MGM Resorts extends branding deal as MGM China strengthens Macau performance

MGM Resorts International has signed a new long-term branding deal with MGM China Holdings, strengthening the partnership as MGM China continues to post solid financial results.

The updated agreement kicks in on January 1, 2026, and will run through the end of Macau’s current gaming concession in 2032. If Macau grants another concession after that, the deal will automatically extend until either that new concession ends or December 31, 2045, whichever comes first.

Under the new terms, MGM China will pay a higher monthly license fee, increasing from 1.75% to 3.5% of its adjusted consolidated net monthly revenue, calculated under IFRS standards. The fee will be capped annually based on factors like business volume, in line with Hong Kong Stock Exchange rules. MGM Resorts will receive about two-thirds, or 66.6%, of that fee.

MGM China branding agreement will no longer need to be hammered out

One big change is that the agreement no longer needs to be renegotiated every three years. That gives MGM China long-term brand stability, while MGM Resorts secures ongoing compensation for the use of its brand. The brand itself has clearly paid off. MGM China’s market share has grown from about 9% before the pandemic to roughly 16% so far this year through September 30, 2025.

The announcement comes after MGM Resorts’ third-quarter earnings release at the end of October. The company reported $4.3 billion in consolidated net revenue, up 2% year over year, largely driven by strong performance in China.

MGM China posted record third-quarter segment adjusted EBITDAR and captured a 15.5% market share, showing continued momentum in Macau. However, on a consolidated level, MGM Resorts’ adjusted EBITDA dipped to $506 million, down from $574 million in the same quarter last year.

“MGM Resorts delivered another quarter of consolidated net revenue growth as we benefit from our operational scale and diversity, highlighted by record third quarter results from MGM China,” said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International at the time.

MGM China announced a $3 billion refinancing in July, which set up a new rolling credit facility for its Macau operations. The move was shared through an official statement from MGM Resorts International and helped further strengthen MGM China’s financial position.

Featured image: Hugo F.H.C via WikiCommons / CC BY-SA 4.0

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