MGM China achieves a new peak in adjusted EBITDA at $320 million, with their market share climbing to 16.6%
Inside Asian Gaming reports that MGM China's Macau casinos have shown a solid financial performance in Q2 2025, driven by a recovery in both the mass market and VIP gaming segments.
Financial Performance
MGM China's total revenues increased by 9% year-on-year to HK$8.67 billion (US$1.10 billion) in Q2, with MGM Cotai, the flagship resort, contributing significantly to this growth. The success of MGM Cotai is evident in its 12% increase in revenues to HK$5.28 billion (US$673 million) in Q2.
The VIP table games sector saw the largest surge, with turnover up 39% year-on-year to HK$32.7 billion (US$4.17 billion). The gross win for VIP table games almost doubled to HK$1.13 billion (US$144 million) in Q2.
MGM China's Macau market share reached 16.6% in the June 2025 quarter, reflecting its growing presence in the region. The company also recorded a 3% year-on-year increase in Adjusted EBITDA to HK$2.51 billion (US$320 million) in Q2, although the Adjusted EBITDA for MGM Cotai is not specified.
The Adjusted EBITDA for MGM China grew by around 172bps to 28.9% in Q2, indicating a healthy margin. MGM Cotai's Adjusted EBITDA increased by 5% to HK$1.46 billion (US$186 million) in Q2.
Growth Factors
Several factors contributed to MGM China's success in Q2 2025. The return of Mainland Chinese tourists, relaxation of travel restrictions, and the revival of junket operations fueled higher gaming volumes in both mass and VIP segments.
MGM Cotai's ongoing investments in new gaming floors and hotel facilities enhanced customer experience and capacity, attracting more high-spending guests. The company also optimized table allocations, increasing the number of VIP tables while maintaining strong mass market table availability.
Macau's overall gaming market showed signs of stabilization and growth in Q2 2025, benefiting all major operators, including MGM China.
In summary, Q2 2025 was a quarter of recovery and growth for MGM China’s Macau operations, with MGM Cotai achieving strong financial results supported by a robust rebound in VIP table games and a strengthening mass gaming segment. The success of MGM China in the Macau market continues in the June 2025 quarter, marking a continuation of the company's recent run of success in the region. The reporting of these financial results is done by Ben Blaschke, Inside Asian Gaming.
The impressive financial performance of MGM China's Macau casinos in Q2 2025 demonstrates their strength in the aerospace industry, as the growth can be traced back to the return of Mainland Chinese tourists and revival of junket operations, indicative of a recovering economy. The casino-games sector, particularly VIP table games, contributed significantly to the increase in revenues, with the gross win almost doubling. This successful financial performance is a testament to the growing casino-culture in the region.
