MGM Resorts posts solid Q4 and full year 2025 results

• MGM Resorts International made public its Q4 and full year 2025 financial results
• The company recorded 6% year-over-year increase in net revenues in Q4, while 2025 revenues increased by 2% to $17.5bn
• Executives at MGM Resorts speak with excitement about the latest figures

The globally recognizable gaming, entertainment and hospitality company, MGM Resorts International, released its fourth quarter and full year 2025 results.

The company reported a slight decrease in its Las Vegas revenues in Q4 2025, offset by growth across all other operating segments.

Q4 revenue increases by 6% year-over-year

In Q4 2025, MGM Resorts posted consolidated net revenues of $4.6bn, a result that signals a 6% year-over-year increase.

Notably, net income during the last quarter soared, increasing nearly two times to $294m when compared to the net income of $157m reported during the same period in 2024.

Consolidated Adjusted EBITDA increased as well, hitting $635m in Q4 2025, up by 20% when compared to the prior year period.

A breakdown of the $4.6bn in net revenues shows that the lion's share came from MGM Resorts' Las Vegas Strip Resorts.

In total, the company's Strip resorts posted $2.2bn in revenue in Q4 2025, signaling a slight decrease of 3% year-over-year.

However, MGM Resorts' regional operations reported $950m in revenues during the latest quarter, marking an increase of 2% year-over-year.

Equally as important, MGM China posted an increase of net revenues of 21% year-over-year, recording $1.2bn in Q4 2025.

MGM Resorts' digital operations performed exceptionally well in Q4 2025, hitting $188m in net revenues in the fourth quarter.

Compared to the $140m result from the same period in 2024, in Q4 2025, MGM Digital's net revenues soared by 35%.

Focusing on the bigger picture, MGM Resorts reported consolidated net revenues of $17.5bn in 2025, highlighting 2% growth when compared to the same period in 2024.

Consolidated Adjusted EBITDA for the period increased by 1%, hitting $2.4bn.

The company's diversified operational strategy brought benefits

Jonathan Halkyard, MGM Resorts International's CFO, spoke about the newly released financial results, Casino Guru News learned from a press release.

"In 2025, we drove important financial stewardship initiatives, including sourcing low cost of debt capital for MGM Osaka, driving $135 million in distributions from our BetMGM North America Venture and $153 million from MGM China, announcing the sale of the Northfield Park operations at a significant premium to our Las Vegas and Regional brick and mortar operations multiple, and repurchasing over $1.2 billion in shares," he explained.

Bill Hornbuckle, MGM Resorts' President and CEO, added: "MGM Resorts once again saw the benefit of a diversified operational strategy, delivering Consolidated Adjusted EBITDA growth of 20% in the fourth quarter despite headwinds in Las Vegas."

Hornbuckle acknowledged that in 2026, the company remains optimistic and anticipates the completion of the renovation at MGM Grand in Las Vegas, and growing its position in MGM China.

Image credit: Pixabay.com