MGM Cotai posts 55% EBITDA surge in 4Q25, boosted by $785M in revenue

MGM Cotai posts 55% EBITDA surge in 4Q25, boosted by $785M in revenue | AGB

Summary

MGM Cotai delivered a standout fourth quarter, generating $785 million in revenue and recording a 55% year-on-year increase in adjusted EBITDA. The strong performance helped lift MGM China’s casino revenue from its Cotai hub by 23% to $1.08 billion in the quarter, even as growth on the Macau peninsula remained subdued. The bulletin also notes a small rise in licensed gaming promoters (junkets) and a rapid two-week deployment of PhilWeb’s Hann Online platform in the Philippines.

Key Points

MGM Cotai reported $785 million in revenue for 4Q25.
Adjusted EBITDA at MGM Cotai rose 55% year-on-year in 4Q25.
Group casino revenue from Cotai climbed 23% to $1.08 billion despite slower peninsula growth.
Licensed gaming promoters in Macau increased slightly but remain well below the quota.
PhilWeb launched the Hann Online platform in partnership with Hann Casino after a rapid two-week development and deployment period.

Context and relevance

This result highlights Cotai’s continued role as the engine of Macau’s recovery, especially driven by table-game and VIP demand. For operators and investors, the numbers suggest margin recovery as well as the resilience of high-value segments even when other areas (the peninsula) show slower growth.

Regulatory and operational signals — such as the modest rise in licensed junkets and rapid online platform rollouts in the region — are worth watching for anyone tracking market structure, compliance risk and digital expansion across Asia Pacific gaming markets.

Why should I read this

Short and sharp: if you follow Macau gaming, investor moves or competitor strategy, this is your headline. MGM Cotai’s big quarter says volumes and margins are back in the mix — and that shifts where money and attention go next. We read it so you don’t have to — but don’t sleep on the detail if you’re active in the market.