MGM Resorts International revenue increases in Q2
Revenue was up 2 per cent from the prior-year quarter.
US.- MGM Resorts has reported financial results for the second quarter ended June 30. Consolidated net revenue was $4.4bn, up 2 per cent from the prior year quarter, due primarily to an increase in net revenues at MGM China and regional operations.
Net income totalled $49m compared to $187m in the prior-year quarter, and consolidated adjusted EBITDA was $648m, up from $635m.
The Las Vegas Strip resorts’ net revenue was $2.1bn, down 4 per cent due to the impact of a room remodel and a decline in table games hold at MGM Grand Las Vegas. Segment adjusted EBITDAR totalled $710m, down 9 per cent. Regional operations’ net revenue was $965m up 4 per cent, with increases in table games drop and slot handle. Segment adjusted EBITDAR was $309m, up 7 per cent. MGM China net revenue was $1.1bn, an increase of 9 per cent.
Bill Hornbuckle, chief executive officer and president of MGM Resorts International, said: “MGM Resorts’ operational scale and diversity delivered solid growth in the second quarter, with consolidated results increasing year over year. This performance was driven by accelerating EBITDA growth at the BetMGM venture and record results out of our Regional Operations as well as MGM China.
“Our outlook on the business remains bright, particularly in Las Vegas as 4Q25 and full year 2026 will benefit from meaningful capital investment, including the completion of the MGM Grand room remodel, combined with strong convention bookings. Looking beyond 2025, our BetMGM venture continues towards its goal of $500 million in EBITDA and our MGM Digital segment is on target to become profitable in the coming years.”
Jonathan Halkyard, chief financial officer and treasurer of MGM Resorts International, added: “MGM Resorts remains on track to implement over $150 million of EBITDA enhancements within the year. During the quarter we repurchased 8 million shares for $217m. We still have approximately $2.1bn in our authorized share repurchase program and continue to see significant value in our stock at current prices.”
BetMGM, the US joint venture owned by MGM Resorts International and Entain, reported net revenue for a total of $692m in Q2, up 36 per cent year-over-year. For H1, revenue was $1.35bn, up 35 per cent.
