v3.25.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
Three Months Ended
June 30,		Six Months Ended
June 30,
 202520242025 2024
Net revenue(In thousands)
Las Vegas Strip Resorts
Casino$456,581 $484,739 $994,840 $982,287 
Rooms734,850 767,294 1,484,899 1,594,547 
Food and beverage584,948 624,241 1,170,987 1,223,522 
Entertainment, retail and other338,313 329,188 640,086 660,135 
2,114,692 2,205,462 4,290,812 4,460,491 
Regional Operations
Casino710,115 684,037 1,382,090 1,369,005 
Rooms79,813 78,532 146,538 144,465 
Food and beverage115,575 111,906 224,656 219,659 
Entertainment, retail and other59,109 52,663 111,747 103,488 
964,612 927,138 1,865,031 1,836,617 
MGM China
Casino977,397 891,241 1,873,249 1,811,289 
Rooms45,738 53,171 92,372 116,386 
Food and beverage77,656 65,991 152,709 128,360 
Entertainment, retail and other9,302 7,788 19,235 18,173 
1,110,093 1,018,191 2,137,565 2,074,208 
MGM Digital
Casino163,861 143,347 291,919 270,955 
Reportable segment net revenues4,353,258 4,294,138 8,585,327 8,642,271 
Corporate and other51,612 33,237 96,625 68,574 
 $4,404,870 $4,327,375 $8,681,952 $8,710,845 
Three Months Ended
June 30,		Six Months Ended
June 30,
 202520242025 2024
Expenses(In thousands)
Las Vegas Strip Resorts
Payroll related$666,550 $658,503 $1,328,296 $1,302,086 
Cost of sales129,926 134,154 257,683 269,342 
Gaming taxes53,824 56,447 113,034 114,391 
Other segment items(1)
553,896 574,069 1,070,143 1,164,595 
1,404,196 1,423,173 2,769,156 2,850,414 
Regional Operations
Payroll related232,239 228,127 461,186 455,365 
Cost of sales40,847 40,707 78,061 80,051 
Gaming taxes195,672 189,300 380,386 375,296 
Other segment items(1)
187,198 180,626 357,700 363,425 
655,956 638,760 1,277,333 1,274,137 
MGM China
Payroll related154,776 140,744 299,984 273,910 
Cost of sales27,350 23,624 54,850 45,974 
Gaming taxes500,143 447,914 948,919 926,233 
Other segment items(1)
126,482 112,046 246,905 233,042 
808,751 724,328 1,550,658 1,479,159 
MGM Digital
Payroll related32,854 19,122 62,391 39,491 
Marketing costs67,002 65,298 124,795 124,332 
Gaming taxes39,564 30,735 70,189 59,549 
Other segment items(2)
50,139 42,128 94,635 80,309 
$189,559 $157,283 $352,010 $303,681 
(1) Other segment items primarily include corporate allocations, service provider costs, promotional expense, and other miscellaneous expenses.
(2) Other segment items primarily include third party game provider fees, service provider costs, and other miscellaneous expenses.
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
(In thousands)
Segment Adjusted EBITDAR
Las Vegas Strip Resorts$710,496 $782,289 $1,521,656 $1,610,077 
Regional Operations 308,656 288,378 587,698 562,480 
MGM China301,342 293,863 586,907 595,049 
MGM Digital(25,698)(13,936)(60,091)(32,726)
1,294,796 1,350,594 2,636,170 2,734,880 
 
Other operating income (expense)
Corporate and other, net(108,726)(117,260)(235,675)(238,894)
Preopening and start-up expenses(849)(855)(934)(1,950)
Property transactions, net (125)(16,477)(15,593)(33,631)
Depreciation and amortization(241,975)(191,976)(478,419)(388,538)
Triple net lease rent expense(564,416)(564,186)(1,128,891)(1,128,525)
Income (loss) from unconsolidated affiliates25,860 (34,184)12,964 (59,308)
Operating income404,565 425,656 789,622 884,034 
Non-operating income (expense)
Interest expense, net of amounts capitalized(105,584)(112,739)(212,853)(222,776)
Non-operating items from unconsolidated affiliates(4,055)1,762 (3,793)1,626 
Other, net(161,170)(43,431)(172,436)(48,237)
(270,809)(154,408)(389,082)(269,387)
Income before income taxes133,756 271,248 400,540 614,647 
Benefit (provision) for income taxes(15,662)11,554 (55,715)(32,119)
Net income118,094 282,802 344,825 582,528 
Less: Net income attributable to noncontrolling interests(69,143)(95,730)(147,320)(177,980)
Net income attributable to MGM Resorts International$48,951 $187,072 $197,505 $404,548 

 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Capital expenditures:(In thousands)
Las Vegas Strip Resorts$120,131 $139,795 $225,369 $242,780 
Regional Operations41,253 26,929 63,870 46,761 
MGM China51,583 25,145 111,319 40,529 
MGM Digital21,417 12,985 39,854 24,754 
Reportable segment capital expenditures234,384 204,854 440,412 354,824 
Corporate and other34,058 33,388 56,071 55,498 
 $268,442 $238,242 $496,483 $410,322