MGM Resorts Reports Record Slot Machine Revenue and Occupancy in Las Vegas for Q1

Summary

• MGM Resorts International Announces Financial Results for the First Quarter of 2025
• The company announced a decline in net revenue compared to the previous year.
• In the first quarter, MGM Resorts achieved a record level of slot machine revenue and occupancy rates at its Las Vegas Strip properties.

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MGM Resorts International, a prominent company in gaming, hospitality, and entertainment, has published its latest financial and operating results for the quarter ending March 31, 2025. Despite a slight decline in its overall net revenues, the company achieved a record slot win and Las Vegas Strip occupancy.

Revenue dips, Las Vegas occupancy and slot win rise

MGM Resorts announced its consolidated net revenues for the first quarter of this year amounted to $4.3 billion, marking a 2% decline from the same quarter in 2024. The company attributed this decrease primarily to reduced revenues from MGM China and its properties on the Las Vegas Strip. Net income attributable to MGM Resorts stood at $149 million, down from $217 million reported in the first quarter of 2024. For its Las Vegas Strip resorts, the company reported net revenues of $2.2 billion for Q1, slightly lower than the $2.3 billion from the previous year, reflecting a 3% decrease. This decline was mainly due to reduced non-gaming revenues, specifically a decrease in average daily rate (ADR) following the Super Bowl in Las Vegas the year before, although it was partially offset by increased casino revenue. In terms of regional operations, MGM Resorts generated $900 million in net revenues for the quarter, a modest 1% drop from $909 million in the same period last year. MGM China's net revenue also saw a 3% dip, reaching $1.0 billion compared to $1.1 billion in 2024. MGM Digital's net revenue for the first quarter was stable at $128 million, matching last year's figure. Highlighting a positive aspect, MGM Resorts reported a record $545 million in slot machine winnings from its Las Vegas Strip resorts, a robust 7% increase year-over-year. Additionally, the Las Vegas Strip resorts achieved record occupancy of 94% during the three-month period ending March 31, 2025.

A strong first quarter

Bill Hornbuckle, the Chief Executive Officer and President of MGM Resorts International, shared his insights on the company's performance.

he said. He further noted that the company is well-prepared for the rest of 2025 and is making substantial progress on implementing $200 million in EBITDA enhancements that began last year. Hornbuckle added. Additionally, he commended the company's exceptional team, globally recognized brands, and diverse market portfolio, all of which position MGM Resorts for future growth. In March, MGM Resorts expanded its Board of Directors by adding Donna Langley from NBCUniversal.