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<Research>CLSA: MGM CHINA's 2Q EBITDA Beats
Recommend 6 Positive 14 Negative 7 |
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MGM CHINA (02282.HK)'s 2Q25 property EBITDA leaped by 6% QoQ to HKD2.511 billion, 5-6% higher than market consensus and the broker's forecast, according to a CLSA report. This growth was primarily driven by an overall market expansion during the period, with the company's revenue market share increasing by 0.9 ppts QoQ to 16.6%. CLSA estimated VIP's above-usual win rate at MGM Cotai contributed around HKD86 million to EBITDA. The overall property EBITDA margin edged down to 29%, but still aligned with the company's target range of around 20%. AAStocks Financial News |
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