MGM China Reports 2025 Second Quarter Results
MGM China (OTC:MCHVY) reported strong Q2 2025 financial results, achieving record-high quarterly performance. The company posted net revenue of HK$8.7 billion (up from HK$8.0 billion in Q2 2024) and adjusted EBITDA of HK$2.5 billion with a 29.0% margin. Their market share increased to 16.6% from 16.0% year-over-year.
The company saw significant growth with daily GGR increasing 12% year-over-year to MOP111.2 million. Property visitation grew by 12% year-over-year, reaching 175% of 2019 pre-COVID levels. The Group maintained strong liquidity of HK$22.5 billion and achieved 94.5% average occupancy. Notable developments include the completion of Alpha Villas at MGM MACAU and the success of their residency show "Macau 2049."
[ "Record high quarterly adjusted EBITDA, up 6.1% quarter-over-quarter", "Market share increased to 16.6% from 16.0% year-over-year", "Net revenue grew to HK$8.7 billion, up 8.4% quarter-over-quarter", "Daily GGR increased 12% year-over-year to MOP111.2 million", "Property visitation grew 12% year-over-year, reaching 175% of 2019 levels", "Strong liquidity position of HK$22.5 billion", "High average occupancy rate of 94.5%" ]MGM China (OTC:MCHVY) ha riportato risultati finanziari solidi nel secondo trimestre 2025, raggiungendo una performance trimestrale da record. La societ脿 ha registrato un ricavo netto di 8,7 miliardi di HKD (in aumento rispetto agli 8,0 miliardi di HKD del Q2 2024) e un EBITDA rettificato di 2,5 miliardi di HKD con un margine del 29,0%. La quota di mercato 猫 cresciuta al 16,6% rispetto al 16,0% dell'anno precedente.
La societ脿 ha registrato una crescita significativa con il GGR giornaliero in aumento del 12% su base annua, raggiungendo 111,2 milioni di MOP. Le visite alle propriet脿 sono cresciute del 12% rispetto all'anno precedente, raggiungendo il 175% dei livelli pre-COVID del 2019. Il Gruppo ha mantenuto una forte liquidit脿 di 22,5 miliardi di HKD e ha raggiunto un tasso medio di occupazione del 94,5%. Tra gli sviluppi rilevanti si segnalano il completamento delle Alpha Villas al MGM MACAU e il successo dello spettacolo di residenza "Macau 2049".
- EBITDA rettificato trimestrale da record, +6,1% trimestre su trimestre
- Quota di mercato aumentata al 16,6% dal 16,0% su base annua
- Ricavi netti cresciuti a 8,7 miliardi di HKD, +8,4% trimestre su trimestre
- GGR giornaliero aumentato del 12% su base annua a 111,2 milioni di MOP
- Visite alle propriet脿 cresciute del 12% su base annua, raggiungendo il 175% dei livelli del 2019
- Posizione di liquidit脿 solida di 22,5 miliardi di HKD
- Alto tasso medio di occupazione del 94,5%
MGM China (OTC:MCHVY) report贸 s贸lidos resultados financieros en el segundo trimestre de 2025, logrando un desempe帽o trimestral r茅cord. La compa帽铆a registr贸 ingresos netos de 8.700 millones de HKD (frente a 8.000 millones de HKD en el Q2 2024) y un EBITDA ajustado de 2.500 millones de HKD con un margen del 29,0%. Su cuota de mercado aument贸 al 16,6% desde el 16,0% interanual.
La empresa experiment贸 un crecimiento significativo con un aumento del 12% interanual en el GGR diario, alcanzando los 111,2 millones de MOP. Las visitas a las propiedades crecieron un 12% interanual, alcanzando el 175% de los niveles previos a la COVID-19 en 2019. El Grupo mantuvo una s贸lida liquidez de 22.500 millones de HKD y logr贸 una ocupaci贸n promedio del 94,5%. Entre los desarrollos destacados se encuentran la finalizaci贸n de Alpha Villas en MGM MACAU y el 茅xito de su espect谩culo residente "Macau 2049".
- EBITDA ajustado trimestral r茅cord, aumento del 6,1% trimestre a trimestre
- Cuota de mercado aument贸 al 16,6% desde el 16,0% interanual
- Ingresos netos crecieron a 8.700 millones de HKD, un 8,4% trimestre a trimestre
- GGR diario aument贸 un 12% interanual a 111,2 millones de MOP
- Visitas a propiedades crecieron un 12% interanual, alcanzando el 175% de niveles de 2019
- Posici贸n s贸lida de liquidez de 22.500 millones de HKD
- Alta tasa promedio de ocupaci贸n del 94,5%
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鞚检澕 GGR鞚� 鞝勲厔 雽�牍� 12% 歃濌皜頃橃棳 1鞏� 1,120毵� 毵堨勾鞓� 韺岉儉旃�毳� 旮半頃橂┌ 韥� 靹膘灔鞚� 氤挫榾鞀惦媹雼�. 攵�霃欖偘 氚╇臧� 靾橂姅 鞝勲厔 雽�牍� 12% 歃濌皜頃� 2019雲� 旖旊雮� 鞚挫爠 靾橃鞚� 175%鞐� 雼枅鞀惦媹雼�. 攴鸽９鞚� 225鞏� 頇嶌僵雼煬鞚� 臧曤牓頃� 鞙犽彊靹膘潉 鞙犾頄堨溂氅� 韽夑窢 鞝愳湢鞙� 94.5%毳� 雼劚頄堨姷雼堧嫟. 欤检殧 臧滊皽 靷暛鞙茧電� MGM MACAU鞚� Alpha Villas 鞕勱车瓿� 霠堨雿橃嫓 靽� "Macau 2049"鞚� 靹标车鞚� 韽暔霅╇媹雼�.
- 攵勱赴氤� 臁办爼 EBITDA 靷儊 斓滉碃旃�, 鞝勲秳旮� 雽�牍� 6.1% 歃濌皜
- 鞁滌灔 鞝愳湢鞙澊 鞝勲厔 雽�牍� 16.0%鞐愳劀 16.6%搿� 歃濌皜
- 靾滌垬鞚奠澊 87鞏� 頇嶌僵雼煬搿� 鞝勲秳旮� 雽�牍� 8.4% 歃濌皜
- 鞚检澕 GGR鞚� 鞝勲厔 雽�牍� 12% 歃濌皜頃橃棳 1鞏� 1,120毵� 毵堨勾鞓� 韺岉儉旃� 旮半
- 攵�霃欖偘 氚╇臧� 靾橁皜 鞝勲厔 雽�牍� 12% 歃濌皜頃橃棳 2019雲� 靾橃鞚� 175% 雼劚
- 225鞏� 頇嶌僵雼煬鞚� 臧曤牓頃� 鞙犽彊靹� 頇曤炒
- 韽夑窢 鞝愳湢鞙� 94.5%鞚� 雴掛潃 靾橃箻
MGM China (OTC:MCHVY) a publi茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025, atteignant des performances trimestrielles record. La soci茅t茅 a affich茅 un chiffre d'affaires net de 8,7 milliards HKD (en hausse par rapport 脿 8,0 milliards HKD au T2 2024) et un EBITDA ajust茅 de 2,5 milliards HKD avec une marge de 29,0%. Leur part de march茅 est pass茅e 脿 16,6% contre 16,0% l'ann茅e pr茅c茅dente.
La soci茅t茅 a connu une croissance significative avec un GGR quotidien en hausse de 12% en glissement annuel 脿 111,2 millions MOP. La fr茅quentation des 茅tablissements a augment茅 de 12% en glissement annuel, atteignant 175% des niveaux d'avant COVID de 2019. Le Groupe a maintenu une forte liquidit茅 de 22,5 milliards HKD et a atteint un taux d'occupation moyen de 94,5%. Parmi les d茅veloppements notables figurent l'ach猫vement des Alpha Villas au MGM MACAU et le succ猫s de leur spectacle r茅sidentiel "Macau 2049".
- EBITDA ajust茅 trimestriel record, en hausse de 6,1% trimestre apr猫s trimestre
- Part de march茅 en hausse 脿 16,6% contre 16,0% en glissement annuel
- Chiffre d'affaires net en hausse 脿 8,7 milliards HKD, +8,4% trimestre apr猫s trimestre
- GGR quotidien en hausse de 12% en glissement annuel 脿 111,2 millions MOP
- Fr茅quentation des 茅tablissements en hausse de 12% en glissement annuel, atteignant 175% des niveaux de 2019
- Position de liquidit茅 solide de 22,5 milliards HKD
- Taux d'occupation moyen 茅lev茅 de 94,5%
MGM China (OTC:MCHVY) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025 und erzielte eine rekordverd盲chtige Quartalsleistung. Das Unternehmen verzeichnete einen Nettoumsatz von 8,7 Milliarden HKD (gegen眉ber 8,0 Milliarden HKD im Q2 2024) und ein bereinigtes EBITDA von 2,5 Milliarden HKD bei einer Marge von 29,0%. Der Marktanteil stieg von 16,0% auf 16,6% im Jahresvergleich.
Das Unternehmen verzeichnete ein signifikantes Wachstum mit einem t盲glichen GGR-Anstieg von 12% im Jahresvergleich auf 111,2 Millionen MOP. Die Besucherzahlen der Immobilien stiegen im Jahresvergleich um 12% und erreichten 175% des Vorkrisenniveaus von 2019. Die Gruppe hielt eine starke Liquidit盲t von 22,5 Milliarden HKD und erreichte eine durchschnittliche Auslastung von 94,5%. Zu den bemerkenswerten Entwicklungen z盲hlen die Fertigstellung der Alpha Villas im MGM MACAU und der Erfolg der Residency-Show 鈥濵acau 2049鈥�.
- Rekordverd盲chtiges bereinigtes EBITDA im Quartal, Anstieg um 6,1% gegen眉ber dem Vorquartal
- Marktanteil stieg von 16,0% auf 16,6% im Jahresvergleich
- Nettoumsatz stieg auf 8,7 Milliarden HKD, ein Plus von 8,4% gegen眉ber dem Vorquartal
- T盲gliches GGR stieg im Jahresvergleich um 12% auf 111,2 Millionen MOP
- Besucherzahlen der Immobilien stiegen im Jahresvergleich um 12% und erreichten 175% des Niveaus von 2019
- Starke Liquidit盲tsposition von 22,5 Milliarden HKD
- Hohe durchschnittliche Auslastung von 94,5%
- None.
- Adjusted EBITDA margin slightly decreased to 29.0%
Insights
MGM China achieves record quarterly EBITDA with 16.6% market share and strong recovery metrics, indicating successful premium positioning strategy.
MGM China has delivered impressive Q2 2025 results that demonstrate continued momentum in Macau's gaming recovery. The company reported record high quarterly adjusted EBITDA of
Net revenue reached
The company's daily GGR reached
MGM's balance sheet remains robust with total liquidity of approximately
The company's emphasis on non-gaming initiatives, including culinary events, sporting competitions, and the successful "Macau 2049" residency show (which has attracted
Record High Quarterly Adjusted EBITDA聽 Market Share Reached
The Group is pleased to see the Period Macau has posted growth from last year. Daily visitation reached 102,812, representing a year-on-year growth of
Gross gaming revenue (GGR) in
- MGM China, in the second quarter, saw property visitation grow by
12% year-on-year reaching175% of 2019 pre-COVID levels聽 - MGM China's daily GGR in the Period grew by
12% year-on-year to MOP111.2 million, compared to MOP100.4 million in the first quarter. - Net revenue for the Group was
HK in the second quarter (24Q2:$8.7 billion HK ). The Group reported adjusted EBITDA of$8.0 billion HK for the quarter (24Q2:$2.5 billion HK ). Adjusted EBITDA margin for the Period was$2.4 billion 29.0% . - On a quarter-on-quarter basis, net revenue was up
8.4% while adjusted EBITDA was up6.1% , marking the quarter as a historical high. Adjusted EBITDA has surpassed 2019 pre-COVID levels by172% . - We are glad to see a solid market share for the Period, which grew to approximately
16.6% from16.0% a year ago. MGM COTAI market share was approximately10.5% and MGMMACAU market share was approximately6.2% . - Average occupancy was
94.5% for the Period. - The Group maintained a healthy financial position. As of June 30, 2025, the Group had total liquidity of approximately
HK , comprised of cash and cash equivalents and undrawn revolver.$22.5 billion
The Group has completed construction of Alpha Villas at MGM
During the Period, MGM China has proudly delivered a series of non-gaming events and excitements. Demonstrating MGM's commitment to bringing world-class cuisine to
Beyond gastronomy, MGM also champions sports and cultural initiatives, having collaborated with the Macau Government to host the MGM Artistic Swimming Elite Extravaganza & Macao Open Competition 2025 in June. Featuring a grand showcase, open competition, and exclusive professional training classes, MGM continues to spotlight our elite athletes, including
Moreover,
Kenneth Feng, President and Executive Director of MGM China聽said: "We are delighted to see another quarter of growth driven by our deep understanding and customers and our ability to refresh our products and offerings to cater to customers' taste.
"Following the launch of Alpha Villas, MGM COTAI has begun converting rooms into around 60 new suites, all of which will help us further uphold our complimentary positioning of the properties with MGM
"We are committed to bringing more unique and quality experiences to our visitors, to align our offerings with the Macau Government's vision to develop the city into a global and diversified tourist destination," said Kenneth Feng.
About MGM China Holdings Limited
MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the
MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at .
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SOURCE MGM China
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