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The MGM China Holdings Limited subsidiary of American casino operator MGM Resorts International has reportedly released its second-quarter financial results showing that its net revenues tumbled by 95% year-on-year to just .Parental plunge:Inside Asian Gaming reported that Las Vegas-headquartered MGM Resorts International owns just short of 56% of MGM China Holdings Limited while this firm’s own second-quarter financial results revealed a 91% year-on-year decrease in net revenues to a mere 0 million.2 million....
Testing times:Bill Hornbuckle was this week officially named as the new President and Chief Executive Officer for MGM Resorts International and he reportedly proclaimed that the ‘near-term operating environment’ for his firm is certain to ‘remain challenging and unpredictable’ due to the ongoing impact of coronavirus.According to a report from Inside Asian Gaming, business at the operator’s two venues in Macau has been severely damaged by the recent imposition of local coronavirus-related travel restrictions with the firm admitting that visitation hit ‘near zero’ for the three months to the end of June., was granted a permanent casino service industry enterprise license (CSIE) for the New Jersey market....
Hornbuckle reportedly stated…“We remain focused, flexible and disciplined in navigating this evolving landscape while continuing to pursue our long-term growth opportunities, supported by our strong liquidity position.25 billion revolving credit facility during the quarter to bring its current outstanding debt to roughly .8 million in run-rate operating outlay as its adjusted property earnings before interest, tax, depreciation, amortisation and restructuring or rental costs came is at a deficit of 6 million....
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