MGM China Holdings Limited (SEHK:2282) released selected unaudited financial data for the three months and nine months ended September 30, 2026, on October 28, 2026, reporting record third-quarter revenue and adjusted EBITDA.

Key Highlights

  • Record Q3 revenue: The Group reported revenue of approximately HK$8.9 billion for the three months ended September 30, 2026, a 5% year-on-year increase, described as an all-time high for any third-quarter period.
  • Record Q3 adjusted EBITDA: Adjusted EBITDA reached approximately HK$2.4 billion for the period, also described as an all-time third-quarter high.
  • Record market share: The Group's market share reached 17.1%, with MGM COTAI at 10.5% and MGM MACAU at 6.6%.
  • Property-level results: MGM COTAI generated revenue of approximately HK$5.4 billion and adjusted EBITDA of approximately HK$1.52 billion; MGM MACAU recorded revenue of approximately HK$3.5 billion and adjusted EBITDA of approximately HK$865 million.
  • Occupancy rate: Occupancy climbed to 94.1% during the period, up from 93.5% in the prior-year period.
  • Total liquidity: As of September 30, 2026, the Group held total liquidity of approximately HK$25.6 billion, comprising bank balances, cash, and an undrawn revolver.

MGM China Reports Third-Quarter 2026 Operating Performance and Financial Position

According to the filing, Macau's broader market saw daily gross gaming revenue ("GGR") of MOP655 million during the period, down 4% year-on-year, which the company attributed to "the temporary impact of the World Cup tournaments on the broader market." Despite this, MGM China disclosed that its own daily GGR surged 5% year-on-year and daily visitation across its properties rose 10% year-on-year, outperforming the wider industry. Mass GGR, including slot operations, also increased 5% year-on-year, according to the filing.

On a property basis, the filing reported that MGM COTAI generated revenue of approximately HK$5.4 billion for the period, compared with HK$5.1 billion in the same period of 2025, while adjusted EBITDA rose to approximately HK$1.52 billion from HK$1.46 billion. MGM MACAU recorded revenue of approximately HK$3.5 billion versus HK$3.4 billion in 2025, though its adjusted EBITDA decreased to approximately HK$865 million from HK$914 million in the prior-year period.

The filing also noted that following a suite conversion at MGM COTAI earlier in 2026, the Group has commenced a renovation of approximately 100 suites at MGM MACAU. Chief Executive Officer Kenneth Feng was quoted as saying the initiative will "further optimize our assets to enhance competitiveness and solidify the complementary positioning of our portfolio." The filing stated that property visitation during the October Golden Week holiday surged by 10% year-on-year, carrying positive momentum into the fourth quarter. The company noted that MGM China is majority owned by MGM Resorts International (NYSE:MGM).

What Was Disclosed

MGM China Holdings Limited (SEHK:2282) disclosed selected unaudited financial results for the three and nine months ended September 30, 2026, including record third-quarter revenue of approximately HK$8.9 billion, adjusted EBITDA of approximately HK$2.4 billion, and a record market share of 17.1%.