Macau, July 31, 2025 (Lusa) - Macau casino operator MGM China on Thursday announced profits of HK$2.5 billion (€278 million) in the second quarter of the year.
The figure represents a 6.1% increase over the same period in 2024, according to a statement sent by the company to the Hong Kong stock market.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) “marked the quarter as a historic record”, having “surpassed pre-covid levels of 2019 by 172%”.
The adjusted EBITDA margin for the period was 29%, the group also announced in the statement, which reported an 8.75% increase in net revenue compared to the same quarter last year.
The group's net revenue was HK$8.7 billion (€970 million), compared to HK$8 billion (€892 million) in the second quarter of 2024.
MGM China also recorded a 12% year-on-year increase in visits in the second quarter of the year and a 16% growth in market share between April and June 2024 to 16.6% in the same period this year, with average occupancy at the group's hotels in Macau reaching 94.5% in the period. In this regard, the group announced the completion of the construction of 28 villas at MGM Macau, which have been available since the beginning of July.
“We are pleased to report a solid market share for the period, which grew from 16% in the previous year to approximately 16.6%. MGM Cotai’s market share was approximately 10.5% and MGM Macau’s market share was approximately 6.2%,” the group announced in the statement.
The group's financial position as of 30 June 2025 showed total liquidity of approximately HK$22.5 billion (€2.5 billion), including cash, cash equivalents and unutilised credit facilities.
The Macau casino operator had announced a 5.2% drop in net profits in the first quarter compared to the same period in 2024, in which it had posted “record results”
Six casino operators, MGM, Galaxy, Venetian, Melco, Wynn and SJM, operate in Macau, the only place in China where casino gambling is legal, currently under 10-year licences that came into effect on 1 January 2023.
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