Studio City Q2 2026: Revenue Falls 13% to $164.6M, Net Loss Widens to $15.6M
MSC is trading near its 52-week low of $1.57 (8.0% above the low).
Summary
Studio City's Q2 2026 results show a 13% revenue decline and a wider net loss, though the company continues to reduce debt and maintain adequate liquidity.
Key Events · Earnings and Guidance · MSC
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Q2 Revenue Declines 13%
Total operating revenues fell to $164.6 million from $190.1 million in Q2 2025, driven by softer mass market table games and lower non-gaming revenues.
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Net Loss Widens
Net loss attributable to shareholders was $15.6 million ($0.08 per ADS), compared to $3.7 million ($0.02 per ADS) in Q2 2025.
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Adjusted EBITDA Down 12%
Adjusted EBITDA was $67.0 million, down from $76.4 million a year ago, reflecting lower casino contract revenue and softer non-gaming performance.
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Debt Reduction Continues
Total debt, net, decreased by $38.0 million during the quarter to $1.98 billion, following the refinancing of $350 million of 7.000% notes due 2027 with new 6.125% notes due 2031.
Analysis · MSC · Real Estate & Construction
The second quarter of 2026 brought a 13% year-over-year revenue decline to $164.6 million, reflecting softer mass market table games and lower non-gaming revenues. Net loss attributable to shareholders widened to $15.6 million from $3.7 million a year ago, while Adjusted EBITDA fell to $67.0 million from $76.4 million. The company continues to deleverage, reducing total debt by $38 million during the quarter to $1.98 billion, with cash of $118.2 million. The results confirm the negative trend previewed in the Reuters report, with the full financial statements now available.
At the time of this filing, MSC was trading at $1.70 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $364.1M. The 52-week trading range was $1.57 to $6.63. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.