MGM China adjusted EBITDAR drops 4 percent in Q1

Macau gaming giant MGM China (2282) posted a 4 percent drop in adjusted earnings before interest, taxes, depreciation, amortization, and rent costs to US$$273 million in the first quarter.

Net revenue rose 9 percent to US$1 billion in the period.

Intercompany branding license fee expense increased by US$23 million over the prior year quarter, reflecting the new long term branding agreement between MGM and MGM China.

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