MGM Resorts announced its first quarter financial results on Wednesday, revealing a complex performance defined by strong growth in international and digital markets despite some challenges in its domestic operations. The company reported consolidated net revenue of 4.5 billion dollars for the period, marking a 4 percent increase compared to the previous year. This growth was primarily driven by a significant recovery in Macau and an expanding digital footprint.
In the Las Vegas segment, MGM Resorts saw revenue reach 2.2 billion dollars. While this represented the first year over year increase for the market since 2024, the gain was minimal at approximately 4 million dollars. Furthermore, the adjusted earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs for the Las Vegas operations fell by 8 percent to 749 million dollars. Casino revenue and gaming metrics such as table games win and slot win also experienced slight declines. Company leadership noted that while luxury brands remain resilient, there are ongoing efforts to attract budget conscious travelers through new all inclusive packages at properties like Luxor and Excalibur.
The Macau operations provided a more robust performance for MGM during the quarter. Revenue for MGM China rose 9 percent to 1.1 billion dollars, bolstered by high visitation during the Chinese New Year holiday. Table games win in this region surpassed 1 billion dollars, an 18 percent jump over the prior year. Management expressed confidence in their market position in Macau and noted that their development project in Osaka, Japan remains on schedule for a 2030 opening.
The digital division of MGM Resorts, which includes the LeoVegas subsidiary, showed substantial momentum. Digital revenue growth 43 percent year over year to 183 million dollars. Although the segment still operates at a loss, the deficit narrowed during the quarter. Executives indicated that the company is on a path toward digital profitability, with expectations to approach break even status by 2027.
On the corporate side, MGM Resorts continued its share repurchase program, buying back 90 million dollars in stock during the first quarter. Total liabilities remained stable at 38 billion dollars. Despite the revenue increase, net income for the quarter decreased 16 percent to 125 million dollars. The company remains focused on navigating shifting consumer behaviors in the United States while capitalizing on international expansion opportunities.
