Goldman Sachs: MGM China (02282.HK) Q2 results meet expectations, rating "Buy"

According to the Zhitong Finance APP, Goldman Sachs released a research report stating that MGM China (02282.HK) achieved second-quarter results that met both the bank's and market expectations. The property EBITDA was HKD 2.33 billion, decreasing by 5% quarter-over-quarter, which is within the market forecast range of HKD 2.2 billion to HKD 2.4 billion. After excluding the impact of the VIP win rate below the assumed theoretical level, the adjusted EBITDA was approximately HKD 2.35 billion, down 8% quarter-over-quarter and down 3% year-over-year. The bank made minor adjustments to its EBITDA predictions for MGM China for the fiscal years 2026 to 2028, with a maximum change of 1%, maintaining a target price of HKD 16 and a "Buy" rating.