:"I remain convinced Starbucks' business in China will be eventually larger than our business in the U.S."
3. Disney's theme park profits benefited from the lifting of Shanghai and Hong Kong pandemic restrictions. With two theme parks in the Chinese city of Shanghai and the special administrative territory of Hong Kong,In the second fiscal quarter that ended in March, the company's global theme park division posted a 17% year-on-year increase in revenues to $7.8 billion. The division's operating profits surged 23% to $2.2 billion compared to a year ago.
"MGM Resorts is executing across all of its geographies and channels," said Bill Hornbuckle, MGM Resorts' CEO in aMacau, a special administrative region of China, saw nearly 5 million visitors in the first three months of 2023, according toMGM China posted adjusted earnings of $169 million in the first quarter from a year ago — which was almost 90% of the China division's adjusted earnings in the first quarter of 2019.
Net revenues for the MGM China division were also 130% higher from a year ago"amid strong reopening trends," MGM said in its earnings release.
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