MGM Resorts International MGM reported first-quarter 2025 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom lines declined from the prior-year quarter’s level.

Management remains optimistic about the outlook for the rest of 2025, supported by strong forward bookings and expectations for record hotel performance in April on the Las Vegas Strip. The company stated progress on the $200 million EBITDA enhancement plan and expects more than $150 million to be realized in 2025.

Following the results, the company shares gained 4.1% during the after-hours trading session yesterday.

MGM Q1 Earnings & Revenue Details

MGM Resorts reported earnings per share (EPS) of 69 cents, beating the Zacks Consensus Estimate of 50 cents. In the prior-year quarter, it reported an adjusted EPS of 74 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

MGM Resorts International Price, Consensus and EPS Surprise

MGM Resorts International price-consensus-eps-surprise-chart | MGM Resorts International Quote

Quarterly revenues of $4.28 billion topped the consensus mark by 0.1%. The top line declined 2.4% on a year-over-year basis.

MGM China

During the first quarter, MGM China's net revenues decreased 2.7% year over year to $1.03 billion. The decline was primarily attributed to lower casino revenues, resulting from a decrease in the main floor table games drop year over year. MGM China casino revenues were down 3% year over year to $896 million.

MGM China's adjusted property earnings before interest, taxes, depreciation, amortization and restructuring or rent costs (EBITDAR) amounted to $285.6 million compared with $301.2 million reported in the prior-year quarter.

Domestic Operations

Net revenues at Las Vegas Strip Resorts were $2.18 billion, down 3.5% year over year. The decrease was caused by lower non-gaming revenues, mainly due to a decline in average daily rate following the Super Bowl being hosted in Las Vegas during the prior-year quarter. This was partially offset by an increase in casino revenues.

Adjusted property EBITDAR declined 2% year over year to $811.2 million. Casino revenues were $538 million, up 8% year over year.

Net revenues from Regional operations totaled $900.4 million, compared with $909.5 million reported in the prior-year quarter. The downside was primarily due to a fall in casino revenues.

Adjusted property EBITDAR was approximately $279 million, compared with $274.1 million reported in the prior-year quarter.

Balance Sheet & Share Repurchase

MGM Resorts ended the first quarter with cash and cash equivalents of $2.27 billion compared with $2.42 billion at 2024-end. Long-term debt at the end of the quarter was $6.41 billion, up from $6.36 billion at 2024-end.

During first-quarter 2025, MGM repurchased nearly 15 million shares for an aggregate of $494 million. As of March 31, 2025, the company stated availability of approximately $337 million under its share repurchase program. Additionally, on April 30, 2025, the company announced that its board of directors had approved a new $2 billion stock repurchase plan, supplementing the existing November 2023 program.

MGM’s Zacks Rank

MGM currently has a Zacks Rank #4 (Sell).

Stocks to Consider

Some better-ranked stocks from the Zacks Consumer Discretionary sector are TEGNA Inc. TGNA, Bally's Corporation BALY and American Outdoor Brands, Inc. AOUT.
 
TEGNA presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
 
TEGNA delivered a trailing four-quarter earnings surprise of 6.3%, on average. The stock has gained 16.8% in the past year. The consensus estimate for TGNA’s 2026 sales and EPS implies growth of 11.3% and 93.8%, respectively, from the year-ago levels.
 
Bally's presently sports a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of negative 166.2%, on average. The stock has declined 18.3% in the past year.
 
The consensus estimate for Bally's 2025 sales and EPS implies growth of 4.4% and 76.3%, respectively, from the year-ago levels.
 
American Outdoor carries a Zacks Rank #2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 79.6%, on average. The stock has gained 35.2% in the past year.
 
The Zacks Consensus Estimate for American Outdoor’s fiscal 2025 sales and EPS indicates growth of 3.7% and 93.8%, respectively, from the year-ago levels.

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