MGM Resorts International
- Open
- 46.65
- Day high
- 47.10
- Day low
- 46.30
- Prev close
- 46.84
- Volume
- 1.7M
- Mkt cap
- $12.0B
- P/E (TTM)
- 64.2
- EPS (TTM)
- $0.73
- P/B
- 4.9
- P/S
- 0.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$257K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
MGM Resorts International (MGM) is a Consumer Cyclical company listed on NYSE. The stock is up 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 2 published research articles covering MGM.
MGM Resorts International (MGM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MGM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.56 | $0.49 | -12.5% | $4.5B | +2.0% |
| Feb 5, 2026 | $0.64 | $1.60 | +150.0% | $4.6B | +3.7% |
| Oct 29, 2025 | $0.37 | $0.24 | -35.1% | $4.3B | -3.8% |
| Jul 30, 2025 | $0.58 | $0.79 | +36.2% | $4.4B | +3.7% |
| Apr 30, 2025 | $0.50 | $0.69 | +38.0% | $4.3B | -0.2% |
| Feb 12, 2025 | $0.37 | $0.45 | +21.6% | $4.3B | +1.9% |
| Oct 30, 2024 | $0.61 | $0.54 | -11.5% | $4.2B | -2.9% |
| Jul 31, 2024 | $0.66 | $0.86 | +30.3% | $4.3B | +1.8% |
| May 1, 2024 | $0.56 | $0.74 | +32.1% | $4.4B | +3.3% |
| Feb 13, 2024 | $0.71 | $1.06 | +49.3% | $4.4B | +5.7% |
| Aug 2, 2023 | $0.54 | $0.59 | +9.3% | $3.9B | +3.2% |
| May 1, 2023 | $0.10 | $0.44 | +325.1% | $3.9B | +7.9% |
MGM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | LEVIN JOSEPHdirector | Grant | 732 | — |
| Jul 2, 2026 | Meister Keith A.director | Grant | 837 | — |
| Jul 2, 2026 | Fritz Gary Mofficer: President, Interactive | Option | 2,259 | — |
| Jul 2, 2026 | SALEM PAUL Jdirector | Grant | 2,039 | — |
| Jul 2, 2026 | Fritz Gary Mofficer: President, Interactive | Tax | 903 | $47.52 |
| May 26, 2026 | TAYLOR DANIEL Jdirector | Sell | 6,675 | $38.44 |
| May 8, 2026 | Langley Donnadirector | Grant | 6,298 | — |
| May 8, 2026 | Mckinney-James Rosedirector | Grant | 6,298 | — |
| May 8, 2026 | Swartz Janetdirector | Grant | 6,298 | — |
| May 8, 2026 | Mckinney-James Rosedirector | Option | 3,337 | — |
| May 8, 2026 | SALEM PAUL Jdirector | Grant | 6,298 | — |
| May 8, 2026 | Mckinney-James Rosedirector | Option | 3,338 | — |
| May 8, 2026 | Langley Donnadirector | Option | 6,675 | — |
| May 8, 2026 | Barr Keithdirector | Grant | 6,298 | — |
| May 8, 2026 | LEVIN JOSEPHdirector | Grant | 6,298 | — |
Source: MGM SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full MGM insider & 13F page →MGM research & analysis
MGM Diller Bid: $48.30/Share + Market Signals $54-58 Final
Barry Diller's $48.30/share bid for MGM is already trading toward $54-58 implied final. LVS, WYNN, CZR, BYD reprice on the gaming-consolidation read.
LVSWYNNCZRMGM: IAC Name Change Unlocks BetMGM Stake Value
IAC's April 28 rebrand to People Incorporated removes the conglomerate discount by explicitly positioning the company as a two-asset operator: a thriving digital publisher (10 consecutive quarters of growth, 37.5% Q4 2025 EBITDA margins) and a 25.5% stake in MGM Resorts worth $2.4 billion. The $40 million annual cost savings from consolidating corporate functions will expand margins, while the simplified structure should force sell-side models to reprice the company higher over 6-12 months as the market recognizes the underlying value of its two non-correlated assets.
IAC
MGM Resorts International company profile
Overview
MGM Resorts International (NYSE:MGM) is a leading hospitality and entertainment company that owns and operates casino resorts, hotels, and entertainment venues primarily in the United States and Macau. Founded in 1986 and formerly known as MGM MIRAGE until 2010, the company has grown from its Las Vegas roots to become one of the world's largest gaming and hospitality enterprises. Today, MGM operates a portfolio of 29 hotel and destination gaming properties, with flagship resorts on the Las Vegas Strip including Bellagio, MGM Grand, and ARIA, alongside regional properties across the United States and integrated resorts in Macau, China.
Business
MGM Resorts operates in the integrated resort and gaming industry, which combines casino gaming with hospitality, entertainment, dining, and convention services under one roof. The company's business is structured around three primary segments that generated approximately $17.2 billion in total revenue in 2024. Las Vegas Strip Resorts represents the company's crown jewel, accounting for roughly 60% of total revenues. This segment includes iconic properties like Bellagio with its famous fountains, MGM Grand (one of the world's largest hotels), ARIA, The Cosmopolitan, and several other luxury resorts. These properties offer premium gaming floors with slot machines and table games, luxury hotel accommodations, world-class dining from celebrity chefs, entertainment venues hosting major shows and concerts, convention and meeting spaces, and high-end retail shopping. Regional Operations comprises approximately 25% of revenues and includes casino properties in markets like Detroit, Mississippi, Maryland, Massachusetts, Ohio, and other states. These properties typically serve local and regional customers and offer similar amenities to Las Vegas properties but on a smaller scale, focusing on gaming, dining, and entertainment for their respective regional markets. MGM China generates about 15% of total revenues through its operations in Macau, the world's largest gaming market. MGM operates MGM Macau and MGM Cotai, two integrated resorts that cater primarily to Chinese customers seeking premium gaming experiences. Macau is significant because it's the only region in China where casino gaming is legal, making it a crucial destination for Chinese gamblers. The company also operates BetMGM, its digital sports betting and online casino platform, which has expanded to 29 U.S. markets. While still a smaller revenue contributor, this segment represents MGM's growth into the rapidly expanding online gaming market, offering sports betting, online slots, poker, and other digital gaming products.
Revenue model
MGM Resorts generates revenue through multiple streams within its integrated resort model. Gaming revenue comes from slot machines, table games like blackjack and baccarat, poker rooms, and sports betting, where the company profits from the mathematical house edge built into games and betting odds. Hotel revenue is generated through room bookings, with the company able to command premium rates due to its luxury positioning and prime locations. Food and beverage operations include restaurants, bars, nightclubs, and room service across all properties. Entertainment revenue comes from ticket sales to shows, concerts, and events hosted at their venues. Convention and meeting revenue is earned by renting space and providing services to business groups and conventions. The company's customers include premium gaming customers who generate high-value gaming revenue, leisure travelers seeking entertainment and vacation experiences, business travelers and corporate groups attending meetings and conventions, and increasingly, digital customers using BetMGM's online platforms. Several factors significantly impact MGM's profitability margins. Economic conditions directly affect discretionary spending on travel and entertainment, with recessions typically reducing customer visits and spending. Competition from other casino operators, particularly in Las Vegas and regional markets, can pressure both customer acquisition and pricing power. Regulatory changes in gaming laws, tax rates, and licensing requirements can substantially impact operations and profitability. Tourism trends and international travel patterns, especially from China to Macau, significantly affect revenue. Major events like Formula 1 races, Super Bowl, and conventions can drive substantial incremental revenue during peak periods. Labor costs represent a significant expense, with union negotiations and minimum wage changes affecting margins. Energy and commodity prices impact operational costs across the large resort properties.
Risks & safety
MGM demonstrates a moderate margin of safety with strong liquidity but elevated leverage levels that require monitoring. • Liquidity Position: Strong with $2.4 billion in cash and short-term investments as of Q1 2025, providing substantial operational flexibility and ability to weather economic downturns. • Debt Levels: High debt-to-equity ratio of 11.0x indicates significant leverage, though this is partially offset by the asset-heavy nature of the business and stable cash flows from operations. • Cash Generation: Solid free cash flow of $1.2 billion in 2024 demonstrates the business's ability to generate cash after capital expenditures, supporting debt service and shareholder returns. • Valuation Metrics: Trading at 14.3x P/E ratio and 15.4x EV/EBITDA, suggesting reasonable valuation relative to earnings, though not deeply discounted. • Operational Risks: Exposure to economic cycles, regulatory changes in gaming markets, and geopolitical risks in Macau create potential volatility in cash flows. • Capital Allocation: Aggressive share repurchase program has reduced share count by nearly 45%, though this also contributes to higher leverage ratios.
Recent development
Over the past few years, MGM has executed several strategic pivots to diversify revenue streams and reduce dependence on traditional gaming. The company's digital transformation has been a major focus, with BetMGM achieving profitability in 2024 and expanding to 29 U.S. markets. The platform generated $22 million in EBITDA in Q1 2025, representing a $150 million improvement from the prior year, while the company simultaneously launched MGM Digital in Brazil and expanded internationally through its LeoVegas acquisition. The strategic partnership with Marriott International has exceeded expectations, with 440,000 room nights booked through April 2025 and generating premium room rates and increased on-property spending. This partnership represents a significant shift toward leveraging MGM's hospitality assets beyond traditional gaming customers. MGM has pursued an aggressive $200 million EBITDA enhancement program, targeting operational efficiencies and cost optimization across its portfolio, with over $150 million expected to be implemented in 2025. The company has also been investing heavily in property renovations, particularly at flagship Las Vegas properties like MGM Grand and Bellagio, to maintain their competitive positioning in the luxury market. International expansion efforts include progressing on the Osaka, Japan integrated resort project with a total equity commitment of ¥428 billion, preparing for New York gaming license submissions, and exploring opportunities in the UAE and Thailand. In Macau, MGM has focused on non-gaming revenue diversification by launching entertainment shows and art museums to attract broader customer segments beyond traditional gaming. The company has maintained an aggressive capital return strategy, repurchasing nearly 45% of outstanding shares while simultaneously investing in growth initiatives, reflecting management's confidence in the business model and belief that shares are undervalued.
MGM company profile · for informational purposes only — not investment advice.
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