Studio City International Holdings Limited

Studio City International Holdings Limited reported total operating revenues of $694.6 million for FY 2025, up 8.7% from $639.1 million in FY 2024, driven by stronger mass market performance at Studio City Casino and higher non-gaming revenues. Revenue from casino contract rose to $305.9 million from $259.8 million, reflecting increased gross gaming revenues of $1.38 billion versus $1.31 billion, with mass market table games drop at $3.76 billion (hold 33.4%) and gaming machine handle at $3.60 billion (win rate 3.5%). Rooms revenue grew 4.5% to $168.0 million, supported by ADR of $171 and 98% occupancy. Operating income improved to $70.0 million from $38.1 million, with Adjusted EBITDA at $284.5 million (41.0% margin) versus $245.3 million (38.4% margin). Net loss attributable to SCIH narrowed to $58.8 million from $96.7 million. Balance sheet shows $2.80 billion total assets, $2.02 billion long-term debt net, and $109.4 million cash. Operating cash flow was $210.3 million, supporting $85.1 million investing outflows. FY 2025 highlights debt reduction and operational recovery amid Macau gaming market growth.

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