MGM RESORTS INTERNATIONAL REPORTS RECORD SECOND QUARTER 2025 FINANCIAL AND OPERATING RESULTS

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]