MGM China earnings rose in the third quarter of 2026, with revenue increasing 5% from a year earlier to approximately HK$8.9 billion and adjusted EBITDA reaching HK$2.4 billion. Both were records for a third quarter, the Macau casino operator said on October 29.

Key Takeaways

  • MGM China’s market share reached a record 17.1%, while daily gaming revenue at its properties rose 5%.
  • MGM COTAI’s adjusted EBITDA increased, but the measure declined at MGM MACAU.
  • The company has started renovating approximately 100 suites at MGM MACAU.

MGM China earnings and market share

The unaudited results cover the three months ended September 30, 2026. MGM China said MGM COTAI accounted for 10.5% of the Macau market and MGM MACAU for 6.6%. Its majority owner, MGM Resorts International, also reported the 17.1% share in its third-quarter results.

MGM China’s daily property visitation rose 10% year over year, and mass-market gross gaming revenue, including slots, increased 5%. Hotel occupancy climbed to 94.1% from 93.5% a year earlier.

ItemDetails
MGM COTAI revenueHK$5.4 billion in third-quarter 2026; HK$5.1 billion a year earlier
MGM COTAI adjusted EBITDAHK$1.52 billion; HK$1.46 billion a year earlier
MGM MACAU revenueHK$3.5 billion; HK$3.4 billion a year earlier
MGM MACAU adjusted EBITDAHK$865 million; HK$914 million a year earlier

Property performance and Macau tourism

Revenue increased at both properties, but their adjusted EBITDA performance diverged: it rose at MGM COTAI and fell at MGM MACAU.

Across Macau, average daily visitor arrivals rose 8% year over year to 122,139. Daily gross gaming revenue fell 4% to MOP655 million; MGM China attributed the decline to the temporary impact of the World Cup tournaments on the broader market.

Liquidity and renovations

MGM China had approximately HK$25.6 billion in liquidity as of September 30, consisting of bank balances, cash and an undrawn revolving credit facility.

Property visitation during October’s Golden Week holiday rose 10% from a year earlier. The MGM MACAU suite renovation follows a suite conversion at MGM COTAI earlier in 2026.

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