MGM Resorts Q4 EPS Soars 150% to $1.60, Revenue Hits $4.61B
MGM Resorts reported Q4 2025 adjusted EPS of $1.60, a 150% beat over estimates, while revenues rose 5.9% year-over-year to $4.61 billion. Segment-adjusted EBITDA climbed 20.2% to $635.3 million, driven by 21% growth in Macau revenues to $1.2 billion.
1. Q4 Financial Results
MGM Resorts delivered adjusted EPS of $1.60 in Q4 2025, surpassing the consensus estimate of $0.64 by 150%. Consolidated revenues rose 5.9% year-over-year to $4.61 billion, and adjusted EBITDA increased 20.2% to $635.3 million.
2. Segment Performance
MGM China led growth with net revenues up 21% to $1.2 billion and segment-adjusted EBITDAR up to $332 million. Las Vegas Strip revenues fell 3% to $2.2 billion due to room renovations, while Regional Operations generated $950 million. MGM Digital revenues jumped 34% to $188 million with EBITDA losses narrowing.
3. Full-Year 2025 Highlights
For full-year 2025, MGM Resorts reported revenues of $17.5 billion versus $17.2 billion in 2024, adjusted EBITDA of $2.43 billion compared with $2.41 billion, and adjusted EPS of $3.31 up from $2.59.
4. Balance Sheet & Share Repurchases
As of Q4 end, cash and equivalents stood at $2.1 billion and long-term debt was $6.23 billion. The company repurchased 15 million shares in Q4 and 37.5 million shares over 2025.