Understanding the Market | MGM CHINA rose over 4%, with adjusted EBITDA for the third quarter increasing by 19.6% year-on-year, driven by high-end demand

MGM China rose over 4%, and as of the time of writing, it increased by 3.83%, reaching HKD 15.45, with a transaction volume of HKD 19.9068 million. In terms of news, recently, MGM China announced its Q3 2025 performance, with total revenue of approximately HKD 8.51 billion, a year-on-year increase of 17.39%, mainly due to the increase in betting amounts at its main gaming tables. The adjusted EBITDA was approximately HKD 2.373 billion, a year-on-year increase of 19.6%. China International Capital Corporation (CICC) released a research report stating that MGM China's Q3 2025 performance was better than market consensus expectations; driven by high-end demand, the company's business performed strongly, with MGM Macau and MGM China’s total gaming revenue recovering to 170% and 104% of Q3 2019, respectively. The firm pointed out that given the strong performance of market share in gaming revenue in October 2025, management expects MGM China to achieve over USD 100 million in EBITDA, likely setting a historical high for monthly revenue and EBITDA data