MGM Resorts International MGM

Consumer discretionary SIC 7011 - Hotels & Motels NAICS Accommodation and Food Services › Accommodation › Traveler Accommodation derived NYSE

MGM Resorts International is referred to as the "Company," "MGM Resorts," or the "Registrant," and together with its subsidiaries may also be referred to as "we," "us" or "our."

MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company and, through subsidiaries, is a global gaming and entertainment company with domestic and international locations featuring best-in-class hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings, as well as sports betting and online gaming operations.

We believe we operate several of the finest casino properties in the world and we continually reinvest in our properties to maintain our competitive advantage. We make significant investments in our properties through newly remodeled hotel rooms, restaurants, entertainment and nightlife offerings, as well as other new features and amenities. We believe we operate the highest quality resorts in each of the markets in which we operate. Ensuring our properties are the premier resorts in their respective markets requires capital investments to maintain the best possible experiences for our guests. We also believe that through our online gaming operations, we can create a scaled global online gaming business.

Last close 28.06 2026-10-23
Market cap $7.06B 2026-06-30 share count
52-week range 27.68 - 51.59

Valuation FY2025 figures against the last close

P/S0.4x
P/E36.9x
P/FCF4.8x
EV/EBITDA11.2x
Dividend yield—
Diluted EPS0.76

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • China
  • Other
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 12.4B (70.8%) 71% United States China, FY2025: 4.5B (25.5%) 25% China Other, FY2025: 662M (3.8%) 4% Other FY2024 United States, FY2024: 12.7B (73.5%) 73% China, FY2024: 4B (23.3%) 23% Other, FY2024: 555.2M (3.2%) FY2023 United States, FY2023: 12.6B (77.8%) 78% China, FY2023: 3.2B (19.5%) 20% Other, FY2023: 433.6M (2.7%)
Region FY2025FY2024FY2023
United States $12.41B $12.66B $12.58B
China $4.46B $4.02B $3.15B
Other $662.0M $555.2M $433.6M

As the company reported it, from the “SEGMENT INFORMATION - Schedule of Long Lived Assets and Revenue Presented by Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $17.54B$17.24B$16.16B$13.13B$9.68B$5.16B$12.90B$11.76B$10.80B$9.48B
SG&A $4.88B$4.83B$4.70B$4.23B$2.51B$2.12B$2.10B$1.76B$1.56B$1.38B
Total operating expenses $16.61B$15.66B$14.21B$11.53B$7.49B$5.85B$9.08B$10.44B$9.23B$7.93B
Operating income $1.00B$1.49B$1.89B$1.44B$2.28B-$642.4M$3.94B$1.47B$1.71B$2.08B
Interest expense $419.0M$443.2M$460.3M$595.0M$799.6M$676.4M$847.9M$769.5M$668.7M$694.8M
Pre-tax income $280.8M$1.12B$1.47B$903.8M$1.46B-$1.51B$2.85B$634.0M$960.8M$1.26B
Income tax $240.1M$52.5M$157.8M$697.1M$253.4M$191.6M$632.3M$50.1M$1.13B$21.7M
Net income $205.9M$746.6M$1.14B$1.47B$1.25B-$1.03B$2.05B$466.8M$1.95B$1.10B
EPS, basic 0.772.423.223.522.44-2.023.900.823.381.94
EPS, diluted 0.762.403.193.492.41-2.023.880.813.341.92
Shares, diluted (wtd. avg.) 277.3M310.2M358.6M413.0M487.4M494.2M527.6M549.5M578.8M573.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.06B$2.42B$3.01B$6.04B$5.20B$5.10B$2.33B$1.53B$1.50B$1.45B
Receivables $1.12B$1.07B$929.1M$852.1M$583.9M$316.5M$612.7M$657.2M$542.3M$542.9M
Inventory $124.5M$140.6M$141.7M$126.1M$96.4M$88.3M$102.9M$110.8M$102.3M$97.7M
Total current assets $4.33B$4.36B$4.91B$8.15B$6.42B$5.95B$4.01B$2.53B$2.38B$2.23B
Property, plant and equipment ——$5.45B$5.22B$14.44B$14.63B$18.29B$20.73B$19.64B$18.43B
Goodwill $4.90B$5.15B$5.17B$5.03B$3.48B$2.09B$2.08B$1.82B$1.81B$1.82B
Other intangibles $1.36B$1.72B$1.72B$1.55B$3.62B$3.64B$3.83B$3.94B$3.88B$4.09B
Total assets $41.37B$42.23B$42.37B$45.69B$40.90B$36.49B$33.88B$30.21B$29.16B$28.17B
Accounts payable $421.5M$412.7M$461.7M$369.8M$286.2M$142.5M$235.4M$302.6M$255.0M$250.5M
Short-term debt ——$0$1.29B$1.00B$0$0$43.4M$158.0M$8.4M
Total current liabilities $3.51B$3.35B$3.13B$4.52B$3.44B$1.86B$3.19B$2.95B$3.14B$2.29B
Long-term debt $6.23B$6.36B$6.34B$7.43B$11.77B$12.38B$11.17B$15.09B$12.75B$12.98B
Total liabilities $38.10B$38.51B$38.00B———$21.11B$19.64B$17.47B$18.15B
Retained earnings $2.11B$3.08B$3.66B$4.79B$4.34B$3.09B$4.20B$2.42B$2.22B$545.8M
Total equity $2.43B$3.02B$4.33B$5.21B$10.98B$11.18B$12.66B$10.47B$11.61B$9.94B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.53B$2.36B$2.69B$1.76B$1.37B-$1.49B$1.81B$1.72B$2.21B$1.53B
Stock-based compensation $90.5M$80.2M$73.6M$71.3M$65.2M$107.0M$88.8M$70.2M$62.5M$55.5M
Capital expenditure $1.07B$1.15B$931.8M$765.1M$490.7M$270.6M$739.0M$1.49B$1.86B$2.26B
Investing cash flow -$1.14B-$1.28B-$714.2M$2.12B$1.54B$2.16B$3.52B-$2.08B-$1.58B-$2.28B
Financing cash flow -$1.73B-$1.56B-$5.00B-$3.02B-$2.81B$2.10B-$4.53B$389.2M-$568.8M$519.4M
Dividends paid —$0$0$4.0M$4.8M$77.6M$271.3M$260.6M$252.0M$0
Buybacks $1.23B$1.36B$2.29B$2.78B$1.75B$353.7M$1.03B$1.28B$327.5M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000789570-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B 20B Revenue, FY2016: 9.5B Net income, FY2016: 1.1B Revenue, FY2017: 10.8B Net income, FY2017: 2B Revenue, FY2018: 11.8B Net income, FY2018: 466.8M Revenue, FY2019: 12.9B Net income, FY2019: 2B Revenue, FY2020: 5.2B Net income, FY2020: -1B Revenue, FY2021: 9.7B Net income, FY2021: 1.3B Revenue, FY2022: 13.1B Net income, FY2022: 1.5B Revenue, FY2023: 16.2B Net income, FY2023: 1.1B Revenue, FY2024: 17.2B Net income, FY2024: 746.6M Revenue, FY2025: 17.5B Net income, FY2025: 205.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $9.48B $10.80B $11.76B $12.90B $5.16B $9.68B $13.13B $16.16B $17.24B $17.54B
Gross profit — — — — — — — — — —
Net income $1.10B $1.95B $466.8M $2.05B -$1.03B $1.25B $1.47B $1.14B $746.6M $205.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed Item 1.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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