The earnings call presented a generally positive outlook with record-breaking performance in several key areas, including Las Vegas operations and BetMGM growth. However, challenges such as the impact of the Super Bowl headwind, ongoing digital losses, and revenue declines in Las Vegas were noted. Overall, the sentiment is cautiously optimistic with an expectation of growth in 2025.

Company Guidance

During MGM Resorts International's fourth quarter and full year 2024 earnings call, the company provided guidance for the upcoming year. CEO Bill Hornbuckle highlighted the company's strong financial position, noting record annual domestic slot win, hotel revenue, and food and beverage revenue. MGM's Net Promoter Scores also reached an all-time high for Gold+ customers. The company expects continued growth in 2025, with revenues from domestic operations up in January and ADRs projected to grow throughout the year. MGM's balance sheet is characterized by low net debt and significant liquidity, allowing for strategic investments and expansion in both digital and brick-and-mortar platforms. The company is optimistic about achieving $2.4 to $2.5 billion in net revenues from operations for BetMGM in 2025, with EBITDA turning positive, representing a $250 million year-over-year increase. Additionally, MGM is focusing on enhancing the customer experience through investments in property renovations and expanding its digital footprint, particularly in Europe and Brazil. MGM aims to leverage its strong market position in Las Vegas and other key markets to drive sustained growth and shareholder value.

Record-Breaking Performance

MGM Resorts achieved record results in consolidated net revenues, domestic slot win, hotel revenue, and F&B revenue for 2024.

Strong Start to 2025

January 2025 showed positive indicators with increased domestic operations revenue and ADRs expected to grow throughout the year.

Las Vegas Operations

Las Vegas December slot handle and slot win reached all-time records, contributing to a strong fourth quarter performance.

Convention Bookings Surge

MGM Resorts recorded the strongest convention booking month in December, with bookings 43% higher than the prior record month.

BetMGM Performance

BetMGM drove over $2 billion in top-line growth, with expectations for 2025 net revenues from operations to reach $2.4 billion to $2.5 billion.

MGM China Success

MGM China achieved the best ever full-year segment adjusted EBITDA, with a market share growing to over 16% in December.

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MGM Resorts (MGM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MGM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 05, 2025	2025 (Q1)	0.47 / -	0.74	―	―	―
Feb 12, 2025	2024 (Q4)	0.32 / 0.45	1.06	-57.55% (-0.61)
Oct 30, 2024	2024 (Q3)	0.55 / 0.54	0.64	-15.62% (-0.10)
Jul 31, 2024	2024 (Q2)	0.60 / 0.86	0.59	45.76% (+0.27)
May 01, 2024	2024 (Q1)	0.56 / 0.74	0.44	68.18% (+0.30)
Feb 13, 2024	2023 (Q4)	0.71 / 1.06	-1.53	169.28% (+2.59)
Nov 08, 2023	2023 (Q3)	0.52 / 0.64	-1.39	146.04% (+2.03)
Aug 02, 2023	2023 (Q2)	0.56 / 0.59	0.03	1866.67% (+0.56)
May 01, 2023	2023 (Q1)	0.06 / 0.44	0.01	4300.00% (+0.43)
Feb 08, 2023	2022 (Q4)	-1.45 / -1.53	0.12	-1375.00% (-1.65)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MGM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	$34.37	$40.37	+17.46%
Oct 30, 2024	$41.41	$36.87	-10.96%
Jul 31, 2024	$42.97	$37.29	-13.22%
May 01, 2024	$39.75	$40.87	+2.82%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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