MGM Resorts International shares full-year 2025 financial report
The company has reported net revenue of $17.5bn for 2025.
US.- MGM Resorts International has released its financial results for the year 2025. The company reported consolidated net revenue of $17.5bn, up 2 per cent year-on-year. Net income stood at $206m, down from $747m in 2024. Consolidated adjusted EBITDA was $2.4bn, an increase of 1 per cent in year-on-year terms.
The Las Vegas Strip Resorts segment generated $8.4bn in revenue, down 4 per cent; and adjusted EBITDAR of $2.9bn, a decrease of 8 per cent. MGM China’s revenue increased 11 per cent to $4.5bn. Segment adjusted EBITDAR also increased by 11 per cent to $1.2bn.
Regional operations reported revenue of $3.8bn, up 1 per cent. Adjusted EBITDAR reached $1.2bn, up 2 per cent. MGM Digital‘s revenue grew 19 per cent to $654m with an adjusted EBITDAR loss of $90m, compared to a loss of $77m in the prior year.
Bill Hornbuckle, chief executive officer & president of MGM Resorts International, said: “MGM Resorts once again saw the benefit of a diversified operational strategy, delivering Consolidated Adjusted EBITDA growth of 20 per cent in the fourth quarter despite headwinds in Las Vegas.
“As we enter 2026, we are full of optimism for the future driven by the solid base of group and convention business and the completion of the MGM Grand renovations in Las Vegas, continued solid and unwavering results in our Regional Operations, premium mass leadership position at MGM China, double digit revenue growth in BetMGM North America Venture, and an international pipeline of long-term growth with MGM Osaka.
Jonathan Halkyard, CFO of MGM Resorts International, added: “In 2025, we drove important financial stewardship initiatives, including sourcing low cost of debt capital for MGM Osaka, driving $135m in distributions from our BetMGM North America Venture and $153m from MGM China, announcing the sale of the Northfield Park operations at a significant premium to our Las Vegas and Regional brick and mortar operations multiple, and repurchasing over $1.2bn in shares.
“The aggregate impact of these financial initiatives positions MGM Resorts with consistent sources of cash flow to fund future growth and deliver significant value for our shareholders.”
