Macau, China, Oct. 30, 2025 (Lusa) - Macau gambling operator MGM China announced on Thursday its most profitable third quarter ever, thanks to a 19.6% rise in net profits compared to the same period in 2024.
The company had earnings before interest, taxes, depreciation, amortisation and restructuring or leasing costs (EBITDAR) of 2.37 billion Hong Kong dollars (around €264.1 million) between July and September.
In the same period last year, MGM China had recorded net profits of 1.98 million Hong Kong dollars (€220.6 million), already the highest figure for a third quarter.
The operator had ended 2024 with a record profit of 9.06 billion Hong Kong dollars (€1 billion), for the second year in a row, after three years of losses due to the Covid-19 pandemic.
The rise in profits in the third quarter of 2025 was due to a 17.4% increase in revenue, to 8.51 billion Hong Kong dollars (€948.3 million), from the two hotel-casinos operated by MGM China in Macau.
In a statement, MGM China's parent company, the US-based MGM Resorts International, emphasised that revenues also reached the highest level for a third quarter.
The MGM Macau and MGM Cotai casinos recorded revenues of 7.87 million Hong Kong dollars (€876.1 million), up 17.6% year-on-year, in the so-called mass segment, for small gamblers who don't ask for credit.
On the other hand, the so-called VIP baccarat game saw revenues of 1.07 billion Hong Kong dollars (€119.2 million), up 47.4%.
High-stakes gambling, which in 2019 accounted for 46.2% of Macau's casino revenues, was affected by the arrest of the leader of the world's largest VIP gambling company in November 2021.
Former Suncity government director Alvin Chau Cheok Wa was sentenced in January 2023 to 18 years in prison for illegal gambling and secret society, in a case that saw the number of gambling promoter licences issued in Macau fall from 85 to 18.
According to the gambling news portal GGRAsia, during a conference call with analysts, the president of MGM China, Kenneth Feng Xiaofeng, revealed that the company plans to convert 160 rooms at the MGM Cotai hotel into 60 suites in the first half of 2026.
Six gaming concessionaires — 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.
The region's casinos began 2025 with total revenues of 181.3 billion patacas (€19.6 billion), 7.1% more than in the same period of 2024 and 82.3% more than in the first nine months of 2019, before the pandemic.
VQ/ADB // ADB.
Lusa
