MGM Resorts has shared its financial results for the second quarter of 2025, reporting a record-breaking high for revenue.
The global entertainment and resorts brand has reported net revenues of $4.4 billion, an increase of 2% when compared to the same period a year before. That increase is largely attributed to success at MGM China, with the region achieving an all-time record in earnings before tax with a market share of 16.6%.
Net income for MGM Resorts has fallen, however, from $187 million to just $49 million, thanks to the impact of foreign currency exchanges. Nonetheless, CEO and President Bill Hornbuckle – who recently signed a new contract at the company – attributes the ‘strong growth’ to the strength of its BetMGM offering.
“MGM Resorts’ operational scale and diversity delivered solid growth in the second quarter, with consolidated results increasing year over year,” said Hornbuckle. “This performance was driven by accelerating EBITDA growth at the BetMGM venture and record results out of our Regional Operations as well as MGM China.
“Our outlook on the business remains bright, particularly in Las Vegas as 4Q25 and full year 2026 will benefit from meaningful capital investment, including the completion of the MGM Grand room remodel, combined with strong convention bookings. Looking beyond 2025, our BetMGM venture continues towards its goal of $500 million in EBITDA and our MGM Digital segment is on target to become profitable in the coming years.”
The focus on Las Vegas echoes the positive outlook of Caesars Entertainment CEO Tom Reeg, despite a slow second and third quarter in 2025. While gambling activity in the historical heart of betting has plateaued recently, many operators are looking for ways to innovate and tempt people away from the ever-growing online gambling sector.
Trends in MGM Resorts’ earnings
Looking at some of the trends that one of the largest gambling and entertainment companies in the world is observing, there are some notable examples to pick out. For example, net revenue at Las Vegas resorts dropped by $100 million from the year before, with MGM citing a decline in table games as the reason.
However, revenue surged by the same amount in China, thanks to increased casino table games in the region, suggesting a geographical shift for the company. Indeed, MGM Resorts is clearly making Asia a priority market, with attempts to influence casino tax rates in Thailand.
Featured image: MGM Resorts
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