MGM Resorts Reports Strong Q4 Revenue Growth Fueled by Digital Expansion

MGM Resorts International has reported impressive financial results for the fourth quarter and full year of 2025, highlighted by a 6% year-over-year increase in consolidated net revenues to $4.6 billion in Q4 alone.

The company's digital operations emerged as the standout performer, generating $188 million in Q4 revenue, a remarkable 35% jump compared to the same period in 2024. This growth underscores the increasing importance of online gambling to traditional casino operators and validates MGM's strategic investment in its BetMGM platform.

Net income nearly doubled in Q4, reaching $294 million compared to $157 million in the prior year period. Consolidated Adjusted EBITDA rose 20% to $635 million, driven by strong performance across the company's diversified portfolio.

While Las Vegas Strip resorts saw a slight 3% revenue decline to $2.2 billion in Q4, this was more than offset by gains elsewhere. Regional operations grew 2% to $950 million, and MGM China posted a substantial 21% increase to $1.2 billion.

For the full year 2025, MGM reported consolidated revenues of $17.5 billion, a 2% increase over 2024. The company returned significant capital to shareholders through more than $1.2 billion in share repurchases.

Looking ahead to 2026, MGM leadership expressed optimism about the completion of renovations at MGM Grand in Las Vegas and continued growth in the Chinese market, suggesting the company's diversified strategy continues to deliver results even when individual segments face headwinds.