{"id":777039309,"date":"2026-03-18T07:59:46","date_gmt":"2026-03-18T10:59:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777039309"},"modified":"2026-04-21T13:24:57","modified_gmt":"2026-04-21T16:24:57","slug":"fitch-affirms-mgm-resorts-rating-at-bb","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/fitch-affirms-mgm-resorts-rating-at-bb","title":{"rendered":"Fitch affirms MGM Resorts rating at BB-"},"content":{"rendered":"\n

The ratings agency expects MGM China to enter a more stable phase.<\/p>\n\n\n\n\n\n\n\n

Macau.- Fitch Ratings has affirmed the issuer default rating of MGM Resorts International at \u201cBB-\u201d<\/strong> with a stable outlook. It said the company\u2019s Macau operations are expected to move into a more stable growth phase after the post-pandemic rebound in the market.<\/p>\n\n\n\n

According to the agency, the rating reflects MGM Resorts\u2019 scale, diversification and strong competitive position, as well as a robust liquidity profile and a financial policy it sees as relatively conservative. These strengths are partly offset by the company\u2019s development pipeline, exposure to volatility in high-end gaming segments and increasing operating costs. the agency said.<\/p>\n\n\n\n

Macau remains a key contributor to the group\u2019s earnings. The company\u2019s subsidiary, MGM China Holdings<\/strong>, operates the integrated resorts MGM Macau and MGM Cotai<\/a>. In 2025, the unit generated adjusted EBITDAR of approximately US$1.20bn, representing an increase of about 10.7 per cent year-on-year.<\/p>\n\n\n\n

Fitch said the operator has performed well despite economic uncertainty in mainland China and an increasingly competitive promotional environment. Looking ahead, the agency expects growth in Macau to become \u201csteadier\u201d compared with the recovery phase following the reopening of travel in the region.<\/p>\n\n\n\n

This is expected to allow MGM China to deliver stable cash flow <\/strong>to its parent company through distributions and branding fees. A new long-term branding agreement between MGM Resorts and its Macau subsidiary took effect on January 1, increasing the licensing fee paid by MGM China for the use of the MGM brand.<\/p>\n\n\n\n


<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Fitch Ratings maintains Macau AA rating<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The ratings agency expects MGM China to enter a more stable phase.<\/p>\n","protected":false},"author":226,"featured_media":777033942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Fitch Ratings has affirmed MGM Resorts International's \"BB-\" issuer default rating with a stable outlook, driven by the anticipated stabilization and steady growth of its Macau operations, MGM China. This positive assessment reflects MGM's scale, diversification, and competitive position, despite challenges like high-end gaming volatility and rising operating costs. The agency expects MGM China to deliver stable cash flow to its parent, partly through an increased branding fee agreement.","focusai_entities":"Fitch Ratings, MGM Resorts International, MGM China Holdings, MGM Macau, MGM Cotai","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Market Outlook","query":"What specific macroeconomic indicators or policy shifts in mainland China could disrupt the projected 'stable growth phase' for Macau's gaming market, particularly impacting high-end segments?"},{"label":"MGM China Capital Allocation","query":"How might the increased branding fee agreement between MGM Resorts and MGM China impact MGM China's free cash flow generation and its capacity for future capital expenditures or shareholder distributions, beyond the parent company?"}],"footnotes":""},"categories":[16338,163],"tags":[17703,257,1618,16615],"class_list":["post-777039309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-fitch-ratings","tag-macau","tag-mgm-china","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777039309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777039309"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777039309\/revisions"}],"predecessor-version":[{"id":777039322,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777039309\/revisions\/777039322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777033942"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777039309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777039309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777039309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}