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MGM Resorts logoMGM Resorts MGM

MGM Resorts said it reported consolidated net revenues of Q4 2025 of $4.6 billion, up 6% from the prior year, net income attributable to MGM Resorts of $294 million, and Consolidated Adjusted EBITDA of $635 million, up 20%.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. MGM Resorts said it reported consolidated net revenues of Q4 2025 of $4.6 billion, up 6% from the prior year, net income attributable to MGM Resorts of $294 million, and Consolidated Adjusted EBITDA of $635 million, up 20%.

  2. The company reported diluted earnings per share of $1.11 and Adjusted EPS of $1.60 for Q4. It said the current quarter included a non-cash income tax benefit of $277 million resulting from a decrease in the valuation allowance on foreign tax credit carryforwards.

  3. MGM Resorts reported Las Vegas Strip Resorts net revenues of $2.2 billion for Q4, down 3%; MGM China net revenues of $1.2 billion, up 21%; and Segment Adjusted EBITDAR of $332 million, up 30%.

  4. The company said it repurchased approximately 15 million shares of its common stock for $516 million in Q4 2025. It said the remaining availability under the April 2025 repurchase plan was $1.6 billion as of December 31, 2025, and that it received $135 million in distributions from the BetMGM North America Venture in Q4.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

MGM Resorts Q4 Consolidated Results

MGM Resorts said it reported consolidated net revenues of Q4 2025 of $4.6 billion, up 6% from the prior year, net income attributable to MGM Resorts of $294 million, and Consolidated Adjusted EBITDA of $635 million, up 20%.

Source · Based on the filing body and exhibits

Q4 Income Tax Benefit and Adjusted EPS

The company reported diluted earnings per share of $1.11 and Adjusted EPS of $1.60 for Q4. It said the current quarter included a non-cash income tax benefit of $277 million resulting from a decrease in the valuation allowance on foreign tax credit carryforwards.

Source · Based on the filing body and exhibits

Regional Operations Q4 Results

MGM Resorts reported Las Vegas Strip Resorts net revenues of $2.2 billion for Q4, down 3%; MGM China net revenues of $1.2 billion, up 21%; and Segment Adjusted EBITDAR of $332 million, up 30%.

Source · Based on the filing body and exhibits

Share Repurchases and BetMGM Distributions

The company said it repurchased approximately 15 million shares of its common stock for $516 million in Q4 2025. It said the remaining availability under the April 2025 repurchase plan was $1.6 billion as of December 31, 2025, and that it received $135 million in distributions from the BetMGM North America Venture in Q4.

Source · Based on the filing body and exhibits

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.