MGM China Surges Over 6% as Morgan Stanley Says Q3 Results Beat Market Fears

Deep News11-02 12:00

MGM China (02282) jumped nearly 8% during intraday trading, and as of press time, shares were up 6.36% at HK$9.70, with turnover of HK$22.4008 million.

Recently, MGM China disclosed its third-quarter results. CICC noted that the company's third-quarter net revenue was RMB 8.926 billion, up 5% year-on-year and 3% quarter-on-quarter, reaching 155% of the same period in 2019; adjusted EBITDA was RMB 2.395 billion, up 1% year-on-year and 3% quarter-on-quarter, also recovering to 155% of the same period in 2019, exceeding market forecasts of RMB 2.297 billion, mainly driven by an increase in gross gaming revenue market share and better profitability across business segments.

Morgan Stanley, meanwhile, believes that MGM China's third-quarter results were better than market concerns. The bank believes the company's valuation is attractive, with EV/EBITDA at 6.2 times based on annualizing the third quarter and 2027 market expectations. The company's operating performance under industry headwinds is better than peers, and further deleveraging is expected to help raise the current 5.6% dividend yield. Market expectations for 2026 corporate EBITDA imply fourth-quarter EBITDA of approximately HK$1.974 billion, up 1% quarter-on-quarter and down 19% year-on-year. The bank considers this threshold to be low and expects 2026 market forecasts to be revised upward.

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The bank considers this threshold to be low and expects 2026 market forecasts to be revised upward.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MGM China Surges Over 6% as Morgan Stanley Says Q3 Results Beat Market Fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMGM China Surges Over 6% as Morgan Stanley Says Q3 Results Beat Market Fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2026-11-02 12:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>MGM China (<b>02282</b>) jumped nearly 8% during intraday trading, and as of press time, shares were up 6.36% at HK$9.70, with turnover of HK$22.4008 million.<br><br>Recently, <b>MGM China</b> disclosed its third-quarter results. CICC noted that the company's third-quarter net revenue was RMB 8.926 billion, up 5% year-on-year and 3% quarter-on-quarter, reaching 155% of the same period in 2019; adjusted EBITDA was RMB 2.395 billion, up 1% year-on-year and 3% quarter-on-quarter, also recovering to 155% of the same period in 2019, exceeding market forecasts of RMB 2.297 billion, mainly driven by an increase in gross gaming revenue market share and better profitability across business segments.<br><br>Morgan Stanley, meanwhile, believes that <b>MGM China</b>'s third-quarter results were better than market concerns. The bank believes the company's valuation is attractive, with EV/EBITDA at 6.2 times based on annualizing the third quarter and 2027 market expectations. The company's operating performance under industry headwinds is better than peers, and further deleveraging is expected to help raise the current 5.6% dividend yield. Market expectations for 2026 corporate EBITDA imply fourth-quarter EBITDA of approximately HK$1.974 billion, up 1% quarter-on-quarter and down 19% year-on-year. The bank considers this threshold to be low and expects 2026 market forecasts to be revised upward.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投资银行业与经纪业","start_time":0,"source_url":"","article_id":"1166861334","we_media_id":"1039043262","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166861334","pubTimestamp":1793592024,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Deep News","introduction":"Global Stock Market Deep Analysis","home_visible":1,"id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"summary":"MGM China (02282) jumped nearly 8% during intraday trading, and as of press time, shares were up 6.36% at HK$9.70, with turnover of HK$22.4008 million.Recently, MGM China disclosed its third-quarter...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4127":"投资银行业与经纪业","IE00BKVL7J92.USD":"Legg Mason ClearBridge - 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