MGM China reaches record market share in Macau
The operator gained ground as Macau’s gaming market slowed, with MGM Cotai leading revenue growth in the third quarter.
Macau.- MGM China Holdings Limited has reported achieving a record 17.1 per cent market share in Macau and a nearly 5 per cent increase in net revenue to HKD893bn (US$1.14bn) in Q3. The results stand out against a softer overall gaming market, where average daily gross gaming revenue dropped around 4 per cent.
The company’s outperformance was primarily fuelled by higher win rates on its main gaming floors and strong growth in slot machine volume, which helped offset a slight drop in total chip play. Main-floor table win rates climbed across both of MGM’s properties, rising to 26.9 per cent at MGM Macau and 28.4 per cent at MGM Cotai. The combined main-floor table win reached HKD8.01bn (US$1.03bn), while slot machine revenue climbed more than 57.1 per cent to HKD872.7m (US$111.9m), led by an 88.2 per cent increase at MGM Cotai.
Revenue at the Cotai resort grew 6 per cent to HKD5.42bn (US$695m), with property-level adjusted EBITDA rising 4.4 per cent to HKD1.52bn (US$195m). Meanwhile, MGM Macau posted a modest revenue gain of 2.3 per cent to HKD3.47bn (US$445m), though its adjusted EBITDA contracted 5.4 per cent to HKD864.6m (US$110.8m).
Chief executive Kenneth Feng highlighted that growth continues to be driven by high-spending premium tourists, supported by ongoing venue enhancements. Following recent suite conversions at MGM Cotai, the operator has begun renovating around 100 suites at MGM Macau to strengthen its position among luxury travellers. Early metrics for the fourth quarter indicate sustained momentum, with customer visitation rising 10 per cent year-on-year during the October Golden Week national holiday.
