Studio City International Holdings Limited Q2 2025 Earnings Report

SEC Filing 6-K (0001193125-25-170921)

Studio City International Holdings Limited (NYSE: MSC) reported its unaudited financial results for the second quarter of 2025. The company, a world-class integrated resort located in Cotai, Macau, saw total operating revenues increase to US$190.1 million, up from US$161.5 million in the same period last year. This growth was primarily driven by improved performance in mass market operations and higher non-gaming revenues. The Studio City Casino generated gross gaming revenues of US$359.6 million, compared to US$339.3 million in Q2 2024. Mass market table games drop was US$958.2 million, with a hold percentage of 34.0%, up from 30.1% in Q2 2024. Gaming machine handle increased to US$916.1 million, with a win rate of 3.7%. The company reported an operating income of US$23.1 million, a significant improvement from US$3.0 million in Q2 2024. Adjusted EBITDA for the quarter was US$76.4 million, up from US$54.2 million in the same period last year. Despite these gains, the company reported a net loss attributable to Studio City International Holdings Limited of US$3.7 million, or US$0.02 per ADS, compared to a net loss of US$33.4 million, or US$0.17 per ADS, in Q2 2024. The company also highlighted its strategic repositioning to focus on premium mass and mass operations, with VIP rolling chip operations transferred to City of Dreams in late October 2024.