MGM China - In 2025, MGM China reported net revenues of $4.5bn, up 11% year-on-year, with Adjusted EBITDAR also increasing 11% to US$1.2bn. Fourth quarter results underlined continued outperformance, as net revenues rose 21.4% to US$1.24bn and casino revenue grew 23%. MGM Cotai remained a key driver of growth, delivering strong revenue and EBITDAR gains in Q4. During the year, the company enhanced its premium mass positioning with the launch of the ultra high end Alpha Club and the completion of 28 Alpha Villas at its peninsula property MGM Macau.

Sands - In FY2025, Sands generated operating income of $2.82bn, an increase from US$2.40bn the previous year. Marina Bay Sands was a standout performer, with Adjusted Property EBITDA in Q4 alone surging 50.1% year-on-year to a record $806m, reflecting the continued success of its premium suite and service enhancements. In Macau, Sands China reached a significant milestone, welcoming more than 1.1 billion guests across its integrated resorts to date, underlining its long standing presence and broad appeal in the region.

Melco Resorts & Entertainment - In 2025, Melco reported Group Property EBITDA of US$1.43bn, reflecting a year of recovery, disciplined cost management and margin expansion. In Macau, Property EBITDA rose 25% year-on-year to US$1.23bn, driven by stronger gaming revenues and improved margins. The company also expanded its regional footprint with the opening of City of Dreams Sri Lanka (in partnership with John Keells Holdings), South Asia’s first integrated casino resort, marking a significant milestone in its Asia-Pacific growth strategy.

Grand Korea Leisure - Grand Korea Leisure recorded a strong 2025 with sales rising to KRW422.95bn (US$291m) and net income increasing 42% to KRW47.07bn (US$32.5m) supported by a resurgence in overseas patron activity. The operator advanced innovation with its AI-powered VisionEye system and earned national recognition for its contribution to tourism development. With a solid balance sheet, improved earnings and visible community impact, GKL reinforced its standing as a leading casino operator in the region.

Paradise Co - Paradise Co achieved record annual revenue for FY 2025, KRW1.15tn (US$789m), up 7.3% year-on-year, and operating profit of KRW156.4bn (US$107m), up 14.9%, driven by a strong rebound in inbound tourism and improved VIP and mass segment performance across its foreigner-only casinos in South Korea. The company sustained growth despite quarterly earnings fluctuations, optimized operations across multiple properties and reinforced its leadership in the Korean gaming market during a period of regional recovery.

Wynn Resorts - In the third quarter of 2025, Wynn Resorts reported operating revenues of US$1.01bn in Macau, up 14.8% year-on-year and 13.4% quarter-on-quarter, marking its strongest quarter since the pandemic. Performance was supported by robust VIP activity and improved operating momentum across its integrated resorts. During the year, Wynn advanced key capital projects, including the expansion and reopening of its premium Chairman’s Club at Wynn Palace, tripling the size of the space to nearly 100,000 square feet and reinforcing its focus on high value customers in Macau.

Galaxy Entertainment Group - Over the past 18 months, Galaxy Entertainment Group has accelerated investment in advanced technology, rolling out smart tables, integrating data platforms and enhancing analytics capabilities to deepen customer insight and further elevate the guest experience across its Macau portfolio. In parallel, the group continues to advance Phase 4 of Galaxy Macau as part of its long term development strategy. For FY2025, GEG reported net revenue of HK$49.2bn (US$6.29bn), up 13% year-on-year, with Adjusted EBITDA increasing 19% to HK$14.5bn (US$1.85bn), highlighting strong operating momentum in the market.

Bloomberry Resorts Corporation - In 2025, Bloomberry delivered a resilient performance, with gaming revenue declining only slightly while continuing to outperform the broader Philippine integrated resort market. Growth was supported by the ramp up of Solaire Resort North and the strength of its domestic mass market segment. During the year, the company enhanced offerings across both Solaire properties while implementing cost management and refinancing initiatives to drive efficiencies. Bloomberry also continued to strengthen its digital platforms, positioning the business for long term growth.