Good Morning. Macau, Macau, Macau. What a place. It never fails to excite, and it always brings you back even when you think it’s down. And for Melco, it’s been a particularly exciting quarter – with results exceeding expectations, leading the analysts to validate it for ‘doing the right things’. Looking at the competition, MGM China is also performing well, with results topping the charts as it eats away market share from other operators. And in the Philippines, the pressure is never over – the Senate now wants a probe into online gaming, furthering concerns over a potential shutdown of the sector.
What you need to know
- Melco is ‘doing all the right things’, according to analysis, as its second quarter results show strong Macau movement.
- Despite new competition, MGM China’s $313M 2Q25 EBITDA and 29% margin highlight prudent spending and strength, says Citigroup.
- Philippines Senate to launch probe on online gambling amid calls for total ban, despite lack of comment in SONA.
On the radar
- Casino Grandview closes; shutdown coordinated by Macau gaming regulator.
- PointsBet board rejects improved takeover bid from Betr, backs MIXI offer.
- Macau’s GDP grows 5.1% in 2Q25 on tourism and service recovery.
AGB Intelligence
MACAU
Melco shines in 2Q25 results
While its overseas portfolio is not impressing, Melco is delivering strong results back at home, with its second quarter shining brightly and commanding impressive EBITDA results. According to an analyst, the company is doing “all the right things’’, so hopes are for market share to either rise or remain stable – a tough thing in Macau’s highly competitive market.
Corporate Spotlight
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