written and last updated by
Sam Smith at
30 Oct 2025
Journalist, Editorial Department
MGM China has reported record financial results for the third quarter of 2025, achieving an all-time high in segment EBITDA and increasing its market share to 15.5%. The company's net revenue for the period reached $1.08 billion (₽85.83 billion), marking a 17% increase compared to the previous year.
The primary driver of this growth was the performance of its land-based casinos. The volume of bets at gaming tables rose by 18%, reaching $4.07 billion (₽323.44 billion). Overall casino revenue also increased by 18%, totaling $947 million (₽75.26 billion). The adjusted segment EBITDA climbed to $283.99 million (₽22.57 billion).
Notably, the MGM Cotai resort demonstrated particularly strong growth. The turnover for VIP tables at this venue surged to HK$21.69 billion (₽222.32 billion), with the average win per table reaching HK$204.7 million (₽2.1 billion). In percentage terms, the win margin from VIP players increased from 3.3% to 4.4%. Total revenue for MGM Cotai rose to HK$5.11 billion (₽52.38 billion), while adjusted EBITDA reached HK$1.45 billion (₽14.86 billion).
MGM Macau on the peninsula also showed healthy performance, with revenue climbing to HK$3.39 billion (₽34.75 billion), allowing for an increase in adjusted EBITDA to HK$914.43 million (₽9.37 billion).
In contrast to MGM Cotai, the volume of VIP gaming at MGM Macau saw a slight decline. The turnover for high-limit tables decreased to HK$6.08 billion (₽62.32 billion), with the average win per table at HK$118.26 million (₽1.21 billion). However, this decline was offset by strong performance at the main gaming floors, where the volume of bets increased to HK$14.47 billion (₽148.32 billion).
It is worth noting that MGM China had previously reported double-digit growth in net revenue for 2024.
