The latest financial results for MGM Resorts International show a positive trend with the company posting a $4.4 billion revenue in the second quarter of 2025. This marks a 2% year-over-year increase largely due to strong performance in regional operations and MGM China’s robust growth.
“This performance was driven by accelerating EBITDA growth at the BetMGM venture and record results out of our regional operations as well as MGM China,” stated MGM Resorts CEO and President Bill Hornbuckle. The outlook for the business remains promising, especially in Las Vegas, where the completion of the MGM Grand room remodel and significant capital investment are expected to enhance the company’s performance in 4Q25 and into 2026, supported by strong convention bookings.
Impact of Las Vegas on MGM Resorts Revenue Increase
Despite this growth, the company’s net income saw a decline to $49 million compared to $187 million in the same quarter last year. This was attributed to a foreign currency transaction loss of $208 million related to USD-denominated debt held by a foreign subsidiary. Adjusted EBITDA saw a slight rise to $648 million, up from $635 million in Q2 of 2024.
The Las Vegas Strip properties brought in $2.1 billion in revenue for the current quarter, down from $2.2 billion in 2024. The 4% decrease was primarily the result of ongoing room remodel effects and a reduced table games hold at MGM Grand Las Vegas. Adjusted EBITDAR was $710 million, down 9% from the previous year’s $782 million.
MGM China and Regional Gains Highlight Revenue Increase
Meanwhile, regional properties reported a revenue of $965 million, up 4% from $927 million in Q2 2024. This rise was largely driven by increased casino revenue and upticks in both table games drop and slot handle. Adjusted EBITDAR increased 7%, reaching $309 million compared to last year’s $288 million.
MGM China recorded a revenue of $1.1 billion in Q2, showing a 9% increase from $1.0 billion in the previous year. This growth came mainly from a boost in casino revenue, due to an uptick in main-floor and VIP table games activities.
Additionally, MGM Digital’s revenue climbed to $164 million in the current quarter, marking a 14% increase from $143 million in Q2 2024, driven by brand expansion. However, the adjusted EBITDAR reported a loss of $26 million, deepening from a $14 million loss the previous year.
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