Slots produce record results for MGM in Las Vegas and its regional markets
MGM achieves record full-year slot win in 2025
MGM Resorts generated net revenues of $4.6bn in its fourth quarter, an increase of six per cent compared to the prior year quarter, with slot machines in Las Vegas and MGM’s regional casinos reaching record highs.
The year as a whole brought a two per cent increase to revenues of $17.5bn with Las Vegas revenues down four per cent, but Macau up 11 per cent.
For the quarter, Las Vegas strip resorts generated revenues of $2.2bn, a decrease of three per cent compared to the prior year quarter. MGM’s regional casinos generated revenues of $950m in the current quarter compared to $932m in the prior year quarter, an increase of two per cent. Macau produced $1.2bn in the current quarter compared to $1bn in the prior year quarter, an increase of 21 per cent. The company’s digital arm brought in revenues of $188m in the current quarter compared to $140m in the prior year quarter, an increase of 35 per cent.
“MGM Resorts once again saw the benefit of a diversified operational strategy, delivering Consolidated Adjusted EBITDA growth of 20 per cent in the fourth quarter despite headwinds in Las Vegas,” said Bill Hornbuckle, President and CEO of MGM Resorts International. “Last year marked the return to a more balanced environment after several years of exceptional growth in Las Vegas. And even with the Las Vegas-specific headwinds, we were able to achieve record full-year slot win in 2025, driven by our luxury offerings. From this reset baseline, we see a path to grow in Las Vegas for the full year of 2026.”
The slot success continued in the regional casinos. Mr Hornbuckle said: “During the quarter, they reported not only a record fourth quarter slot win but also the best full year slot win ever.”
“As we enter 2026, we are full of optimism for the future driven by the solid base of group and convention business and the completion of the MGM Grand renovations in Las Vegas, continued solid and unwavering results in our Regional Operations, premium mass leadership position at MGM China, double digit revenue growth in BetMGM North America Venture, and an international pipeline of long-term growth with MGM Osaka.”
“In 2025, we drove important financial stewardship initiatives, including sourcing low cost of debt capital for MGM Osaka, driving $135m in distributions from our BetMGM North America Venture and $153m from MGM China, announcing the sale of the Northfield Park operations at a significant premium to our Las Vegas and Regional brick and mortar operations multiple, and repurchasing over $1.2bn in shares,” said Jonathan Halkyard, CFO of MGM Resorts International. “The aggregate impact of these financial initiatives positions MGM Resorts with consistent sources of cash flow to fund future growth and deliver significant value for our shareholders.”
