美高梅中国2023 中期报告

• 2023525William Joseph Hornbuckle2023525John M. McManus202352520235252023720 Herbert Smith Freehills1523 Daniel J. TaylorAyesha Khanna MolinoJonathan S. Halkyard DSL40916 Russell Francis Banham Third Floor, Century YardCricket Square, P.O. Box 902Grand Cayman, KY1-1103Cayman Islands Russell Francis BanhamAyesha Khanna MolinoJonathan S. Halkyard — 16 Russell Francis BanhamDaniel J. Taylor 2001402 183171712-1716 2023525Russell Francis BanhamJohn M. McManusAyesha Khanna Molino2023525 Tricor Services (Cayman Islands) LimitedThird Floor, Century YardCricket Square, P.O. Box 902,Grand Cayman, KY1-1103Cayman Islands Antonio Jose Menano https://cn.mgmchinaholdings.com 2282 William Joseph HornbuckleAntonio Jose Menano 201163MRIH55.95%22.49% 200712202363023,2838923543558581,60025 2018213202363024,5491,0283961,418122,87028 COVID-19 COVID-1920202022202212COVID-19202318COVID-19202341COVID-1920236302022630205.1%778 20229142022121610202311203212317501,700 202363020245152026515 58.5 ————+———— ———— 16716215014690% 2019COVID-19202370.9%64.8% 202220236302022236.1%141.0%20236302022205.1%7782023630201942.6%46.4% COVID-192014 —10 —24 — — — 202363030COVID-19201912319.5%198202363014.9% 202363084% 20211220226 200712585468991820182—1,4181,2489916272881,600122,87020232023 2023—Paul Anka: The Greatest Hits, His Way inMacauSHIPLEDSHOWLED2023 Dale Chihuly 30028 EBITDA EBITDA EBITDAEBITDAEBITDAEBITDAEBITDA20232022630 20236302022630 20232022630 2023630106.494231.2%2022COVID-1920236302019COVID-195.7% 202363096.0202022630248.8% 202363090.1082022630234.6%184.5%312.3%210.163185.688 20236302022630410.4%18.651169.2%405.5%158.919352.558 20236 3020226 30124.1%7.53696.8%130.0%98.80791.930 20236302022630126.1%10.474COVID-19 20232022630 20236302022630235.8%46.5692023630 2023630202263077.5%3.328COVID-19 202363015.5%17.8012022630COVID-19 202363020226302,73080.4%53020236306,00020226307,1305,47020226304,400 2023630202263087.0%10.529 20226301.362151.5%20236303.426COVID-192023630 241.6%20226 305,70020236301.948 202363020226307.7%9.548 20226307.35620236309.78820223.0%5.7%1.50120236306,67020226 3014 202263024.04220236308.209 202363035.173.258.8 202363020221231 20232022630 20226302023630 20236307,73020226302.1872.913202320226 302.1401.73120226 304,560 202363069.588202263054.652 2023630 •59.500 •9.337 2022630 •62.600 •7.685 2023630 20236309.7872022123111.535 •9.7092022123111.45720231•40020221231400•602022123160•32020221231320 20221231109.72023332.9176.8 a) b) 202220231202343.490380 201951615.07.505.375%20245157.505.875%202651520242026201911155151115 20206185.005.25%20256182025202012186181218 20213317.504.75%20272120272022212181 202420262019516U.S. Bank National Association2025202720206182021331Wilmington Savings Fund Society, FSB (1)(2) 101%(1)193413(d)(3)(2)(3)193413(d)(3)50%(4)60%60% 100%101060 201981297.520245152019814 202052623.420245153997.520206297.8031.2 202363020245152026515 58.5 202363073.2 1.625%2.75% 202363055.542.031.22026515202651520236302.75% 4.51.02.51.020219304.501.0020219302.501 COVID-19202022120204920201015202122420222102020101420212242022210 2023630 (1)2020221(2)202049(3)20201014(4)20201015(5)2021224(6)2022210(7)2023630 2023630 50% 202211107.5058.820241110 4.0% 202363058.81% 27.520232022630 20232022630 20236302024630 202363010,568202212319,788 •—•—•—•— 2011 2023630 2023630XVXV78352 (1)(2)Grand Paradise Macau Limited(3)5,018,40020(4)202515,000,000(5)B97.4%15%B1 (6)2005(7)Emerging Corporate Limited(8)William Joseph Hornbuckle48,303(9)William Joseph Hornbuckle272,221(10)William Joseph Hornbuckle93(11)William Joseph Hornbuckle471,9741.6(12)William Joseph Hornbuckle1841.6(13)(14)William Joseph Hornbuckle(15)John M. McManus238(16)John M. McManus64,431(17)John M. McManus20(18)John M. McManus104,3801.6(19)John M. McManus401.6(20)John M. McManus(21)(22) (23)Daniel J. Taylor79,484(24)Daniel J. Taylor57,337(25)Daniel J. Taylor4,344(26)Daniel J. Taylor3,442(27)(28)Ayesha Khanna Molino17,665(29)Ayesha Khanna Molino41(30)Ayesha Khanna Molino17,5471.6(31)Ayesha Khanna Molino61.6(32)Ayesha Khanna Molino(33)Ayesha Khanna Molino(34)Jonathan S. Halkyard21,422(35)Jonathan S. Halkyard51,310(36)Jonathan S. Halkyard11(37)Jonathan S. Halkyard68,4041.6(38)Jonathan S. Halkyard91.6(39)Jonathan S. Halkyard 2023630XV(i)XV78(ii)352(iii) 2023630336 (1)MRIHMGM International, LLCMGM International, LLCMGM International, LLCMRIH2,126,100,001 (2)Grand Paradise Macau LimitedGrand ParadiseMacau Limited474,561,200 2023630XV23336 164020221632 20112020 (i) (ii) (iii) 2011 201151120167282017524201120111.16 7112017420201120215102011201120112011 201161,892,788 2020 2020528202020112020202020202020 2023630202053,633,300 202363020112020115,526,0883.0% 2020380,000,0002020528202010%20202020354,247,0889.3% 202311236,586,1002023630239,502,700 202030% 20201%17 2020 1.00 (i)(ii)(iii) 2020 2020202052810 202363020112020 (1)20236308.923.50— 20236309