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MGM China CEO Feng Xiaofeng stated at the Asian International Entertainment Expo that the company's market share in Macau has increased from under 10% to over 16% post-pandemic. This growth is attributed to a deep understanding of customer preferences and enhancements to their integrated resorts, rather than just expanding high-end suite offerings. The revenue potential of their suite products is significantly higher than standard hotel rooms, contributing to their success in the market.

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MGM CHINA

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MGM CHINA N2605

MGM CHINA  Feng Xiaofeng: Market Share Gains Driven by Deep Understanding of Customer Preferences

MGM China Holdings has announced a purchase agreement to issue US$750 million in 6.250% senior notes due May 15, 2033. The proceeds, approximately US$739.9 million, will primarily be used to repay amounts under the company's revolving credit facility and for general corporate purposes. The transaction aims to optimize MGM China's capital structure by converting part of its bank borrowings into longer-dated bond financing. The completion of the notes issuance is subject to market and regulatory uncertainties. The current analyst rating for MGM China stock is a Hold with a price target of HK$13.20.

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MGM China to Issue US$750 Million in Senior Notes for Debt Refinancing

CICC reported that MGM CHINAachieved a net revenue of HKD8.767 billion in Q1, a 10% YoY increase but a 9% QoQ decrease, recovering to 152% of Q1 2019 levels. Adjusted EBITDA was HKD2.458 billion, up 4% YoY and down 11% QoQ, surpassing expectations of HKD2.35 billion. The broker maintained its EBITDA forecasts for 2026 and 2027, keeping an Outperform rating with a target price of HKD16.1.

CICC

CICC: MGM CHINA  1Q Adjusted EBITDA Beats Expectations

JPMorgan reported that MGM Chinaexceeded 1Q EBITDA forecasts by 5%, reaching HKD2.6 billion, a 13% YoY increase. Despite this, the stock has dropped 22% in six months due to a license fee hike and a disappointing dividend policy. JPM maintains a Neutral rating with a target price of HKD13.2, noting attractive valuation metrics and a forecast dividend yield over 5% for 2026.

MGM Resorts

JPM: MGM CHINA  1Q EBITDA 5% Above Market Forecast, Rated Neutral

CICC has reaffirmed its Buy rating for MGM China Holdings (MCHVF), setting a price target of HK$16.10, while the shares closed at HK$11.68. The analyst consensus indicates a Moderate Buy with an average target of HK$16.21, suggesting a potential upside of 38.82%. Jefferies also maintains a Buy rating with a target of HK$16.40.

Jefferies Financial

CICC Sticks to Its Buy Rating for MGM China Holdings (MCHVF)

MGM CHINA reported a 10% year-on-year increase in net revenue for Q1 2026, reaching HKD 8.8 billion, with adjusted EBITDA rising 4% to HKD 2.5 billion. Revenue from MGM COTAI grew 10% to HKD 5.3 billion, while MGM MACAU saw a 9% increase to HKD 3.4 billion. The overall GGR market share was 15.4%. The average hotel occupancy rate was 93.9%. As of March 31, 2026, the Group had total liquidity of approximately HKD 25 billion.

MGM CHINA  1Q26 Net Revenue Up 10% YoY to HKD8.8B; Adj. EBITDA Rises 4% YoY to HKD2.5B

CLSA reported that MGM Chinaexceeded expectations with a 4% YoY increase in 1Q property EBITDA, reaching HKD2.458 billion, which is 5% to 6% above market forecasts. The property EBITDA margin narrowed to 28%, but remains within the expected range. Despite a dip in VIP win rates in February, shares rebounded in March and April. CLSA maintains an Outperform rating with a target price of HKD19.2, noting a projected dividend yield of 5.6%.

CLSA: MGM CHINA  1Q Property EBITDA Beats Expectations

MGM China Holdings Limited reported a 10% rise in adjusted EBITDA for FY 2025, reaching HK$10 billion, with net revenue increasing 11% to HK$34.8 billion. The company noted a record 40 million visitors to Macau in 2025, up from 34.9 million in 2024. Average daily visitation rose 15% to 109,779. As of 10:21 AM GMT+8, MGM China shares traded at HK$12.82, down HK$0.50 or 3.75% on the Hong Kong Stock Exchange.

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MGM China Holdings FY Adj. EBITDA Rises

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MGM China Holdings Limited reported record financial results for 2025, with net revenue increasing by 11% to HK$34.8 billion and adjusted EBITDA rising by 10% to HK$10 billion. The company achieved a market share of 16.1%, up from 15.8% in 2024, driven by a 14% increase in property visitation. Macau welcomed approximately 40 million visitors, contributing to a 9% growth in gross gaming revenue. MGM China continues to enhance its offerings, including the introduction of Alpha Villas and the successful residency show "Macau 2049."

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MGM China Reports 2025 Annual Results | MGM Stock News

MGM CHINA N3106(05036.HK)

MGM CHINA Feng Xiaofeng: Market Share Gains Driven by Deep Understanding of Customer Preferences

MGM China to Issue US$750 Million in Senior Notes for Debt Refinancing

CICC: MGM CHINA 1Q Adjusted EBITDA Beats Expectations

JPM: MGM CHINA 1Q EBITDA 5% Above Market Forecast, Rated Neutral

CICC Sticks to Its Buy Rating for MGM China Holdings (MCHVF)

MGM CHINA 1Q26 Net Revenue Up 10% YoY to HKD8.8B; Adj. EBITDA Rises 4% YoY to HKD2.5B

CLSA: MGM CHINA 1Q Property EBITDA Beats Expectations

MGM China Holdings FY Adj. EBITDA Rises

MGM China Reports 2025 Annual Results | MGM Stock News