MGM Resorts International stock surged 4.8% following the release of its impressive first-quarter 2025 financial results and the announcement of a new share repurchase program. The casino and hospitality giant outperformed analysts' expectations, demonstrating resilience in its core business and success in the burgeoning online betting market.

The company reported adjusted earnings per share of $0.69, significantly beating the Wall Street consensus estimate of $0.46. Net income for the quarter reached $149 million, surpassing the expected $141.2 million. While total revenue slightly declined by 2.4% year-over-year to $4.28 billion, it still managed to edge out analysts' projections of $4.27 billion.

A standout performer in MGM's portfolio was BetMGM, its online sports betting and iGaming platform. For the first time, BetMGM turned profitable, reporting positive EBITDA of $22 million. This marks a substantial turnaround from the $132 million loss in the same quarter last year, highlighting the growing potential of the digital gaming sector. Additionally, MGM's board of directors authorized a new $2 billion share repurchase program, signaling confidence in the company's valuation and future prospects. This move is likely to be well-received by investors, potentially contributing to the stock's upward momentum.