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Studio City International Holdings (MSC) investor relations material
Studio City International Holdings Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating revenues rose to $190.1 million in Q2 2025, up 17.7% year-over-year, driven by improved mass market and non-gaming performance.
Operating income surged to $23.1 million from $3 million, a significant year-over-year increase.
Net loss attributable to shareholders narrowed to $3.7 million from $33.4 million year-over-year.
Strategic focus shifted to premium mass and mass operations, with VIP operations discontinued in late October 2024.
Adjusted EBITDA increased to $76.4 million, up 40.8% year-over-year.
Financial highlights
Gross gaming revenue reached $359.6 million, up from $339.3 million year-over-year.
Casino contract revenue grew 35% year-over-year to $84 million.
Non-gaming revenue increased to $106.3 million, up 6.9% year-over-year.
Total operating costs and expenses rose 5.3% to $167 million.
Adjusted net loss per ADS was $0.017, compared to $0.165 in Q2 2024.
Outlook and guidance
Forward-looking statements highlight risks from market changes, economic conditions, regulatory developments, and capital market volatility in Macau and other regions.
Growth strategies and future business development are subject to uncertainties, including gaming law amendments and government approvals.
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