#China #MGM China #hospitality #Macau

MGM China's Record Growth in 2025

MGM China Holdings Limited has recently revealed impressive financial results for the year 2025. This report marks a significant milestone for the company, which is a key player in the gaming and hospitality sector in Macau. The latest figures showcase continued growth in revenue, adjusted EBITDA, and market share, indicating the company's strong positioning in a vibrant tourism market.

Unprecedented Visitation and Growth

In 2025, Macau experienced a surge in visitors, reaching approximately 40 million, a substantial increase from 34.9 million in 2024. This impressive growth translates to an average daily visitation of 109,779, representing a 15% rise year-on-year. This influx of tourists has positively impacted the gaming industry, with gross gaming revenue (GGR) ascending by 9% to about MOP247 billion, or MOP678 million on a daily basis. This figure reflects 85% of the GGR recorded in 2019, demonstrating a steady recovery towards pre-pandemic levels.

The gaming revenue for MGM China showed remarkable progress, with property visitation rising 14% year-on-year. Daily GGR increased by 11%, contributing to net revenue growth of 11%, ultimately reaching HK$34.8 billion. Moreover, the adjusted EBITDA achieved a historic high of HK$10 billion, ensuring a consistent EBITDA margin of 28.8% compared to last year's 28.9%. Such efficiency is attributed to a focused business strategy aimed at mass-market segments.

Enhanced Market Share

MGM China's efforts to capture more of the market have paid off, with their share rising to a new peak of 16.1%, climbing from 15.8% in the previous year. MGM COTAI accounted for 10.1% of this market share, while MGM MACAU contributed 6.0%. These figures underline MGM's strategically effective operations within a fiercely competitive landscape.

The company's financial health also remains strong, with total liquidity approximating HK$24 billion in cash, bank balances, and undrawn revolvers as of December 31, 2025. Such a robust financial footing positions MGM China well for future investments and growth.

Luxury Hospitality and Cultural Events

Underlining its commitment to exceptional guest experiences, MGM Macau received seven five-star awards from Forbes Travel Guide for 2025. The introduction of new offerings such as Alpha Villas, featuring 28 luxurious keys, exemplifies MGM's dedication to catering to premium customers. Additionally, the successful launch of the Alpha Club enhances the hospitality experience on the Peninsula, showcasing MGM's ability to adapt to evolving customer preferences.

A highlight of MGM's cultural contributions was the residency show, Macau 2049, produced in collaboration with renowned director Zhang Yimou. This show was recognized with the Weibo Cultural Tourism IP Award, reflecting MGM's commitment to enriching local culture and attracting global audiences. Since its debut, Macau 2049 has drawn significant international attention, with over 30% of attendees coming from abroad, successfully promoting traditional Chinese culture on a global stage.

Celebrating another achievement, the POLY MGM MUSEUM at MGM MACAU welcomed its one-millionth visitor in November 2025. The museum's curated exhibitions, such as The Maritime Silk Road, have gained accolades including the International and Hong Kong, Macao, Taiwan Cooperation Award. Currently, the museum is showcasing Silk Roads Beyond Borders, an exhibition journeying through the history of the Silk Road with engaging storytelling and innovative presentation.

Future Outlook

CEO Kenneth Feng expressed optimism regarding MGM China's future, noting solid market performance and high growth across different segments. To further strengthen its offerings, MGM COTAI is set to convert traditional rooms into approximately 60 additional luxurious suites, solidifying its status as the premium choice for visitors in Macau.

In alignment with the Macau Government's vision for a diversified tourist destination, MGM China remains committed to enhancing quality experiences for its visitors. As Macau continues to draw more non-gaming events, there is growing confidence that these developments will ensure sustainable growth for both the company and the city.

Conclusion

As MGM China continues to surpass significant benchmarks in the gaming and hospitality sectors, it stands as a testament to both the resilience of Macau's tourism industry and the effective strategies implemented by MGM China Holdings. With a clear focus on luxury, customer satisfaction, and cultural enrichment, the company is poised for continued success in the years ahead.