MGM Resorts revenue dragged down by continuing losses in Las Vegas

Group 1 - MGM Resorts International experienced a net revenue increase of 2% year over year to $4.3 billion for Q3 2025, driven by growth in MGM China [6][7] - The company reported a net Q3 loss of $285 million, primarily due to the withdrawal of its application for a commercial gaming license in Yonkers, New York [4] - Las Vegas saw a decline in net revenue by 7% year over year for the quarter, attributed to room remodels at MGM Grand Las Vegas and decreases in RevPAR, table games win percentage, and food and beverage revenue [7] Group 2 - MGM's Las Vegas segment has faced declines for four consecutive quarters, with a Q2 decline of 4% year over year, while Caesars Entertainment reported a nearly 10% decline in the market [3] - CEO Bill Hornbuckle noted a decline in international visitation, particularly from Canada, and the impact of Spirit Airlines' bankruptcy on canceled routes [3] - Despite current challenges, MGM anticipates over 40 million visitors to Las Vegas in 2025 and is working on initiatives to increase visitation [4] Group 3 - MGM China reported net third-quarter revenue of $1.1 billion, a 17% increase year over year, despite a $12 million impact from a typhoon [6] - The segment adjusted EBITDAR for MGM China increased by 20% year over year to $284 million, with a market share of 15.5% [6] - The company highlighted the divestment of MGM Northfield Park casino operations in Ohio for $546 million in cash [5] Group 4 - There are signs of stabilization in Las Vegas for Q4, with the return of groups and conventions and a strengthening luxury market segment [6] - MGM Digital saw a 23% year-over-year growth in Q3, with the appointment of Gary Fritz as chief commercial officer to accelerate digital and iGaming growth [7]