MGM China generated record quarterly revenue in the three months to 30 September as its share of Macau's gaming market reached a company high of 17.1%. Revenue rose 5% year on year to about US$1.1 billion, or HK$8.93 billion, according to MGM Resorts International's third-quarter release.
The top-line record did not translate into higher operating earnings. Segment adjusted EBITDAR fell 7% from US$284 million to US$264 million. MGM said an additional US$22 million in intercompany branding licence expense weighed on the comparison with the same quarter of 2025.
Gaming hold was an important part of the revenue outcome. Main-floor table games drop declined 10% to US$3.68 billion, but the win rate increased from 24.7% to 27.7%. That lifted main-floor table win by 1% to US$1.02 billion. Casino revenue increased 4% to US$981 million. The figures show that the quarterly growth depended partly on a more favourable conversion of wagering volume into gaming revenue.
The property-level breakdown reported by Inside Asian Gaming shows MGM Cotai revenue rising 6% to HK$5.42 billion. At MGM Macau, mass-table win grew despite a double-digit decline in table drop as the win percentage improved to 26.9%. Slot win also increased at both properties.
MGM China's result contrasted with the parent group's softer quarter. MGM Resorts' consolidated revenue slipped 1% to US$4.2 billion and adjusted EBITDA declined to US$403 million from US$506 million. The Macau unit therefore supplied revenue growth, although the lower EBITDAR and unusually strong hold make the quality of that growth important to watch in subsequent quarters.
