{"id":3454,"date":"2025-05-01T11:18:22","date_gmt":"2025-05-01T11:18:22","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3454"},"modified":"2025-05-01T11:18:22","modified_gmt":"2025-05-01T11:18:22","slug":"mgm-resorts-sees-modest-dip-in-q1-revenue-looks-ahead-with-confidence","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/mgm-resorts-sees-modest-dip-in-q1-revenue-looks-ahead-with-confidence","title":{"rendered":"MGM Resorts Sees Modest Dip in Q1 Revenue, Looks Ahead with Confidence"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2017\/01\/mgm-resorts-international.jpg\" alt=\"MGM Resorts International\" class=\"alignleft size-full wp-image-642\" width=\"300\" title=\"MGM Resorts Sees Modest Dip in Q1 Revenue, Looks Ahead with Confidence\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>MGM Resorts\u2019 Q1 2025 revenue dropped 2% year-over-year, partly due to the absence of a Super Bowl boost.<\/li>\n<li>MGM\u2019s partnership with Marriott drove over 440,000 room nights through April. <\/li>\n<li>Major remodels and expansion plans, NYC &#038; Japan confirmed.<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/www.casinousa.com\/news\/mgm-resorts-international-files-lawsuit-against-federal-trade-commission-over-cyberattack-investigation-issues\">MGM Resorts International<\/a><\/strong> reported a 2% decline in revenue for the first quarter of 2025, bringing in $4.3 billion compared to last year\u2019s $4.4 billion. <\/p>\n<p>The company correlates much of the drop to an unusual boost in Q1 2024, when Las Vegas hosted the Super Bowl, a major event that drove significant traffic to MGM\u2019s Strip properties.<\/p>\n<h2 id=\"mgm-execs-stay-confident\">MGM Execs Stay Confident<\/h2>\n<p>Despite the slight decrease in revenue, MGM executives expressed confidence in the company\u2019s momentum, which is mostly driven by the growing partnership with Marriott International. <\/p>\n<p>The alliance, formed in 2023, connects MGM\u2019s properties with Marriott\u2019s loyalty program, which boasts over 180 million members. So far, that relationship is paying off.<\/p>\n<p>CFO <strong>Jonathan Halkyard<\/strong><\/p>\n<blockquote><p>We already have, just through April, 440,000 room nights that have been booked. You do the math. That\u2019s over 20,000 rooms a night that are being booked through the Marriott channel. And these are customers that we think are very accretive compared to the customers that they\u2019ve replaced<\/p><\/blockquote>\n<h2 id=\"important-financial-moves\">Important Financial Moves<\/h2>\n<p>MGM also made aggressive moves on the financial front, significantly expanding its stock buyback activity. <\/p>\n<p>The company repurchased nearly 15 million shares in Q1 for about $494 million and an additional 8 million shares in April for another $215 million. The board also greenlit up to $2 billion in future repurchases.<\/p>\n<p>Adjusted EBITDA for the quarter landed at $637 million, slightly down from $673 million a year ago. Net income came in at $149 million, a decrease from $217 million in Q1 2024, which MGM attributes to lower revenue levels.<\/p>\n<p>While global economic uncertainty remains a concern for some, MGM CEO <strong>Bill Hornbuckle<\/strong> maintained a steady tone. <\/p>\n<p>He dismissed suggestions that <a href=\"https:\/\/www.casinousa.com\/news\/digital-casino-stocks-more-resilient-as-new-tariffs-shake-the-market\">potential tariffs proposed by President Trump<\/a> would delay major renovations or construction.<\/p>\n<blockquote><p>Those are biggest things that I think could be tariff-related we\u2019ll have to pay close attention to, but unless something happens more macro with the environment and our balance sheet, we wouldn\u2019t change our thinking around those significant remodels<\/p><\/blockquote>\n<p> Hornbuckle said, referring to work planned at the Aria and Cosmopolitan.<\/p>\n<p>On longer-term projects like a potential casino license in New York or <a href=\"https:\/\/www.casinousa.com\/news\/mgm-resorts-likely-to-join-local-consortium-for-japan-casino-bid\">MGM\u2019s development in Japan<\/a>, Hornbuckle said there\u2019s been no shift in strategy. <\/p>\n<blockquote><p>It is of interest\u2014we watch where the others are going. We\u2019ll take a unique position.<\/p><\/blockquote>\n<p>Meanwhile, international travel trends are holding steady. COO <strong>Cory Sanders<\/strong> noted that while leisure and Canadian segments are down, high-end international business remains strong. \u201c<em>Actually, we just had an amazing event in April<\/em>\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Summary: MGM Resorts\u2019 Q1 2025 revenue dropped 2% year-over-year, partly due to the absence of a Super Bowl boost. MGM\u2019s partnership with Marriott drove over 440,000 room nights through April. Major remodels and expansion plans, NYC &#038; Japan confirmed. MGM Resorts International reported a 2% decline in revenue for the first quarter of 2025, bringing [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3454","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MGM Resorts Sees Modest Dip in Q1 Revenue, Looks Ahead with Confidence<\/title>\n<meta name=\"description\" content=\"MGM Resorts reported a slight revenue decline in Q1 2025, but executives remain optimistic thanks to strong Marriott bookings, share buybacks, and steady progress on key development projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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