📈 MGM China grows, but margins tighten

MGM China posted a solid 1Q26, with revenue up 9.7% year-on-year to HK$8.77 billion and Adjusted EBITDA rising 3.8% to HK$2.46 billion, according to ASGAM. 📊 Yet profitability came under pressure as a higher branding fee linked to the MGM name weighed on the bottom line. For operators, it is a clear reminder that revenue growth does not always flow through to profit. 💡 In Macau’s competitive recovery phase, cost structures and brand agreements matter just as much as casino floor performance. 🎰