UBS Group quoted the management as saying that the business remained strong in July, with an EBITDA profit margin of 27-29%, and the market share remained at around 15%.
According to the report released by UBS, MGM China (02282) adjusted property EBITDA fell 2% compared to the previous quarter, but still reached about 168% of the same period in 2019. After adjusting for VIP win rates, the EBITDA was 0.317 billion US dollars, which exceeded the market and the bank's expectations, mainly due to higher-than-expected revenue from mid-field gaming tables. UBS maintained a "buy" rating for MGM China with a target price of HKD 16.2.
UBS quoted management as saying that business remained strong in July, with an EBITDA profit margin of 27-29%, and the market share remained at around 15%. The occupancy rate also remained stable compared to the second quarter, and it is expected to add 90 to 100 new suites and villas from 2025 to 2026. As for investment opportunities in Thailand, the management said it would be promoted through MGM China rather than the parent company.