MGM Resorts International Earnings Recaps
Q3 2025
Oct 30, 2025
MGM Resorts International reported solid Q3 2025 results with diversified revenue growth, driven by strong performance in both regional and international markets, coupled with strategic asset optimizations.
Key takeaways
- Consolidated net revenues grew, benefiting from geographic diversity and a strong performance in luxury properties.
- Strategic asset management includes the sale of Northfield Park for $546 million, significantly appreciating from its acquisition price.
- Record travel bookings achieved through a partnership with Marriott, with October on track to be the strongest month for forward bookings.
- Continued strength in the Macau market, with record EBITDA driven by enhanced entertainment offerings despite temporary closures.
- The convention and group segment remains robust, with over 90% of target groups contracted for 2026, setting a strong foundation for future revenue growth.
Q2 2025
Aug 1, 2025
MGM Resorts International reported record consolidated net revenue in Q2 2025, highlighting the strength of its diverse portfolio across global markets, despite challenges in Las Vegas.
Key takeaways
- Achieved highest-ever consolidated net revenue, driven by robust growth in digital operations and significant gains in both China and regional properties.
- BetMGM raised its full-year 2025 EBITDA guidance, indicating a strong turnaround trajectory, with projected annual EBITDA of $500 million.
- Las Vegas remains solid with record table game and slot volumes at ultra-luxury properties, despite operational disruptions at MGM Grand.
- Significant investments in Las Vegas, including the $1.8 billion MLB stadium and extensive renovations, are expected to bolster visitor numbers and enhance property value.
- MGM China reported record EBITDAR and improved market share, with ongoing expansions aimed at increasing premium offerings.