Accessibility StatementSkip Navigation Purchase price represents an approximate 6.6x multiple on Adjusted EBITDA for the  trailing twelve months ended June 30, 2025 Jefferies LLC and SMBC Nikko Securities America, Inc. served as advisors and Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts. About MGM Resorts International MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and entertainment company with national and international locations featuring best-in-class hotels and ...

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]

Core Insights - MGM Resorts International has appointed Ryan Abboushi as President of Entertainment, aiming to enhance its live entertainment and immersive experiences [1][2] - Abboushi brings 16 years of experience from Creative Arts Agency (CAA), where he was involved in numerous film and television projects [2][3] - His responsibilities will include overseeing venue utilization, show bookings, talent management, and building branded entertainment experiences across MGM Resorts' destinations [3] Company Overview - MGM Resorts International is a global gaming and entertainment company listed on the S&P 500, with a portfolio of 31 hotel and gaming destinations worldwide [4] - The company operates BetMGM, a joint venture offering sports betting and online gaming in North America, and is expanding into Asia with a resort development in Japan [4] - MGM Resorts is recognized for its commitment to sustainability and has been listed among FORTUNE Magazine's World's Most Admired Companies [4]