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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenue $ 4,250,464 $ 4,183,138 $ 12,932,416 $ 12,893,983
Expenses        
General and administrative 1,240,178 1,176,726 3,618,767 3,582,376
Corporate expense 125,257 125,043 391,704 378,787
Preopening and start-up expenses 31 519 965 2,469
Property transactions, net 101,775 25,493 117,368 59,124
Goodwill impairment 256,133 0 256,133 0
Depreciation and amortization 260,717 233,330 739,136 621,868
Total expenses 4,388,958 3,876,270 12,294,252 11,643,773
Income (loss) from unconsolidated affiliates 25,642 7,989 38,606 (51,319)
Operating income (loss) (112,852) 314,857 676,770 1,198,891
Non-operating income (expense)        
Interest expense, net of amounts capitalized (102,287) (111,873) (315,140) (334,649)
Non-operating items from unconsolidated affiliates 5,942 417 2,149 2,043
Other, net (10,390) 93,333 (182,826) 45,096
Non-operating income (expense) (106,735) (18,123) (495,817) (287,510)
Income (loss) before income taxes (219,587) 296,734 180,953 911,381
Benefit (provision) for income taxes 12,858 (52,570) (42,857) (84,689)
Net income (loss) (206,729) 244,164 138,096 826,692
Less: Net income attributable to noncontrolling interests (78,526) (59,586) (225,846) (237,566)
Net income (loss) attributable to MGM Resorts International $ (285,255) $ 184,578 $ (87,750) $ 589,126
Earnings (loss) per share        
Basic (in dollars per share) $ (1.05) $ 0.61 $ (0.32) $ 1.90
Diluted (in dollars per share) $ (1.05) $ 0.61 $ (0.32) $ 1.88
Weighted average common shares outstanding        
Basic (in shares) 272,517 300,499 277,610 310,688
Diluted (in shares) 272,517 303,479 277,610 313,852
Casino        
Revenues        
Total revenue $ 2,293,996 $ 2,121,049 $ 6,875,942 $ 6,574,903
Expenses        
Cost of sales 1,321,774 1,205,286 3,899,934 3,698,885
Rooms        
Revenues        
Total revenue 795,236 883,564 2,519,045 2,738,963
Expenses        
Cost of sales 266,767 286,658 819,682 838,915
Food and beverage        
Revenues        
Total revenue 748,597 755,322 2,296,949 2,326,863
Expenses        
Cost of sales 554,554 563,521 1,691,482 1,693,031
Entertainment, retail and other        
Revenues        
Total revenue 412,635 423,203 1,240,480 1,253,254
Expenses        
Cost of sales $ 261,772 $ 259,694 $ 759,081 $ 768,318