MGM Resorts said consolidated net revenues for 2024 increased 7% compared to 2023, with MGM China and MGM Digital each increasing 28%. Consolidated operating income decreased 21%, which the company attributed to a $399 million gain on the sale of Gold Strike Tunica operations in the prior year and increases in payroll and other expenses.

1. 01

   MGM Resorts said consolidated net revenues for 2024 increased 7% compared to 2023, with MGM China and MGM Digital each increasing 28%. Consolidated operating income decreased 21%, which the company attributed to a $399 million gain on the sale of Gold Strike Tunica operations in the prior year and increases in payroll and other expenses.

2. 02

   MGM Digital net revenues increased 28% in 2024, the company said, but Segment Adjusted EBITDAR loss was $77 million in 2024, compared to $32 million in 2023. It cited increased marketing costs from entry into new markets as the reason.

3. 03

   Cash provided by operating activities was $2.4 billion in 2024, down from $2.7 billion in 2023, MGM Resorts said. Cash used in investing activities was $1.3 billion, including capital expenditures of $1.2 billion, and cash used in financing activities was $1.6 billion.

4. 04

   The company paid $1.4 billion for repurchases of its common stock in 2024, and as of December 31, 2024, the remaining authorization under the $2.0 billion repurchase plan announced in November 2023 was $826 million. On the same date, cash and cash equivalents were $2.4 billion and debt principal was $6.4 billion.

Key figures

Fiscal year ended December 31, 2024

Revenue

$17.2B

Operating income

$1.5B

Net income

$747M

EPS

$2.40

Operating cash flow

$2.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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