MGM Resorts Tumbles to 373rd in Market Activity Amid Las Vegas Struggles Eyes Long-Term Resilience

On July 31, 2025, MGM Resorts International (MGM) declined 3.78% with a trading volume of $0.39 billion, ranking 373rd in market activity. The stock’s performance reflects mixed signals from the company’s recent earnings and operational updates. Despite challenges in Las Vegas, CEO Bill Hornbuckle emphasized the market’s long-term resilience, citing historical growth trends and upcoming high-profile events such as the Canelo-Crawford boxing match and the Formula 1 Las Vegas Grand Prix. However, June data revealed an 11.3% year-over-year decline in visitor numbers and a 6.5% drop in Strip occupancy, highlighting near-term pressures.

Management attributed part of the earnings shortfall to a $72 million decline in adjusted EBITDAR, driven by the MGM Grand’s room remodel and midweek weakness at value-oriented properties. The CEO noted a rebound in bookings over the past four weeks, signaling optimism for the fourth quarter. Strategic initiatives, including a partnership with Marriott’s Bonvoy loyalty program, contributed to a 31% increase in second-quarter bookings, with high-spending guests adding $150 per room. Accelerating the MGM Grand’s renovation to October aims to capitalize on holiday and event-driven demand.

Regional and international operations provided stability, with domestic regional properties reporting record net revenue and slot wins. MGM China achieved a 16.6% market share, the highest among concessionaires, while the Osaka and Dubai projects advanced. The company’s digital ventures, including BetMGM, continued growth, with sports betting revenue rising 56% year-over-year. Despite these gains, the Las Vegas core remains a near-term drag, with management prioritizing capital allocation to restore growth in 2026.

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