Zhi Tong Cai Jing·2025-08-01 06:11Core Viewpoint - Macquarie has raised its adjusted EBITDA forecasts for MGM China for the years 2025 to 2027, with slight adjustments to the target price and maintaining an "outperform" rating [1] Financial Performance - MGM China's gaming revenue increased by 12% year-on-year and quarter-on-quarter, exceeding Macquarie's expectations by 2% [1] - Total revenue rose by 9% year-on-year and 8% quarter-on-quarter, aligning with Macquarie's forecasts [1] - Adjusted EBITDA reached a record high of HKD 2.51 billion, surpassing Macquarie's expectations by 3% [1] Market Share - The company's market share grew by 0.6 percentage points year-on-year to 16.6%, the highest among six operators, indicating consistent growth [1] - Management expresses confidence in maintaining market share at a mid-double-digit level [1]