The company reported earnings before interest, taxes, depreciation, amortization, and restructuring or rental costs (EBITDAR) of 2.37 billion Hong Kong dollars (approximately 264.1 million euros) from July to September.
In the same period last year, MGM China recorded net profits of 1.98 billion Hong Kong dollars (220.6 million euros), already the highest value for a third quarter.
The operator ended 2024 with a record profit of 9.06 billion Hong Kong dollars (1 billion euros) for the second consecutive year, following three years of losses due to the COVID-19 pandemic.
The increase in profits in the third quarter of 2025 was due to a 17.4% rise in revenues, reaching 8.51 billion Hong Kong dollars (948.3 million euros), from the two hotel-casinos operated by MGM China in Macau.
In a statement, the parent company of MGM China, the American MGM Resorts International, emphasized that the revenues also reached their highest level for a third quarter.
The MGM Macau and MGM Cotai casinos recorded revenues of 7.87 billion Hong Kong dollars (876.1 million euros), up 17.6% year-on-year, in the mass segment, which caters to small bettors who do not request credit.
Conversely, the VIP baccarat gaming segment reported revenues of 1.07 billion Hong Kong dollars (119.2 million euros), despite a 47.4% increase.
The high-stakes betting, which in 2019 accounted for 46.2% of Macau casinos’ revenues, was impacted by the arrest of the leader of the world’s largest VIP betting solicitation company in November 2021.
Former CEO of Suncity Alvin Chau Cheok Wa was sentenced in January 2023 to 18 years in prison for illegal gambling operations and secret society involvement, in a case that reduced the number of gaming promoter licenses issued in Macau from 85 to 18.
According to gaming news portal GGRAsia, during a conference call with analysts, MGM China’s President, 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 concessions, MGM, Galaxy, Venetian, Melco, Wynn, and SJM, operate in Macau, the only place in China where casino gaming is legal, currently under 10-year licenses effective from January 1, 2023.
The region’s casinos started 2025 with total revenues of 181.3 billion patacas (19.6 billion euros), 7.1% more than the same period in 2024 and 82.3% of the total for the first nine months of 2019, before the pandemic.
