MGM Resorts International reported strong first-quarter 2025 results, with consolidated net revenues slightly down 2% year-over-year to $4.28 billion, primarily due to a challenging comparison to the prior year's Super Bowl in Las Vegas. Diluted earnings per share were $0.51, and Adjusted EPS was $0.69, significantly above analysts' consensus estimates.
A key highlight was the positive EBITDA performance of $22 million from the BetMGM venture, marking a significant turnaround and a $154 million improvement year-over-year. The Las Vegas Strip Resorts segment saw casino revenue increase 8% to $538 million, while rooms revenue decreased 9% due to lower average daily rates compared to the Super Bowl-boosted Q1 2024.
Regional Operations net revenues decreased 1% to $900.4 million, and MGM China net revenues decreased 3% to $1.03 billion. Despite these segment-level fluctuations, the company is making progress on $200 million in EBITDA enhancements, expecting to implement over $150 million in 2025.
MGM Resorts repurchased nearly 15 million shares for $494 million in the first quarter. Additionally, the Board of Directors authorized a new $2 billion share repurchase program, signaling strong confidence in the company's valuation and commitment to returning capital to shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.