MGM’s revenue, adjusted EBITDA and market share continued to grow to all-time high
MGM China saw record growth in various business segments in 2025 with revenues up by 11 per cent year-on-year to HK$34.8 bn in 2025. Property visitation increased by 14 per cent year-on-year and daily GGR was up 11 per cent.
Adjusted EBITDA also grew by 10 per cent to a historical high of HK$10bn in 2025. The group maintained adjusted EBITDA margin at 28.8 per cent with a mass-focused business and sustaining operational efficiency. MGM China saw market share at new high of 16.1 per cent, further climbed from 15.8 per cent in 2024. MGM Cotai market share was 10.1 per cent and MGM Macau was six per cent.
The group was pleased to see Macau as a whole continuing to grow in 2025. The city welcomed a record visitation of approximately 40m in 2025, up from 34.9m in 2024. Daily visitation was up 15 per cent to 109,779.
Gross gaming revenue (GGR) also continued to grow last year. Full-year industry GGR was up nine per cent year-on-year to approximately MOP247 billion or daily MOP678 million in 2025, representing 85 per cent of 2019.
Kenneth Feng, Chief Executive Officer of MGM China, said: “We are excited to see MGM China being a solid outperformer in the market, ending the year with record-high growth across various business segments. We are proud to have maintained solid marketshare of over 16 per cent for the full year, as our operating team continues to command a strong understanding and relationship with the premium customer driving the market.”
“Following the launch of Alpha Villas, MGM COTAI has begun converting rooms into approximately 60 new suites, further strengthening the complementary positioning of our properties – with MGM MACAU as the leading property on the Peninsula and MGM COTAI as the preferred destination for premium customers.”
“We are committed to creating quality experiences for our visitors, aligning our offerings with the Macau Government’s vision to develop the city into a global and diversified tourist destination. With more non-gaming and entertainment events taking place across Macau, we believe people will have even more reasons to visit, driving long-term and sustainable growth for the city,” added Feng.
MGM continues its hospitality legacy with seven five-star awards by Forbes Travel Guide 2025, featuring the team’s dedication to delivering exceptional experiences.
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MGM’s revenue, adjusted EBITDA and market share continued to grow to all-time high MGM China saw record growth in various business segments in 2025 with revenues up by 11 per cent year-on-year to HK$34.8 bn in 2025. Property visitation increased by 14 per cent year-on-year and daily GGR was up 11 per cent. Adjusted EBITDA also grew…
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