MGM Resorts Reports Record-Breaking Full Year Financial Results
MGM Resorts International announced its financial results for the year ended December 31, 2024. The Company reported a significant increase in consolidated net revenues, marking a new record for the organization.
MGM China’s Exceptional Performance
According to Bill Hornbuckle, Chief Executive Officer & President of MGM Resorts International, “MGM China was the primary driver behind this impressive financial performance.”
MGM China reported a Segment Adjusted EBITDAR of $1.1 billion for the full year, representing a substantial 25% increase compared to the previous year.
MGM Resorts’ Share Repurchase Program
In addition to its strong business performance, MGM Resorts also announced that it had repurchased over 33 million shares in 2024. This significant repurchase reduced the Company’s outstanding shares by more than 40% since 2021.
BetMGM’s Growth Trajectory
MGM Resorts’ digital gaming subsidiary, BetMGM, experienced accelerated revenue growth throughout 2024, and the Company expects BetMGM to become profitable by 2025.
Impact on Individuals
For individual investors, MGM Resorts’ strong financial performance and share buyback program could lead to increased stock value and potentially higher returns on investment.
As for consumers, the continued growth of BetMGM could result in expanded online gaming options and more competitive pricing in the digital gaming market.
Impact on the World
MGM Resorts’ record financial results and growth trajectory could have a ripple effect on the global gaming industry, potentially leading to increased competition and innovation in the sector.
Additionally, the continued growth of online gaming platforms like BetMGM could result in increased regulation and scrutiny from governments and regulatory bodies, as well as potential changes to gambling laws and policies.
Conclusion
MGM Resorts International reported record-breaking full year financial results, driven by exceptional performance from MGM China and the growth trajectory of its digital gaming subsidiary, BetMGM. These developments could result in significant impacts for both individual investors and the global gaming industry as a whole.
- MGM Resorts reported record consolidated net revenues of $17.2 billion for the full year
- MGM China achieved a Segment Adjusted EBITDAR of $1.1 billion, a 25% increase from the previous year
- MGM Resorts repurchased over 33 million shares in 2024, reducing outstanding shares by over 40% since 2021
- BetMGM is expected to become profitable by 2025
- Individual investors could see increased stock value and potential higher returns on investment
- The continued growth of online gaming platforms like BetMGM could lead to increased regulation and potential changes to gambling laws and policies
