Considering overall market trends, the declines in VIP gaming were equally substituted by mass gaming in Q1’19 and Q2’19, which can be attributed to shifting consumer demand.This can be attributed to the overall market trend, where VIP gaming volumes took a hit due to increased regulatory oversight.Despite numerous luxury offerings, MGM China’s mass-market gaming volume increased by a staggering 46% as compared to just 18% for VIP gaming in 2018.MGM Cotai offers specialized junket rooms and other high-end luxury villas for its VIP customers.MGM China’s casino revenues can be classified into three categories: VIP gaming, mass-market gaming, and slot gaming, which generated gross revenues ( before incentives) of $1.2 billion, $1.4 billion, and $285 million in 2018, respectively.In 2018, MGM China reported $2.2 billion of casino revenues – a jump of 26% compared to the previous year due to the opening of MGM Cotai in February.
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