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MGM China Holdings
(2282)
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Rating:64Neutral
Price Target:
HK$9.50
▼(-6.22% Downside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by improved profitability and strong free-cash-flow generation, supported by an attractive P/E and dividend yield. Offsetting these positives are elevated leverage and a sharp 2025 revenue decline, while technical indicators are broadly neutral with a weaker longer-term trend.
Positive Factors
Improved Profitability
The return to strong profitability after the 2020–2022 loss period shows materially improved operating economics. Healthy gross, EBIT, and net margins provide a stronger earnings base and can support reinvestment, debt servicing, and shareholder distributions over the next several quarters.
Negative Factors
High Leverage
High debt relative to equity leaves MGM China with a limited balance-sheet cushion if operating conditions weaken. Leverage can constrain capital allocation, increase sensitivity to cash-flow volatility, and make debt reduction an important priority for sustaining financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
The return to strong profitability after the 2020–2022 loss period shows materially improved operating economics. Healthy gross, EBIT, and net margins provide a stronger earnings base and can support reinvestment, debt servicing, and shareholder distributions over the next several quarters.
Read all positive factors
MGM China Holdings (2282) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$33.90B
Dividend Yield6.76%
Average Volume (3M)4.54M
Price to Earnings (P/E)7.4
Beta (1Y)0.59
Revenue Growth11.01%
EPS Growth6.83%
CountryHK
Employees13,900
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)1.20
Shares Outstanding3,800,000,700
10 Day Avg. Volume3,259,714
30 Day Avg. Volume4,536,818
Financial Highlights & Ratios
PEG Ratio0.99
Price to Book (P/B)15.41
Price to Sales (P/S)1.44
P/FCF Ratio6.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$14.01Price Target Upside38.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)1.09
Revenue Forecast (FY)HK$35.21B
MGM China Holdings Business Overview & Revenue Model
Company Description
MGM China Holdings Limited functions as an investment holding firm dedicated to the development, ownership, and management of gaming and hospitality complexes throughout the Greater China region. The company's core activities encompass the operati...
How the Company Makes Money
MGM China primarily generates revenue from operating its Macau integrated resorts, with earnings driven by a mix of gaming and non-gaming activities. The largest revenue stream is typically casino gaming, which includes table games (both VIP and m...
MGM China Holdings Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
39
Negative
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.72B | 34.79B | 31.39B | 24.68B | 5.27B | 9.41B |
| Gross Profit | 19.39B | 27.84B | 11.87B | 19.67B | -419.99M | 1.58B |
| EBITDA | 8.42B | 8.89B | 8.17B | 6.45B | -1.52B | -287.02M |
| Net Income | 4.59B | 5.07B | 4.60B | 2.64B | -5.23B | -3.85B |
Balance Sheet | ||||||
| Total Assets | 28.87B | 29.67B | 30.60B | 29.18B | 31.21B | 28.44B |
| Cash, Cash Equivalents and Short-Term Investments | 4.03B | 4.40B | 5.32B | 4.23B | 6.71B | 3.11B |
| Total Debt | 18.18B | 19.17B | 23.15B | 24.30B | 32.92B | 24.15B |
| Total Liabilities | 25.05B | 26.43B | 30.08B | 30.51B | 35.21B | 27.24B |
| Stockholders Equity | 3.82B | 3.25B | 527.53M | -1.33B | -4.00B | 1.20B |
Cash Flow | ||||||
| Free Cash Flow | 5.36B | 7.17B | 5.52B | 7.91B | -2.41B | -977.32M |
| Operating Cash Flow | 6.65B | 8.74B | 6.72B | 8.27B | -2.11B | -449.61M |
| Investing Cash Flow | -1.40B | -1.64B | -1.52B | -124.64M | -1.32B | -518.49M |
| Financing Cash Flow | -6.73B | -8.09B | -5.66B | -10.62B | 7.04B | 1.44B |
MGM China Holdings Technical Analysis
Negative
10.13
Price Trends
9.76
Negative
9.97
Negative
10.63
Negative
Market Momentum
-0.18
Positive
35.67
Neutral
8.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2282, the sentiment is Negative. The current price of 10.13 is above the 20-day moving average (MA) of 9.44, above the 50-day MA of 9.76, and below the 200-day MA of 10.63, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 35.67 is Neutral, neither overbought nor oversold. The STOCH value of 8.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2282.
MGM China Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$136.13B | 12.69 | 12.77% | 5.47% | 8.39% | 11.34% | |
64 Neutral | HK$33.90B | 7.43 | 129.87% | 6.76% | 11.01% | 6.83% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | HK$23.86B | 7.89 | -22.18% | 9.90% | 9.38% | 60.07% | |
59 Neutral | HK$84.82B | 12.35 | 65.49% | 9.54% | 8.73% | -3.66% | |
52 Neutral | HK$5.12B | 4.90 | 52.47% | 0.66% | 6.61% | ― | |
44 Neutral | HK$8.10B | -14.94 | -4.07% | 3.09% | -16.41% | -3217.39% |
* Consumer Cyclical Sector Average
HK:2282
MGM China Holdings
8.92
-5.13
-36.51%
HK:0880
SJM Holdings
1.14
-1.69
-59.72%
HK:0200
Melco International
2.26
-2.42
-51.71%
HK:0027
Galaxy Entertainment Group
31.10
-5.72
-15.53%
HK:1928
Sands China
10.48
-8.35
-44.35%
HK:1128
Wynn Macau
4.50
-1.60
-26.27%
MGM China Holdings Corporate Events
MGM China Warns on Comparability of Financial Data in Parent’s Q3 Results
Oct 28, 2026
MGM China Holdings has informed investors that its controlling shareholder, MGM Resorts International, has released unaudited third-quarter 2026 results in the United States that include financial information about MGM China. The disclosure, made ...
MGM China flags parent’s Q3 Form 10-Q and cautions investors
Oct 28, 2026
MGM China has informed investors that its controlling shareholder, MGM Resorts International, has released an unaudited Form 10-Q quarterly report for the third quarter and nine months ended September 30, 2026. The filing, made with the U.S. Secur...
MGM China Commits MOP1.24 Billion to Macau Government Diversification Fund
Oct 23, 2026
MGM China Holdings’ subsidiary MGM Grand Paradise, S.A. has joined with Macau’s other gaming concessionaires to establish the Macau SAR Government Guidance Fund No. 2, a limited partnership fund created under the Macau Investment Funds...
MGM China Posts Higher Revenue but Lower Profit as VIP Business Softens
Aug 6, 2026
MGM China reported operating revenue of HK$17.39 billion for the first half of 2026, up from HK$16.66 billion a year earlier, driven mainly by higher main floor table and slot revenues. Despite the top-line growth, adjusted EBITDA edged down to HK...
MGM China Declares Interim Dividend of HKD 0.25 Per Share
Aug 6, 2026
MGM China Holdings has declared an interim ordinary cash dividend of HKD 0.25 per share for the six months ended 30 June 2026, with the dividend relating to the financial year ending 31 December 2026. The ex-dividend date is set for 20 August 2026...
MGM China Names Executive Director Jeny Lau as Chief Financial Officer
Jul 30, 2026
MGM China Holdings announced that executive director Jeny Lau will assume the role of chief financial officer effective August 1, 2026, marking a significant change in the group’s senior leadership structure. In her new position, Lau will ov...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.