Monitor the company's ability to maintain momentum in mass market operations and non-gaming revenue growth, as the improved financial performance is offset by a continued net loss. The successful debt refinancing provides near-term stability, but the declining cash position warrants attention.
Price Chart
Executive Summary
STUDIO CITY INTERNATIONAL HOLDINGS Ltd (MSC) reported its 2025 annual results, showing improved financial performance driven by stronger mass market operations and higher non-gaming revenues, despite a net loss. The company successfully refinanced its 2025 debt and maintains a strong liquidity position.
Key Facts
- Total operating revenue increased 8.7% YoY to $694.6 million in 2025
- Operating income nearly doubled to $72.9 million from $37.1 million in 2024
- Net loss attributable to company decreased to $71.8 million from $102.8 million in 2024
- Adjusted EBITDA increased to $282.7 million from $239.4 million in 2024
- Successfully repaid $221.6 million in 2025 Intercompany Notes at maturity in July 2025
- Cash and cash equivalents decreased to $54.4 million from $68.2 million in 2024
Financial Impact
Revenue increased by $55.4 million, operating income increased by $35.8 million, and net loss decreased by $31.0 million compared to 2024
Risk Factors
- Continued net losses despite improved operating performance
- Declining cash position from $68.2 million to $54.4 million
- High leverage with $2.0 billion in total debt
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-174897 |
| Document: d95137dex991.htm | 0001193125-26-174897 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 27d ago | Insider Cluster | $0.9700 $0.9800 | ▲ +1.03% | ▼ −0.27% | $0.7942 (−18.12%) |
Sep 28, 2026 29d ago | Insider Cluster | $0.8500 $0.9800 | ▲ +15.29% | ▲ +13.35% | $0.7942 (−6.56%) |
Sep 23, 2026 4w ago | 6-K | $0.7991 $0.9240 | ▲ +15.63% | ▲ +16.30% | $0.7942 (−0.61%) |
Aug 28, 2026 8w ago | 6-K | $1.77 $1.71 | ▲ +3.14% | ▲ +3.25% | $0.7942 (+55.13%) |
Aug 14, 2026 10w ago | 6-K | $1.80 $1.86 | ▼ −3.06% | ▼ −4.42% | $0.7942 (+55.88%) |
Aug 13, 2026 10w ago | Press Release | $1.73 $1.80 | ▼ −4.05% | ▼ −6.01% | $0.7942 (+54.09%) |
Aug 7, 2026 11w ago | 6-K | $1.81 $1.80 | ▼ −0.55% | ▼ −0.95% | $0.7942 (−56.12%) |
Jul 21, 2026 14w ago | 6-K | $1.73 $1.75 | ▲ +1.16% | ▲ +2.38% | $0.7942 (−54.09%) |
Jun 18, 2026 18w ago | 6-K | $1.98 $1.83 | ▼ −7.58% | ▼ −5.51% | $0.7942 (−59.89%) |
Jun 8, 2026 20w ago | 6-K | $2.34 $2.09 | ▼ −10.68% | ▼ −12.79% | $0.7942 (−66.06%) |
US Market Status
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