidance of the Macau SAR government’s policies,” Macau Slot said in a statement.

“Looking ahead, we are committed to further diversifying our sports betting products to meet customer demand, while upgrading our information technology infrastructure to stay current and deliver more comprehensive sports betting services.”

The post Macau Government Extends Lottery Concession of Macau Slot Until 5 June 2026 appeared first on European Gaming Industry News.

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QTech Games strengthens its elite suite with Bigpot Gaming

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Emerging-markets leader expands its all-encompassing library with exciting new slots portfolio

QTech Games, the leading game aggregator for all emerging markets, has signed its latest provider partnership with Bigpot Gaming, enabling its platform customers to access the supplier’s innovative and multi-faceted slots catalogue.

Bigpot Gaming, an exciting challenger studio in the igaming arena, draws from a deep well of slot games – including titles such as Quests Of Olympus, Mega Sevens, Golden Kitty and Journey To The Abyss – which form an eclectic range of popular titles.

Bigpot Gaming specialises in developing high-quality online slot and table games which are RNG-certified and fully compliant with international regulatory standards. To underscore this commitment to fairness, Bigpot Gaming is certified by four recognised test laboratories in GLI, BMM, GA and iTech Labs.

The agreement also broadens Bigpot Gaming’s global scope, targeting emerging markets and creating new revenue streams. As the fastest-growing aggregator over the past few years, QTech’s platform offers the most expansive gaming portfolio around, localised for each region, retention and marketing tools, and 24/7 local-language support.

QTech Games CEO, Philip Doftvik, said: “It’s another feather in our cap to have integrated more premium content, this time from Bigpot Gaming. We will continue to raise the bar and shape a localised experience for global players. And we can’t wait to witness how these games perform across a range of untapped markets which, in many cases, represent new territory for Bigpot Gaming.”

David Shon, Global Sales Executive at Bigpot Gaming, added: “Bigpot Gaming stands out as a fast-growing rookie studio for slots games and a real revenue-driver for digital casinos, always offering players a fresh yet familiar gaming experience.

“This collaboration marks another crucial step in our company’s worldwide growth strategy, and. Bigpot Gaming is targeting the finest content aggregators to improve our visibility and influence in the sector, and QTech Games sets the gold standard for emerging markets.”

The post QTech Games strengthens its elite suite with Bigpot Gaming appeared first on European Gaming Industry News.

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Polemos Announces Partnership with Guinevere Capital

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Polemos, a Web3 gaming infrastructure platform, has announced a strategic partnership with Guinevere Capital, a prominent esports and gaming investment firm known for its investments and advisory roles in projects such as GiantX, iTero, Perion, Skybox and various other projects across the industry. Guinevere Capital has established a strong reputation for its work across global Web2 gaming titles, including League of Legends, Valorant, Rocket League and many more. This partnership aims to leverage the combined expertise of Polemos.io and Guinevere Capital to enhance and further monetise audiences across publishers, infrastructure players, gaming companies, studios and platforms.

The collaboration will focus on integrating advanced asset management and engagement tools from Polemos.io’s Forge platform with Guinevere Capital’s extensive network and experience in both Web2 and esports ecosystems. This will create new monetisation opportunities and improve player experiences by bridging traditional gaming with blockchain-enabled innovations.

Carl Wilgenbus, CEO of Polemos.io, said: “Partnering with Guinevere Capital marks a significant milestone in our mission to expand access to gaming rewards and unlock new revenue streams for the entire gaming industry. Together, we will empower publishers and studios to better engage their audiences and capitalize on the evolving landscape of gaming and esports.”

“Polemos has built an impressive piece of infrastructure that has plugged a huge gap in the gaming sector. We look forward to working with them to commercialise this,” said Dave Harris, a partner at Guinevere Capital.

Dave’s previous experience includes investing in and operating top teams and leagues in the Riot Games and Activision Blizzard ecosystems.

Guinevere Capital’s strategic involvement will accelerate the adoption of blockchain gaming infrastructure while supporting the growth of esports and gaming communities worldwide. This alliance underscores a shared vision to drive innovation, education and monetisation in the gaming sector by combining Web2’s reach with Web3’s potential.

The post Polemos Announces Partnership with Guinevere Capital appeared first on European Gaming Industry News.

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