MGM China reported better-than-expected financial results for the fourth quarter of 2025, with both revenue and earnings exceeding analyst forecasts, according to a research note from Jefferies.
The investment bank said adjusted EBITDA before corporate expenses was 5 percent above its estimates, while sales were 3 percent higher than expected.
In results ‘inadvertently posted’ after market close on Tuesday, MGM Resorts International reported that its Macau unit delivered stronger-than-anticipated performance. MGM China posted net revenue of $1.23 billion in the fourth quarter, representing a year-on-year increase of 21.4 percent. Adjusted EBITDA before corporate expenses reached $332.29 million, up 30 percent from a year earlier.
Analysts Anne Ling and Jingjue Pei noted that net revenue and adjusted EBITDA were 3 percent and 5 percent higher compared with Jefferies’ forecasts, respectively, reflecting solid operating momentum toward the end of the year.
MGM China’s trading was suspended on Wednesday at 9am, as the results were released earlier than the previously scheduled February 12th announcement. In a note, MGM China indicated trading resumed at 1pm on February 5th (HK time).
The full operational data and details on payouts are expected to be released on February 6th, Hong Kong time, ahead of MGM Resorts’ earnings call scheduled for 6am.
The bank added that investor attention is likely to focus on expectations for the Chinese New Year period, developments in the competitive landscape, and the company’s dividend policy.
