MGM China Hits Record Market Share in Macau in Third Quarter

MGM China reached its highest market share in company history in the third quarter of 2026, capturing 17.1% of Macau's gaming market. Combined revenue from its two hotels rose 5% year on year to about HK$8.9 billion. Adjusted EBITDA reached about HK$2.4 billion. According to the company, both revenue and adjusted EBITDA were the highest for any third quarter in its history.

The market as a whole was weaker. Average daily gross gaming revenue fell 4% year on year to MOP655 million. The company attributed this to the temporary impact of the World Cup. Meanwhile, MGM China's daily gaming revenue rose 5%, and daily visits to its properties increased 10%.

MGM Cotai generated about HK$5.4 billion in revenue, and its adjusted EBITDA reached HK$1.52 billion. MGM Macau on the Macau Peninsula saw revenue rise to HK$3.5 billion, but its adjusted EBITDA fell to HK$865 million. Hotel occupancy reached 94.1%. The company has begun renovating about 100 suites at MGM Macau. CEO Kenneth Feng said the premium segment continues to drive growth.

According to CreditSights, profit outpaced revenue. The firm estimates EBITDA rose only about 1%, and its margin fell to 26.8%. Management continues to aim to keep its margin in the mid to high 20s percent range. At the end of September, the company had about HK$25.6 billion in liquidity. No statement has yet been made about the US dollar bond maturing in February 2027. The company said momentum would continue into the fourth quarter. Visits to its Macau properties rose 10% during the Golden Week holiday.