MGM China Reports 2025 Annual Results

Financial Performance - MGM China reported a net revenue growth of 11% year-on-year, reaching HK$34.8 billion in 2025 [7] - Adjusted EBITDA increased by 10% to a historical high of HK$10 billion, maintaining an adjusted EBITDA margin of 28.8% [7] - The company achieved a market share of 16.1%, up from 15.8% in 2024, with MGM COTAI at 10.1% and MGM MACAU at 6.0% [7] Market Trends - Macau welcomed a record visitation of approximately 40 million in 2025, a 14.5% increase from 34.9 million in 2024 [2] - Gross gaming revenue (GGR) for the industry rose by 9% year-on-year to approximately MOP247 billion, equating to daily GGR of MOP678 million [2] - Daily visitation increased by 15% to 109,779, indicating a strong recovery in the tourism sector [2] Hospitality and Cultural Initiatives - MGM MACAU received seven five-star awards from Forbes Travel Guide in 2025, highlighting its commitment to exceptional hospitality [3] - The residency show "Macau 2049," created in collaboration with director Zhang Yimou, won the Weibo Cultural Tourism IP Award, showcasing MGM's role in cultural tourism [4] - The POLY MGM MUSEUM welcomed its one-millionth visitor and features exhibitions that blend traditional craftsmanship with modern technology [5][6] Strategic Developments - The company is converting rooms into approximately 60 new suites at MGM COTAI to enhance its offerings for premium customers [8] - MGM China aims to align its experiences with the Macau Government's vision to develop the city into a global tourist destination, focusing on non-gaming and entertainment events [9]