Mgm Resorts International ( (MGM) ) has released its Q1 earnings. Here is a breakdown of the information Mgm Resorts International presented to its investors.
MGM Resorts International is a global gaming and entertainment company known for its extensive portfolio of hotels and casinos, including iconic brands on the Las Vegas Strip, and its ventures in sports betting and online gaming through BetMGM.
In the first quarter of 2025, MGM Resorts International reported a mixed financial performance, with a slight decrease in consolidated net revenues and net income compared to the previous year. Despite these declines, the company achieved record occupancy and slot win on the Las Vegas Strip and saw significant revenue growth in its BetMGM venture, which turned to a positive EBITDA.
Key highlights from the earnings report include a 7% increase in slot win year over year on the Las Vegas Strip, a substantial share repurchase program that reduced outstanding shares by 43% since 2021, and the authorization of a new $2 billion share repurchase program. The MGM Rewards program also reached a milestone with over 50 million members. However, consolidated net revenues decreased by 2% to $4.3 billion, and net income attributable to MGM Resorts fell to $149 million from $217 million in the prior year.
Looking ahead, MGM Resorts remains optimistic about the remainder of 2025, with strong forward bookings and a record hotel month anticipated for April on the Las Vegas Strip. The company continues to focus on implementing EBITDA enhancements and capital investments to strengthen its market-leading operations and iconic brands.