MGM Resorts International INVESTOR PRESENTATION 02.12.2025 Privileged prepared at the request of counsel MGM RESORTS INTERNATIONAL WORLD-CLASS OPERATORS POISED TO CAPTURE UNPARALLELED GLOBAL TAM THROUGH ITS RESORTS AND DIGITAL PLATFORMS Great Brands Growing Global Presence 1. Calculated as digital + brick & mortar gross gaming revenue from active jurisdictions in which MGM currently operates Access to $150 Billion in Regulated TAM1 2 OUR MISSION: TO BE THE WORLD'S PREMIER GAMING & ENTERTAINMENT COMPANY Oper ...

Core Insights - MGM Resorts reported revenue of $4.35 billion for the quarter ended December 2024, a decrease of 0.7% year-over-year, with EPS at $0.45 compared to $1.06 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $4.28 billion by 1.50%, while the EPS surpassed the consensus estimate of $0.32 by 40.63% [1] Financial Performance Metrics - Las Vegas Strip Resorts' slots handle was $6,841 million, exceeding the two-analyst average estimate of $6,385.66 million [4] - Table games drop for Las Vegas Strip Resorts was $1,599 million, slightly below the average estimate of $1,620.98 million [4] - Total revenues for Las Vegas Strip Resorts were $2.22 billion, matching the average estimate based on five analysts, but representing a year-over-year decline of 6.2% [4] - MGM China generated revenues of $1.02 billion, surpassing the estimated $969.45 million, reflecting a year-over-year increase of 3.7% [4] - Total regional operations revenues were $931.56 million, exceeding the average estimate of $915.49 million, with a year-over-year growth of 6.7% [4] - Adjusted Property EBITDA for Total Las Vegas Strip Resorts was $765.43 million, above the average estimate of $754.40 million [4] - Adjusted Property EBITDA for Total Regional Operations was $281.09 million, exceeding the estimated $269.79 million [4] - Adjusted Property EBITDA for MGM China was $254.72 million, surpassing the average estimate of $248.07 million [4] - Adjusted Property EBITDA for unconsolidated resorts/affiliates was -$39.33 million, better than the estimated -$42.92 million [4] - Adjusted Property EBITDA for management and other operations was $0.97 million, significantly better than the estimated -$8.61 million [4] - Adjusted Property EBITDA for corporate was -$119.14 million, worse than the average estimate of -$109.45 million [4] Stock Performance - MGM shares returned +3.5% over the past month, compared to the Zacks S&P 500 composite's +4.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - MGM Resorts reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of $0.32 per share, but down from $1.06 per share a year ago, indicating a 40.63% earnings surprise [1] - The company generated revenues of $4.35 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.50%, although this represents a slight decline from $4.38 billion in the same quarter last year [2] Earnings Performance - Over the last four quarters, MGM has surpassed consensus EPS estimates three times, indicating a positive trend in earnings performance [2] - The company had an earnings surprise of -6.90% in the previous quarter, where it reported earnings of $0.54 against an expectation of $0.58 [1][3] Future Outlook - The sustainability of MGM's stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - Current consensus EPS estimate for the upcoming quarter is $0.51 on revenues of $4.29 billion, and for the current fiscal year, it is $2.04 on revenues of $17.12 billion [7] Industry Context - The Gaming industry, to which MGM belongs, is currently ranked in the top 16% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact MGM's stock performance [5][6]

The gambling and resort giant delivered a strong quarterly earnings beat driven by growth in its online and regional segments, despite headwinds in Las Vegas.MGM Resorts International (MGM 0.29%), a leading global hospitality and entertainment company, released its fourth-quarter results on Feb. 12. Significantly, its adjusted EPS came in at $0.45, surpassing expectations of $0.32, as revenues of $4.35 billion exceeded the expected $4.27 billion. However, net income decreased to $157 million from $313 milli ...

Core Insights - MGM China Holdings Limited reported record-high revenue and EBITDA for the year 2024, with net revenue growing by 27% to HK$31.4 billion, representing 138% of 2019 levels [7] - The company achieved an adjusted EBITDA of HK$9.1 billion, up by 25% year-on-year, which is 147% of 2019 figures [7] - MGM China's market share reached an all-time high of 15.8% in 2024, an increase from 15.2% in 2023 and significantly higher than 9.5% in 2019 [7] Financial Performance - Daily gross gaming revenue (GGR) increased by 29% year-on-year, reaching 129% of pre-COVID levels [7] - Mass GGR, including slot revenue, rose by 33%, achieving 179% of pre-COVID levels [7] - Adjusted EBITDA margin improved to 28.9%, which is 170 basis points higher than in 2019 [7] Visitor Trends - Macau welcomed 34.9 million visitors in 2024, a 24% increase from the previous year, with daily visitation recovering to 88% of 2019 levels [2] - MGM China's property visitation grew by 54% year-on-year, reaching 163% of 2019 levels [7] - Hotel occupancy rates improved to 94% in 2024, up from 92.5% in 2023 [7] Cultural and Non-Gaming Initiatives - MGM China hosted various cultural events and festivals in 2024, including concerts and exhibitions, enhancing its non-gaming revenue streams [4][6] - The Poly MGM Museum opened in November 2024, attracting nearly 500,000 visitors and showcasing 228 artifacts related to the Maritime Silk Road [5][7] - The company is committed to promoting cultural tourism and economic diversification in Macau [7][9] Community Engagement - MGM China has initiated community engagement efforts in the Barra district, introducing art exhibitions and workshops to revitalize local areas [8]

Financial Performance - MGM Resorts reported record full-year consolidated net revenues of $17.2 billion, an increase of 7% from the prior year[5]. - Consolidated net revenues for Q4 2024 were $4.3 billion, a decrease of 1% compared to the prior year quarter[6]. - Net income attributable to MGM Resorts for the full year was $747 million, down from $1.1 billion in the prior year[15]. - Adjusted EPS for the full year was $2.59, compared to $2.67 in the prior year[18]. - Total revenues for the twelve months ended December 31, 2024, reached $17,240,545, an increase of 6.7% from $16,164,249 in 2023[52]. - Net income attributable to MGM Resorts International for the twelve months ended December 31, 2024, was $746,558 thousand, down from $1,142,180 thousand in 2023, indicating a decrease of 34.66%[63]. - Adjusted EPS for the twelve months ended December 31, 2024, was $2.40, compared to $3.19 in 2023, indicating a decline of 24.6%[52]. - The company reported a total operating income of $291,565 for the three months ended December 31, 2024, down 30.5% from $419,344 in the same period of 2023[52]. Revenue Sources - MGM China achieved record full-year Segment Adjusted EBITDAR of $1.1 billion, up 25% from the previous year[5]. - Casino revenue for Las Vegas Strip Resorts decreased by 15% to $501 million in Q4 2024[21]. - MGM Resorts experienced a 6% increase in casino revenue in Regional Operations, totaling $676 million in Q4 2024[26]. - Casino revenue for the three months ended December 31, 2024, was $2,210,746, slightly up from $2,203,523 in 2023, showing a marginal increase of 0.1%[52]. - Las Vegas Strip Resorts generated net revenues of $8,816,113 thousand for the twelve months ended December 31, 2024, slightly up from $8,799,146 thousand in 2023, an increase of 0.19%[57]. - MGM China reported net revenues of $4,022,384 thousand for the twelve months ended December 31, 2024, up from $3,153,609 thousand in 2023, a growth of 27.53%[57]. Shareholder Actions - The company repurchased 33 million shares in 2024, reducing shares outstanding by over 40% since 2021[5]. - The weighted average diluted shares outstanding decreased to 299,447 for the three months ended December 31, 2024, from 340,151 in the same period of 2023[52]. Digital and Market Expansion - The company noted a significant $41 billion market opportunity for its global MGM Digital business[2]. - MGM Resorts is pursuing targeted expansion in Asia, specifically through an integrated resort development in Japan[46]. - The company is focused on enhancing its digital presence, including the launch of MGM Digital in Brazil, to strengthen its market position[48]. - MGM Resorts aims to position BetMGM as a leader in sports betting and iGaming, reflecting its strategic growth initiatives in the gaming sector[48]. - BetMGM is expected to be profitable in 2025, with accelerated revenue growth throughout 2024[5]. Financial Position - Cash and cash equivalents decreased to $2,415,532 thousand as of December 31, 2024, from $2,927,833 thousand a year earlier, a decline of 17.43%[55]. - Total current assets decreased to $4,363,599 thousand as of December 31, 2024, from $4,910,593 thousand in 2023, a reduction of 11.14%[55]. - Total liabilities increased to $38,511,671 thousand as of December 31, 2024, compared to $38,001,047 thousand in the previous year, an increase of 1.34%[55]. - The operating lease liabilities remained stable at $25,076,139 thousand as of December 31, 2024, compared to $25,127,464 thousand in the previous year[55]. - The company reported a decrease in retained earnings to $3,081,753 thousand as of December 31, 2024, down from $3,664,008 thousand in 2023, a decline of 15.93%[55]. EBITDA Metrics - Consolidated Adjusted EBITDA for the three months ended December 31, 2024, was $330,899, compared to $413,066 for the same period in 2023, reflecting a decrease of 20%[52]. - Consolidated Adjusted EBITDA for the twelve months ended December 31, 2024, reached $2,410,841 thousand, compared to $2,335,527 thousand for the same period in 2023, reflecting an increase of 3.22%[63].

MGM Resorts reports record full year consolidated net revenues, up 7% to $17.2 billion MGM China has record full year Segment Adjusted EBITDAR of $1.1 billion, an increase of 25% from prior year Repurchased over 33 million shares in 2024, reducing shares outstanding by more than 40% since 2021 BetMGM accelerated its revenue growth through 2024 and expects to be profitable in 2025LAS VEGAS, Feb. 12, 2025 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported fi ...

The upcoming report from MGM Resorts (MGM) is expected to reveal quarterly earnings of $0.32 per share, indicating a decline of 69.8% compared to the year-ago period. Analysts forecast revenues of $4.28 billion, representing a decrease of 2.1% year over year.The current level reflects a downward revision of 9.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Pr ...

MGM Resorts International (MGM) is scheduled to report fourth-quarter 2024 results on Feb. 12, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, adjusted earnings and revenues missed the Zacks Consensus Estimate by 6.9% and 0.9%, respectively. On a year-over-year basis, both metrics improved 15.6% and 5.3%, respectively.The company’s earnings beat in three of the trailing four quarters and missed on one occasion, with an average sur ...

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