Studio City 2025 年第四季度和全年业绩强劲，减少亏损和收入增长

summarizeSummary

Studio City International Holdings Limited demonstrated a strong recovery and operational efficiency in its Q4 and full-year 2025 results. The company's strategic shift to focus on premium mass and mass market operations, initiated in late 2024, appears to be successful, leading to increased casino contract revenue and non-gaming revenues. The substantial reduction in net loss and significant growth in operating income and Adjusted EBITDA indicate a positive trajectory for the integrated resort. Investors should monitor the continued performance of the mass market segment and the impact of the recent operational changes, such as the reallocation of gaming machines.

check_boxKey Events

• 2025 年第四季度财务改善

  总营运收入增加到16.03亿美元，从2024年同期的15.29亿美元，营业利润超过翻倍，达到7800万美元，从2024年第四季度的3100万美元。

• 减少净亏损

  净利润归属于Studio City在2025年第四季度显著缩小至5,000,000美元（每张ADS 0.11美元），比2024年第四季度的5,700,000美元（每张ADS 0.14美元）要小。

• 全年业绩

  2025 年全年总营运收入从 6,391 万美元增长到 6,946 万美元，净亏损从 9670 万美元（每 ADS 0.50 美元）减少到 5880 万美元（每 ADS 0.31 美元），2024 年。

• 运营重组成功

  该公司对高端大众和大众业务的战略重点，包括将VIP滚动筹码业务转移和重新分配108台游戏机，促进了业绩的改善。

auto_awesomeAnalysis

Studio City International Holdings Limited demonstrated a strong recovery and operational efficiency in its Q4 and full-year 2025 results. The company's strategic shift to focus on premium mass and mass market operations, initiated in late 2024, appears to be successful, leading to increased casino contract revenue and non-gaming revenues. The substantial reduction in net loss and significant growth in operating income and Adjusted EBITDA indicate a positive trajectory for the integrated resort. Investors should monitor the continued performance of the mass market segment and the impact of the recent operational changes, such as the reallocation of gaming machines.