MGM Resorts’ Asia unit is seeking $2 billion in loans to expand its Macau operations, following record-breaking revenue in 2024.
MGM China, the region’s fastest-growing casino operator, posted a 27.6% revenue increase to $4.02 billion, capturing 15.8% market share, up from 10% pre-pandemic.
The company has approached a dozen banks for a five-year syndicated loan in Hong Kong dollars, marking its first such financing since Covid-19. CEO Bill Hornbuckle hailed 2024 as MGM Resorts’ best revenue year, driven by MGM China’s performance. He noted strong 2025 demand, positioning the company for continued growth.
Expansion plans, initiated in mid-2024, include diversifying offerings beyond gaming to align with government mandates. MGM Macau will expand its premium gaming area and increase villas by 25%, while MGM Cotai will convert 160 hotel rooms into 60 high-end suites. Renovations are expected to finish in late 2025.
Non-gaming attractions like Macau 2049 and the Poly Art Museum at MGM Macau, which drew over 10,000 visitors in one day during Chinese New Year, are key to boosting visitation. The company is also exploring new hotel rooms, spas, and wellness centers to strengthen its market position, despite currently having the smallest room portfolio among Macau’s Big 6 casino concessionaires.
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