Filing Flows › MGM Resorts International (MGM) › Q2 2025
MGM Resorts International (MGM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
MGM Resorts International (MGM) reported revenue of $4.4B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +3% from the quarter before. Operating margin was 9.2%, net earnings $49.0M (1.1% of revenue).
MGM Resorts International, Q2 2025: revenue $4.4B (+2% year over year), operating margin 9.2%, net earnings $49.0M, operating cash flow $646M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +3% | +2% |
| Operating profit | $405M | +5% | -5% |
| Net earnings | $49.0M | -67% | -74% |
| Operating cash flow | $646M | +18% | +36% |
| Free cash flow | $377M | +18% | +60% |
What changed
Revenue was $4.4B in Q2 2025, up 2% year over year and up 3% from the previous quarter. Casino was the largest line at 53% of revenue. Casino added $0.12B year over year (up 5%), 151% of the total change. Rooms declined 4%.
Operating profit was $0.40B, a 9.2% margin (down 0.7 points year over year). Operating profit fell $0.02B even though revenue rose $0.08B versus a year earlier, so costs grew faster than sales. Total costs grew 3% against revenue growth of 2%. Net earnings were $0.05B, down 74% year over year. The effective tax rate was 11.7%.
Operating cash flow was $0.65B (up 36% year over year), 547% of net income including minority interests. Non-cash charges added back $0.24B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.27B. Capital expenditures of $0.27B left free cash flow of $0.38B.
Questions
What was MGM Resorts International's revenue in the second quarter 2025?
MGM Resorts International (MGM) reported revenue of $4.4B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +3% from the quarter before.
Was MGM Resorts International profitable in the second quarter 2025?
Operating profit was $405M (9.2% of revenue) and net earnings $49.0M.