Macquarie has released a research report stating that it has raised its adjusted EBITDA forecasts for MGM China (02282) for 2025-27 by 2.2%, decreased by 0.5%, and increased by 0.4% respectively. The firm has slightly lowered the company's target price from HK$22.2 to HK$22.1, maintaining an "Outperform" rating. According to the report, MGM China's Q2 gaming revenue increased 12% both year-over-year and quarter-over-quarter, exceeding the firm's expectations by 2%. Total revenue rose 9% year-over-year and 8% quarter-over-quarter, in line with expectations. Adjusted EBITDA reached a record high of HK$2.51 billion, beating expectations by 3%. Additionally, the company's market share increased by 0.6 percentage points year-over-year to 16.6% during the period, representing the highest consecutive growth among the six operators. Management expressed confidence in maintaining the company's market share at mid-teens levels.