MGM China has entered 2026 with strong operational momentum, led by an exceptional fourth quarter performance at MGM Cotai and reinforced by bullish expectations for the Chinese New Year holiday period, according to company management and recent financial disclosures.

MGM Cotai Shines in 4Q25

MGM Cotai emerged as the standout performer in the fourth quarter of 2025, with property revenue surging 34% year-on-year to US$786 million, driven by robust visitation, improved gaming volumes, and sustained demand in the premium mass segment. The strong showing underscores the resort’s growing appeal as Macau’s recovery continues to shift toward higher-quality tourism and entertainment-driven visitation.

Analysts noted that MGM Cotai’s performance reflects a combination of operational efficiency, effective marketing, and a balanced customer mix — particularly in premium mass, which remains a key profit engine for Macau operators amid tighter VIP regulations.

Premium Mass Strategy Paying Off

MGM China has consistently emphasised premium mass as a core growth pillar, a strategy that has insulated the company from the volatility traditionally associated with VIP junket play. The 4Q results suggest this approach is gaining traction, with increased table productivity and stronger non-gaming spend per visitor contributing to overall revenue growth.

Industry observers also point out that MGM Cotai’s design, entertainment offerings, and food & beverage portfolio position it well to capture extended-stay visitors — a segment increasingly favoured by Macau policymakers.

Management “Very, Very Optimistic” for CNY

Building on the strong fourth quarter, MGM China CEO Kenneth Feng struck a confident tone ahead of the Chinese New Year holiday, describing management as “very, very optimistic” about visitation levels and gaming performance during one of Macau’s most critical peak periods.

According to Feng, early booking trends, hotel occupancy, and customer enquiries point to sustained demand from mainland China, with travel sentiment supported by improved transportation links, relaxed travel behaviour, and a growing appetite for premium leisure experiences.

Chinese New Year as a Key Barometer

Chinese New Year remains a crucial indicator for Macau’s annual performance, often setting the tone for the first half of the year. Strong CNY results could further validate MGM China’s strategic positioning and reinforce investor confidence following a year marked by improving margins and disciplined cost management.

Market watchers note that while competition among concessionaires remains intense, MGM China’s focus on yield over volume — particularly at MGM Cotai — may allow it to outperform peers on profitability rather than headline revenue alone.

Outlook: Confidence Backed by Execution

Taken together, MGM Cotai’s standout 4Q25 performance and management’s upbeat Chinese New Year outlook suggest MGM China is entering 2026 from a position of strength. With premium mass demand holding firm and holiday travel momentum building, the operator appears well-placed to capture upside from Macau’s ongoing recovery — even as regulatory and competitive pressures persist.