The earnings call highlighted several positive achievements, including record-breaking revenue, success in digital and international operations, and strong performance in regional properties. However, there were challenges in Las Vegas, with declines in adjusted EBITDAR, visitation, and disruptions due to room remodels. Despite these challenges, the positive aspects, particularly in global ventures and digital growth, suggest optimism for future quarters.

Company Guidance -

Q3 2025

In the second quarter of 2025, MGM Resorts International reported record-high consolidated net revenues, driven by strong performances in both digital growth and regional properties, offsetting weaknesses in Las Vegas. The BetMGM North America venture raised its full-year 2025 guidance for the second time, indicating an EBITDA turnaround of nearly $400 million compared to the previous year. Las Vegas showed resilience with record table games and slot volumes, despite a decline in adjusted EBITDAR attributed to room remodel disruptions at MGM Grand and midweek weaknesses. The company's regional properties achieved record net revenues, and MGM China saw a record adjusted EBITDAR with a market share of 16.6%. MGM remains optimistic about future growth, leveraging their diverse portfolio and strategic initiatives, including developments in Japan and Dubai, and a strategic relationship with Marriott that boosted room bookings by 31% year-over-year.

Record-Breaking Revenue and Growth

MGM Resorts International reported record-high consolidated net revenues this quarter, driven by their diverse global portfolio.

BetMGM North America Success

The BetMGM North America venture raised its full-year 2025 guidance for the second time, with an EBITDA turnaround of nearly $400 million compared to the previous year.

Strong Las Vegas Performance

Despite some setbacks, Las Vegas saw record 2Q table games volume and record slot volumes at ultra-luxury properties.

MGM China Achievements

MGM China achieved record adjusted EBITDAR and a market share of 16.6%, representing the highest sequential gain among all concessionaires.

Regional Properties' Success

Three regional properties reported record high net revenues, with strong performance across gaming, hotel, and food and beverage segments.

MGM Digital Improvement

The international digital segment showed solid improvement, achieving near breakeven performance excluding investment in Brazil.

MGM Resorts (MGM) Earnings, Revenues Date & History

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MGM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.44 / -	0.54	―	―	―
Jul 30, 2025	2025 (Q2)	0.58 / 0.79	0.86	-8.14% (-0.07)
Apr 30, 2025	2025 (Q1)	0.47 / 0.69	0.74	-6.76% (-0.05)
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)

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

MGM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$37.88	$36.45	-3.78%
Apr 30, 2025	$31.46	$30.86	-1.91%
Feb 12, 2025	$34.37	$40.37	+17.46%
Oct 30, 2024	$41.41	$36.87	-10.96%

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.