UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-10362 MGM Resorts International (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Group 1 - The core viewpoint of the article highlights that MGM Resorts International reported a second-quarter net revenue of $4.4 billion, exceeding the forecast of $4.32 billion [1] - The adjusted earnings per share for the second quarter were $0.79, surpassing the expected $0.55 [1]

Consolidated Results Las Vegas Strip Resorts Page 1 of 9 • Record highest ever consolidated net revenues with record 2Q25 Regional Operations net revenues • MGM China achieved all-time record Segment Adjusted EBITDAR and market share of 16.6% • BetMGM venture reported strong revenue and EBITDA growth in 2Q25, upgrading its guidance for FY 2025 • Repurchased 8 million shares in 2Q25, reducing shares outstanding by 45% since the beginning of 2021 Exhibit 99.1 MGM RESORTS INTERNATIONAL REPORTS RECORD SECOND QU ...

Core Insights - MGM Resorts International reported solid growth in Q2 2025, driven by strong performance in its BetMGM venture and record results from Regional Operations and MGM China [2][5][6] - The company anticipates continued growth, particularly in Las Vegas, supported by significant capital investments and strong convention bookings [2][5] - MGM Resorts is on track to implement over $150 million in EBITDA enhancements within the year and has repurchased 8 million shares for $217 million [2][5][6] Financial Performance - Consolidated net revenues reached $4.4 billion, a 2% increase year-over-year, primarily due to growth in MGM China and Regional Operations [6][33] - Net income attributable to MGM Resorts was $49 million, down from $187 million in the prior year, largely due to a foreign currency transaction loss of $208 million [6][30] - Adjusted EBITDA for the quarter was $648 million, compared to $635 million in the prior year [6][34] Segment Performance - Las Vegas Strip Resorts reported net revenues of $2.1 billion, a 4% decrease from the prior year, impacted by room remodels and a decline in table games hold [6][33] - Regional Operations achieved net revenues of $965 million, a 4% increase year-over-year, driven by higher casino revenue [6][13] - MGM China reported net revenues of $1.1 billion, a 10% increase, with a market share of 16.6% and record Segment Adjusted EBITDAR [6][14] Share Repurchase and Capital Management - The company repurchased approximately 8 million shares, reducing shares outstanding by 45% since the beginning of 2021, with $2.1 billion remaining in the authorized share repurchase program [2][16] - MGM Resorts continues to see significant value in its stock at current prices [2][16] Future Outlook - The company aims for BetMGM to achieve $500 million in EBITDA and expects its MGM Digital segment to become profitable in the coming years [2][5] - The outlook for Las Vegas remains positive, with anticipated benefits from capital investments and strong convention bookings in Q4 2025 and full year 2026 [2][5]

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Financial Performance - MGM Resorts is expected to report Q2 2025 earnings of $0.55 per share from $4.31 billion in revenue, reflecting an 8% decline in earnings year-over-year and stagnant revenue growth compared to last year's $0.60 per share and $4.33 billion revenue [2] - Over the past twelve months, MGM generated $17 billion in revenue, with operating profits of $1.6 billion and net income of $678 million [3] Market Trends - Historically, MGM stock has declined 70% of the time following earnings announcements, with a median drop of 3.3% and a maximum fall of 13% [2] - Positive one-day post-earnings returns occurred approximately 30% of the time over the last five years, increasing to 33% in the last three years [6] Strategic Focus - MGM is focusing on long-term growth despite short-term challenges, emphasizing organic growth in sports and entertainment, updated pricing strategies, and rigorous cost management [3] - A relatively lower-risk strategy involves identifying correlations between short-term and medium-term returns following earnings to inform trading positions [7] Peer Comparison - The performance of peers can influence MGM's stock reaction post-earnings, with adjustments potentially occurring before the earnings announcements [8]

Core Insights - BetMGM has reported stronger than expected financial performance for 2Q and 1H 2025, leading to an increased outlook for FY25 [1][5][11] - The company attributes its success to effective strategic execution, resulting in significant revenue and EBITDA growth [2][5] Financial Performance - 2Q 2025 net revenue reached $692 million, a 36% increase year-over-year, with EBITDA of $86 million, up $78 million YoY [3][5][6] - 1H 2025 net revenue totaled $1.35 billion, reflecting a 35% YoY growth, and EBITDA was $109 million, an increase of $232 million YoY [5][6] - iGaming revenue for 2Q 2025 was $449 million, up 29% YoY, while Online Sports revenue was $228 million, a 56% increase YoY [3][5][11] Strategic Execution - The company has enhanced player engagement and refined marketing strategies, leading to improved player KPIs and overall engagement [2][5][11] - BetMGM has secured a 14% GGR market share in active markets, with 22% in iGaming and 8% in Online Sports, solidifying its market position [11] Future Outlook - BetMGM has upgraded its FY25 guidance, projecting net revenue of at least $2.7 billion and EBITDA of at least $150 million [5][11] - The company aims to achieve $500 million in EBITDA in the coming years, supported by its strong market position and operational leverage [5][11]

Core Viewpoint - MGM Resorts International is expected to report a decline in both revenues and earnings per share (EPS) for the second quarter of 2025, influenced by softer operational trends and inflationary pressures [1][8]. Estimate Revisions - The Zacks Consensus Estimate for second-quarter EPS has risen to 58 cents from 55 cents, but this reflects a 32.6% decrease from 86 cents in the same quarter last year [2]. - Projected revenues are estimated at nearly $4.3 billion, indicating a slight decline of 0.6% from the previous year's quarter [2]. Factors Influencing Quarterly Results - The decline in MGM's top and bottom lines is attributed to lower casino activity, reduced non-gaming demand, and weaker average daily rates, compounded by ongoing inflation and a tight labor market [3]. - Contributions from casino, rooms, and food and beverage are expected to be lower, with estimates of $2.17 billion, $880 million, and $722 million respectively, compared to $2.21 billion, $899 million, and $802 million from the prior year [4]. Operational Insights - Elevated operating expenses and wage inflation are likely to exert margin pressure, although digital growth, strong Las Vegas operations, and robust group bookings are expected to support performance [5]. - For Las Vegas operations, revenue estimates for casino and rooms are pegged at $500 million and $775 million, respectively, showing growth from $485 million and $767 million in the prior year [6]. - Regional properties are anticipated to generate steady cash flow, with revenue estimates of $702 million and $80 million for casino and rooms, respectively, compared to $684 million and $79 million in the previous year [7]. Earnings Prediction Model - The current model does not predict an earnings beat for MGM Resorts, as the company has an Earnings ESP of -2.80% and a Zacks Rank of 3 (Hold) [9].

Group 1 - MGM Resorts International is experiencing a significant increase of over 40% from the lows during the tariff sell-off, indicating a potential recovery in stock performance [1] - The upcoming Q2 2025 results are critical for the company, as fresh entries into the stock appear challenging [1] - The upside target for MGM Resorts is estimated at approximately $47, suggesting moderate growth potential from current levels [1]

Wall Street expects a year-over-year decline in earnings on lower revenues when MGM Resorts (MGM) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 30, might help the stock move higher if these key numbers are better than expectations. On ...