MGM Resorts' annual revenue decreases by 2%, reaching $4.3 billion compared to the previous year.
Hitting the Jackpot: A Closer Look at MGM Resorts' Q1 2025 Earnings
proposes an inside scoop on MGM Resorts' impressive first-quarter performance this year. Here's the lowdown on their sizzling success!
Eye-Catching Figures
MGM Resorts enchanted investors and analysts alike with their revenue of $4.3 billion for Q1 2025, despite a decrease of 2% compared to the same period last year. Hiding beneath the drapes of this minor dip, the company's sports betting and iGaming ventures, particularly its joint venture, BetMGM, demonstrated considerable growth.
BetMGM's Q1 2025 Rise
In the gaming world, BetMGM is quickly turning heads with their energized performance. The joint venture accounted for a total net revenue of $657 million in Q1 2025, representing a whopping 34% increase compared to the same period last year.
- iGaming: $443 million in net revenue, marking a surge of 27% from Q1 2024.
- Online Sports Betting: $194 million in net revenue, showing a notable 68% climb from the previous year.
BetMGM's EBITDA also made considerable strides, improving from a loss of $132 million in Q1 2024 to a commendable $22 million in Q1 2025.
Operational Metrics Highlights
This transfiguring journey for BetMGM was bolstered by various crucial operational metrics:
- Sports betting handle: A mind-boggling 29% increase, hitting $4,088 million, compared to $3,174 million in Q1 2024.
- Gross gaming revenue (GGR) hold percentage: Decreased by a slight margin to 8.2%, from 8.7% in Q1 2024. However, net gaming revenue (NGR) hold made a substantial leap, climbing to 4.8% compared to 3.6% in Q1 2024.
- Average monthly active users: Stepped up by 6% to approximately 1.067 million compared to 1.009 million in Q1 2024.
MGM Resorts' Q1 2025: In a Nutshell
MGM Resorts' remarkable Q1 2025 performance was largely influenced by BetMGM's substantial growth in both the iGaming and sports betting segments. As the gambling industry continues to evolve, MGM Resorts, and BetMGM, stand firmly at the forefront, leaving their rivals in the dust.
- The impressive first-quarter earnings of MGM Resorts in 2025, totaling $4.3 billion, show a minor dip of 2% compared to the same period last year, but their joint venture, BetMGM, brings a ray of hope with significant growth.
- In the rapidly changing casino-and-gambling industry, BetMGM is gaining traction with a 34% increase in net revenue for Q1 2025, surpassing the same period in the previous year.
- The iGaming and online sports betting ventures of BetMGM witnessed substantial growth, with iGaming raking in $443 million in net revenue, showing a 27% increase from Q1 2024, and online sports betting garnering $194 million in net revenue, rising 68% year-over-year.
- Furthermore, BetMGM's EBITDA improved markedly, transitioning from a loss of $132 million in Q1 2024 to a commendable $22 million in Q1 2025.
- MGM Resorts, particularly BetMGM, are redefining the casino-culture landscape in Las Vegas and the broader industry, demonstrating their strength and resilience in an ever-evolving market.
