LAS VEGAS, Nevada—MGM Resorts Worldwide reported its monetary outcomes for the third quarter of 2025. Amongst different highlights, consolidated web revenues elevated 2 % 12 months over 12 months.
“MGM Resorts delivered one other quarter of consolidated web income progress as we profit from our operational scale and variety, highlighted by document third quarter outcomes from MGM China,” mentioned Invoice Hornbuckle, Chief Government Officer & President of MGM Resorts Worldwide. “The BetMGM North American enterprise reported accelerated progress in 3Q25, rising full 12 months steerage for the second consecutive quarter and asserting money distributions to MGM Resorts starting in 4Q25. The preliminary distribution to MGM is anticipated to be no less than $100 million, proving vital progress on the expansion, profitability, and free money circulation technology of the enterprise.”
“We’re seeing encouraging indicators of stability in Las Vegas with the return of the group and conference season and the completion of the MGM Grand room transform,” mentioned Jonathan Halkyard, Chief Monetary Officer & Treasurer of MGM Resorts Worldwide. “MGM’s strategic deal with premium, market-leading built-in resort operations drove the choice to promote the operations of MGM Northfield Park. The worth displays a strong a number of, which once more demonstrates the worth hole out there within the MGM Resorts fairness worth.”
Consolidated Outcomes
- Consolidated web revenues of $4.3 billion, a rise of two % in comparison with the prior 12 months quarter, due primarily to a rise in web revenues at MGM China.
- Internet loss attributable to MGM Resorts was $285 million within the present quarter in comparison with web earnings attributable to MGM Resorts of $185 million within the prior 12 months quarter due primarily to the pre-tax impacts of a non-cash goodwill impairment cost of $256 million associated to the choice to withdraw the appliance for a business gaming license for Empire Metropolis and roughly $93 million of different non-cash write-offs associated to Empire Metropolis;
- Consolidated Adjusted EBITDA of $506 million within the present quarter in comparison with $574 million within the prior 12 months quarter.
- Diluted loss per share of $1.05 within the present quarter in comparison with diluted earnings per share of $0.61 within the prior 12 months quarter; and
- Adjusted diluted earnings per share (“Adjusted EPS”) of $0.24 within the present quarter in comparison with $0.54 within the prior 12 months quarter.
Las Vegas Strip Resorts
- Internet revenues of $2.0 billion within the present quarter in comparison with $2.1 billion within the prior 12 months quarter, a lower of seven % due primarily to the room transform at MGM Grand Las Vegas, in addition to a lower in RevPAR, a lower in desk video games win share, and a lower in meals and beverage income; and
- Phase Adjusted EBITDAR of $601 million within the present quarter in comparison with $731 million within the prior 12 months quarter, a lower of 18 %, which was primarily associated to the lower in web revenues mentioned above in addition to a lower in enterprise interruption proceeds of $14 million and a rise generally legal responsibility and employees’ compensation insurance coverage expense of $13 million.
Regional Operations
- Internet revenues of $957 million within the present quarter, up barely in comparison with $952 million within the prior 12 months quarter; and
- Phase Adjusted EBITDAR of $296 million within the present quarter in comparison with $300 million within the prior 12 months quarter, a lower of 1 %.
MGM China
- Internet revenues of $1.1 billion within the present quarter in comparison with $929 million within the prior 12 months quarter, a rise of 17 % due primarily to a rise in primary ground desk video games drop; and
- Phase Adjusted EBITDAR of $284 million within the present quarter in comparison with $237 million within the prior 12 months quarter, a rise of 20 %.
MGM Digital
- Internet revenues of $174 million within the present quarter in comparison with $141 million within the prior 12 months quarter, a rise of 23 % due primarily to natural progress and model enlargement; and
- Phase Adjusted EBITDAR lack of $23 million within the present quarter, a lower of 2 % in comparison with the prior 12 months quarter.
