The MGM Resorts International's Q1 2025 financial and operating results show a strengthening position, notwithstanding a 2% YoY revenue dip to $4.3 billion. BetMGM continued to generate robust growth. Strong earnings led to profit beat and a $2 billion buyback, lifting MGM stock price, with Barclays and Susquehanna raising their price targets. The company also places high stakes on digital innovation and strategic wins. However, recent moves like service and staff cuts in Las Vegas, as well as some increased fees have a mixed reception. MGM’s preparedness for the remainder of 2025 was emphasized in the earnings call. Despite a revenue drop, solid EBITDA performance and record Las Vegas slot revenue were reported. In other developments, MGM, facing an $8.5M fine over money laundering issues, admitted room for improvement. The company also announced the MGM RewardsTM Iconic World Elite Mastercard® in association with FNBO, Mastercard®. Yet, there is speculation about MGM eyeing Dubai for a UAE resort and ongoing discussions on the Springfield casino. The partnership announcements, such as a multi-year agreement with Cisco and a collaborative dining experience with Netflix, show positive forward movement.
Mgm Resorts International MGM News Analytics from Mon, 21 Oct 2024 07:00:00 GMT to Sat, 03 May 2025 18:27:16 GMT -
Rating 5
- Innovation 8
- Information 8
- Rumor -1
