MGM Resorts/$MGM

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About MGM Resorts

MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.

Ticker

$MGM

Primary listing

NYSE

Employees

69,000

MGM Resorts Metrics

BasicAdvanced
$9.2B
18.44
$1.84
1.82
-

What the Analysts think about MGM Resorts

Analyst ratings (Buy, Hold, Sell) for MGM Resorts stock.

Bulls say / Bears say

BetMGM operations reported net revenue growth of 36% year-on-year to $692 million and EBITDA of $86 million in Q2 2025, up from $9 million, showcasing a clear path to digital profitability (Investing.com).
MGM China posted net revenue of $1.11 billion in Q2 2025, up 9% year-over-year, and delivered record Segment Adjusted EBITDAR of $301 million, raising its market share to 16.6% in Macau (Reuters).
US Regional Operations achieved record net revenues of $964.6 million in Q2 2025, a 4% increase, and segment Adjusted EBITDAR of $309 million, up 7%, underscoring the strength of MGM’s diversified portfolio (Reuters).
Las Vegas Strip net revenues declined 4% to $2.1 billion and segment Adjusted EBITDAR fell 9% to $710 million in Q2 2025, driven by room remodels and softer table games hold at flagship properties (Reuters).
MGM Digital’s adjusted operating loss widened in Q2 2025 despite a 14% revenue gain to $163.9 million, contributing to a drop in adjusted EPS from $0.86 to $0.79 and highlighting ongoing profitability challenges in online operations (Reuters).
MGM’s aggressive international expansion, including its Osaka resort slated for 2030 and Dubai project expected in 2028, necessitates substantial capital expenditures this year, which may constrain free cash flow and limit shareholder returns (Investing.com).
Data summarised monthly by Lightyear AI. Last updated on 2 Oct 2025.

MGM Resorts Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

MGM Resorts Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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