LAS VEGAS, Nevada—MGM Resorts Worldwide reported monetary outcomes for the quarter and yr ended December 31, 2025.
“MGM Resorts as soon as once more noticed the advantage of a diversified operational technique, delivering Consolidated Adjusted EBITDA progress of 20 % within the fourth quarter regardless of headwinds in Las Vegas,” mentioned Invoice Hornbuckle, president and chief government officer of MGM Resorts Worldwide. “As we enter 2026, we’re filled with optimism for the longer term pushed by the strong base of group and conference enterprise and the completion of the MGM Grand renovations in Las Vegas, continued strong and unwavering ends in our Regional Operations, premium mass management place at MGM China, double digit income progress in BetMGM North America Enterprise, and a world pipeline of long-term progress with MGM Osaka.”
“In 2025, we drove vital monetary stewardship initiatives, together with sourcing low value of debt capital for MGM Osaka, driving $135 million in distributions from our BetMGM North America Enterprise and $153 million from MGM China, asserting the sale of the Northfield Park operations at a major premium to our Las Vegas and Regional brick and mortar operations a number of, and repurchasing over $1.2 billion in shares,” mentioned Jonathan Halkyard, chief monetary officer of MGM Resorts Worldwide. “The mixture influence of those monetary initiatives positions MGM Resorts with constant sources of money stream to fund future progress and ship important worth for our shareholders.”
Consolidated Outcomes for This autumn 2025
- Consolidated internet revenues of $4.6 billion, a rise of 6 % in comparison with the prior yr quarter.
- Internet earnings attributable to MGM Resorts of $294 million in comparison with $157 million within the prior yr quarter.
- Consolidated Adjusted EBITDA of $635 million within the present quarter in comparison with $528 million within the prior yr quarter, a rise of 20 %.
- Diluted earnings per share of $1.11 within the present quarter in comparison with $0.52 within the prior yr quarter.
- Adjusted diluted earnings per share (“Adjusted EPS”) of $1.60 within the present quarter in comparison with Adjusted EPS of $0.45 within the prior yr quarter.
Las Vegas Strip Resorts
- Internet revenues of $2.2 billion, a lower of three % in comparison with the prior yr quarter.
- Phase Adjusted EBITDAR of $735 million within the present quarter in comparison with $765 million within the prior yr quarter, a lower of 4 %.
Regional Operations
- Internet revenues of $950 million within the present quarter in comparison with $932 million within the prior yr quarter, a rise of two %.
- Phase Adjusted EBITDAR of $280 million within the present quarter in comparison with $281 million within the prior yr quarter.
MGM China
- Internet revenues of $1.2 billion within the present quarter in comparison with $1.0 billion within the prior yr quarter, a rise of 21 %.
- Phase Adjusted EBITDAR of $332 million within the present quarter in comparison with $255 million within the prior yr quarter, a rise of 30 %.
MGM Digital
- Internet revenues of $188 million within the present quarter in comparison with $140 million within the prior yr quarter, a rise of 35 %.
- Phase Adjusted EBITDAR lack of $7 million within the present quarter in comparison with a lack of $22 million within the prior yr quarter.
Consolidated Outcomes for Full-Yr 2025
- Consolidated internet revenues of $17.5 billion within the present yr in comparison with $17.2 billion within the prior yr, a rise of two %.
- Internet earnings attributable to MGM Resorts of $206 million within the present yr, in comparison with $747 million within the prior yr.
- Consolidated Adjusted EBITDA of $2.4 billion within the present yr, a rise of 1 % in comparison with the prior yr.
- Diluted earnings per share of $0.76 within the present yr in comparison with diluted earnings per share of $2.40 within the prior yr.
- Adjusted EPS of $3.31 within the present yr in comparison with $2.59 within the prior yr.
Las Vegas Strip Resorts
- Internet revenues of $8.4 billion within the present yr in comparison with $8.8 billion within the prior yr, a lower of 4 %.
- Phase Adjusted EBITDAR of $2.9 billion within the present yr in comparison with $3.1 billion within the prior yr, a lower of 8 %.
Regional Operations
- Internet revenues of $3.8 billion within the present yr in comparison with $3.7 billion within the prior yr, a rise of 1 %.
- Phase Adjusted EBITDAR of $1.2 billion within the present yr in comparison with $1.1 billion within the prior yr, a rise of two %.
MGM China
- Internet revenues of $4.5 billion within the present yr in comparison with $4.0 billion within the prior yr, a rise of 11 %.
- Phase Adjusted EBITDAR of $1.2 billion within the present yr in comparison with $1.1 billion within the prior yr, a rise of 11 %.
MGM Digital
- Internet revenues of $654 million within the present yr in comparison with $552 million within the prior yr, a rise of 19 %.
- Phase Adjusted EBITDAR lack of $90 million within the present yr in comparison with a lack of $77 million within the prior yr.
