MGM Resorts International Q2 Earnings Exceed Expectations, Revenue at $4.4 Billion

MGM Resorts International reported Q2 revenue of $4.4 billion, surpassing expectations. The company's diverse operations, including increased EBITDA at BetMGM and strong performance in Regional Operations and MGM China, contributed to growth. CEO Bill Hornbuckle expressed optimism for future performance, particularly in Las Vegas. MGM's BetMGM venture is on track to achieve its $500 million EBITDA target, and the MGM Digital segment is projected to become profitable in the future.

MGM Resorts International (MGM) reported a record second quarter (Q2) 2025 financial and operating results, with consolidated net revenues reaching $4.4 billion, a 2% increase compared to the prior year quarter [2]. The company's diverse operations, including increased EBITDA at BetMGM and strong performance in Regional Operations and MGM China, contributed to the growth.

CEO Bill Hornbuckle expressed optimism for future performance, particularly in Las Vegas. "Our outlook on the business remains bright, particularly in Las Vegas as 4Q25 and full year 2026 will benefit from meaningful capital investment, including the completion of the MGM Grand room remodel, combined with strong convention bookings," he said [2].

MGM's BetMGM venture is on track to achieve its $500 million EBITDA target, and the MGM Digital segment is projected to become profitable in the coming years. The company also repurchased 8 million shares in Q2 2025, reducing shares outstanding by 45% since the beginning of 2021 [2].

MGM's Q2 2025 earnings per share (EPS) were $0.79, surpassing the Zacks Consensus Estimate of $0.58 per share, representing an earnings surprise of +36.21% [1]. Over the last four quarters, the company has surpassed consensus EPS estimates three times [1].

While the company's stock has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? The Zacks Rank for MGM is currently #3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [1]. The current consensus EPS estimate for the coming quarter is $0.42, and for the current fiscal year, it is $2.15 [1].

MGM's strong performance across regions highlights the resilience of the gaming industry, which is currently in the top 36% of the 250 plus Zacks industries [1]. Another casino company from the same industry, Melco Resorts (MLCO), is expected to report results for the quarter ended June 2025 on July 31. Melco Resorts is expected to post quarterly earnings of $0.09 per share, representing a year-over-year change of +50% [1].

References:
[1] https://finance.yahoo.com/news/mgm-resorts-mgm-beats-q2-213003514.html
[2] https://www.prnewswire.com/news-releases/mgm-resorts-international-reports-record-second-quarter-2025-financial-and-operating-results-302516724.html