MGM Resorts reported a strong second quarter driven by record group business in Las Vegas, record regional revenue, and growth in digital. Management highlighted stabilization in Vegas, a rebound in Macau post-World Cup, and progress on major projects like Osaka. The tone was optimistic, emphasizing ongoing investments in luxury and digital to drive long-term growth. Las Vegas Strip revenue and EBITDA grew year-over-year, supported by a record quarter for convention business and strong event calendar.
MGM Resorts reported a strong second quarter driven by record group business in Las Vegas, record regional revenue, and growth in digital. Management highlighted stabilization in Vegas, a rebound in Macau post-World Cup, and progress on major projects like Osaka. The tone was optimistic, emphasizing ongoing investments in luxury and digital to drive long-term growth. Las Vegas Strip revenue and EBITDA grew year-over-year, supported by a record quarter for convention business and strong event calendar.
Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
Record Q2 consolidated revenue driven by strong Las Vegas, regionals, and digital growth.. Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
Record Q2 consolidated revenue driven by strong Las Vegas, regionals, and digital growth.. Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
Record Q2 consolidated revenue driven by strong Las Vegas, regionals, and digital growth.. Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
Record Q2 consolidated revenue driven by strong Las Vegas, regionals, and digital growth.. Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
Management is investing in luxury upgrades across Las Vegas (Bellagio, Aria, Cosmopolitan), regional properties (Borgata, Beau Rivage), and Macau (suite renovations, premium gaming areas), with a strategic focus on enhancing high-end offerings. In Japan, the Osaka project remains on time and budget, with planned spending of approximately $1 billion in each of 2027 and 2028.
Management expresses confidence in the business momentum, highlighting record revenue in multiple segments, a strong group pipeline, and positive outlook for future growth.
“weekly performance has improved week over week. We believe Macau, like Guinea-Royal Avenue last week, the entire market had recovered nearly to Q1 levels”
“Half of the participants in this package are brand new”
“We collectively are down three and a half million visitors from our all-time peak”
MGM is seeing a strong recovery in Macau in July, with weekly performance improving week-over-week and normalized GGR already exceeding Q1 levels, driven by pent-up demand after the World Cup. — This indicates a broader Macau market recovery that could positively impact other casino operators in the region.
Yeah, I think I want to see, like Bill, like we are seeing pent-up demand from World Cup period. Actually, both visitations and even the business volumes have strongly picked up since even the second week of July, when there were still a few matches remaining before the end of the World Cup. And the weekly performance has improved week over week. We believe Macau, like Guinea-Royal Avenue last week, the entire market had recovered nearly to Q1 levels. And at MGM, both property visitations and normalized GGR have already exceeded Q1 levels. With the events and the concerts in town in this month and next month, we are confident to see a busy summer in Macau that can draw like a popularity and visitations.