v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Total revenue $ 17,537,683 $ 17,240,545 $ 16,164,249
Expenses      
General and administrative 4,877,538 4,825,313 4,700,657
Corporate expense 556,952 520,197 512,399
Preopening and start-up expenses 1,086 7,972 415
Property transactions, net 126,036 81,316 (370,513)
Goodwill impairment 278,927 0 0
Depreciation and amortization 1,017,794 831,097 814,128
Total expenses 16,605,885 15,659,436 14,210,648
Income (loss) from unconsolidated affiliates 69,982 (90,653) (62,104)
Operating income 1,001,780 1,490,456 1,891,497
Non-operating income (expense)      
Interest expense, net of amounts capitalized (419,042) (443,230) (460,293)
Non-operating items from unconsolidated affiliates 1,135 (734) (1,032)
Other, net (303,094) 70,573 42,591
Total non-operating income (expense) (721,001) (373,391) (418,734)
Income before income taxes 280,779 1,117,065 1,472,763
Benefit (provision) for income taxes 240,093 (52,457) (157,839)
Net income 520,872 1,064,608 1,314,924
Less: Net income attributable to noncontrolling interests (315,010) (318,050) (172,744)
Net income attributable to MGM Resorts International $ 205,862 $ 746,558 $ 1,142,180
Earnings per share      
Basic (in dollars per share) $ 0.77 $ 2.42 $ 3.22
Diluted (in dollars per share) $ 0.76 $ 2.40 $ 3.19
Weighted average common shares outstanding      
Basic (in shares) 275,046 307,408 354,926
Diluted (in shares) 277,275 310,232 358,627
Casino      
Revenues      
Total revenue $ 9,450,887 $ 8,785,649 $ 8,087,917
Expenses      
Cost of sales 5,340,097 4,958,020 4,316,547
Rooms      
Revenues      
Total revenue 3,377,400 3,681,617 3,500,926
Expenses      
Cost of sales 1,101,061 1,119,108 1,017,650
Food and beverage      
Revenues      
Total revenue 3,045,965 3,078,731 2,891,483
Expenses      
Cost of sales 2,262,434 2,253,031 2,153,795
Entertainment, retail and other      
Revenues      
Total revenue 1,663,431 1,694,548 1,683,923
Expenses      
Cost of sales $ 1,043,960 $ 1,063,382 $ 1,065,570