MGM China Reports 2026 Interim Financial Data
Rhea-AI Summary
MGM China (HKEx: 2282, majority-owned by NYSE: MGM) reported selected unaudited results for the six months ended June 30, 2026. Net revenue reached a record HK$17.4 billion, up from HK$16.7 billion, while adjusted EBITDA was HK$4.8 billion, slightly below HK$4.9 billion a year earlier.
Macau’s recovery supported performance: citywide daily visitation rose 9% and GGR 7% year-on-year. MGM China’s daily GGR increased 5% to MOP111 million, with property visitation up 7%. The Group’s market share was about 15.9% (MGM COTAI 9.7%, MGM MACAU 6.2%), with average occupancy of 93.5%. Total liquidity stood at HK$24.7 billion.
MGM COTAI completed a suite conversion, adding nearly 60 Prime Wellness Suites, and MGM MACAU opened Chatterbox Café. MGM China received seven Forbes Travel Guide Five-Star Awards. The Group also agreed to acquire MGM Asia Pacific Limited, which owns MGM Hospitality, managing eight hotels and over 12 projects across Mainland China, and providing access to more than 1.5 million Mlife members. Renovation of about 100 suites at MGM MACAU is planned to further refine property positioning.
Positive
- Record net revenue of HK$17.4 billion vs HK$16.7 billion
- Daily GGR up 5% YoY to MOP111 million
- Macau market share maintained at approximately 15.9%
- Strong liquidity of about HK$24.7 billion as of June 30, 2026
- Acquisition adds 8 hotels and 12+ projects via MGM Hospitality
- Access to over 1.5 million Mlife loyalty members through MGM Hospitality
Negative
- Adjusted EBITDA slightly lower at HK$4.8B vs HK$4.9B prior period
- VIP win rate declined to 2.6% from 3.5%, impacting performance
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 28 | BetMGM business update | Negative | -0.2% | Lower adjusted EBITDA and guidance expected toward the lower end |
| Jul 27 | Promotional partnership | Positive | +1.7% | BetMGM and Marriott relaunched a Las Vegas fantasy football sweepstakes |
| Jul 14 | Conference call notice | Neutral | -1.2% | BetMGM scheduled its second-quarter business update and webcast |
| Jun 26 | Earnings date notice | Neutral | +4.2% | MGM scheduled its second-quarter earnings release after market close |
| Jun 23 | MLB partnership renewal | Positive | +0.8% | MGM and BetMGM renewed multi-year Major League Baseball partnerships |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Across five recent events, MGM showed three aligned and two divergent price reactions; the record did not establish a single direction for news response.
Key Terms
gross gaming revenue financial
adjusted ebitda financial
undrawn revolver financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenue Rose to Record High
Solid Market Share of
The Group is encouraged by
- MGM China saw property visitation during the Period up by
7% from last year.
- MGM China's daily GGR in the first half of 2026 grew by
5% year-on-year to MOP111 million, compared to MOP106 million last year.
- Net revenue for the Group reached historical high at
HK for the Period, compared with$17.4 billion HK in the corresponding period last year. The Group reported adjusted EBITDA of$16.7 billion HK , compared with$4.8 billion HK in the corresponding period last year.$4.9 billion
- The Group maintained a solid market share of approximately
15.9% during the Period. This performance was partly affected by a lower VIP win rate (2026:2.6% vs 2025:3.5% ). MGM COTAI accounted for approximately9.7% of the market, while MGMMACAU accounted for approximately6.2% .
- Average occupancy was
93.5% for the Period.
- The Group maintained a healthy financial position. As of June 30, 2026, the Group had total liquidity of approximately
HK , comprised of Bank balances and cash and undrawn revolver.$24.7 billion
During the Period, the Group continued to optimize its assets to enhance competitiveness and drive future growth. MGM COTAI completed the suite conversion project during the Period, with nearly 60 Prime Wellness Suites launched. The new suites have been well received by guests, reflecting the Group's commitment to evolving with changing customer preferences and wellness trends.
At MGM
During the Period, MGM China earned seven Forbes Travel Guide Five-Star Awards, reaffirming its commitment to exceptional guest experiences. MGM
In June, MGM China announced the acquisition of MGM Asia Pacific Limited, a
Through the acquisition, MGM China will leverage the 19 years of operating experience, brand platform and established relationship network developed by MGM Hospitality. MGM Hospitality currently manages eight operating hotels, has more than 12 active projects under development across various cities in Mainland China, and provides access to over 1.5 million Mlife loyalty program members.
The eight operating hotels include:
- Bellagio by MGM Shanghai
- MGM Shanghai West Bund
- MGM Grand Sanya
- Mhub by MGM Nanjing Jiangning
- MGM Reserve Qingdao
- MGM Qingdao
- MGM Reserve Zhuhai
- MGM Shenzhen
Kenneth Feng, Chief Executive Officer of MGM China said: "This acquisition represents a strategic opportunity for MGM China to strengthen its strategic and operational oversight of MGM Hospitality. We are confident that it will create meaningful synergies that enhance our competitive edge and support the Group's sustainable growth."
Following the suite conversion at MGM COTAI earlier this year, the Group will commence renovations of approximately 100 suites at MGM
"MGM China is dedicated to improving our products and service levels, while delivering compelling experiences for guests. We are committed to supporting
- End -
About MGM China Holdings Limited
MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the
MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
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SOURCE MGM China