)
Edge31 Oct 2025
Rolls-Royce: Full Thrust Ahead
From century-old crafted perfection to pandemic shock and reset, Rolls-Royce's story is shaped by heritage, turbulence, and a disciplined climb back.
MGM Resorts International (MGM) investor relations material
MGM Resorts International Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Consolidated net revenues rose 2% year-over-year to $4.3 billion in Q3 2025, driven by 17% growth at MGM China and 23% at MGM Digital, while Las Vegas Strip Resorts declined 7% and Regional Operations were flat.
Net loss attributable to shareholders was $285 million, compared to net income of $185 million in the prior year, mainly due to a $256 million non-cash goodwill impairment and $93 million in other write-offs related to Empire City.
BetMGM North America reported strong revenue and EBITDA growth, raised FY2025 guidance, and will distribute at least $100 million in cash to the company by year-end.
Announced sale of MGM Northfield Park operations for $546 million at a premium multiple, expected to close in H1 2026.
Entered a $300 million yen-denominated credit facility at 2.5% interest to support MGM Osaka funding.
Financial highlights
Q3 2025 net revenues: $4.25B (up 2% YoY); Adjusted EBITDAR: $1.16B (down 7% YoY); consolidated Adjusted EBITDA: $506M (down from $574M YoY).
Q3 2025 net loss: $207M; EPS: $(1.05) basic and diluted; Adjusted EPS: $0.24 (down from $0.54 YoY).
Casino revenue for the quarter was $2.29B, up from $2.12B YoY; room revenue at Las Vegas Strip Resorts declined 11% to $660M, with occupancy at 89% and RevPAR down 8% to $210.
MGM China Q3 2025 net revenues: $1.1B (up 17% YoY); Segment Adjusted EBITDAR: $284M (up 20% YoY), margin 26.1%.
MGM Digital Q3 2025 net revenues: $174M (up 23% YoY); Segment Adjusted EBITDAR loss: $23M.
Outlook and guidance
BetMGM North America increased full-year 2025 guidance for the second consecutive quarter, with at least $2.75B net revenue and ~$200M EBITDA, and expects to distribute at least $200M to parents before end of 2025.
Sale of MGM Northfield Park to reduce annual cash rent by $53M; transaction expected to close in H1 2026.
Planned capital expenditures for remainder of 2025: $285M–$335M, including $50M–$70M for MGM China; 2025 CapEx: $775–$800M domestically.
MGM Osaka funding commitment of approximately $2.4B over the next three years.
Management sees stability in Las Vegas with the return of group and convention business and strong 2026 bookings.
BetMGM's path to sustained cash distributions?
LV Strip RevPAR outlook post-MGM Grand remodel?
Empire City license withdrawal: strategic impact?
Yonkers withdrawal impact on capital strategy?
Las Vegas luxury vs. value segment performance?
BetMGM value unlock strategy?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next MGM Resorts International earnings date
Q4 202511 Feb, 2026
Next MGM Resorts International earnings date
Q4 202511 Feb, 2026
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
MGM Resorts International is an entertainment company. The Company owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The Company operates 19 properties in the United States and one property in Macau, including 14 properties on the Las Vegas Strip. In addition, the Company owned its 50 percent limited partnership interest in MGM Macau LLC (MGM Macau). Through its Regional Operations segment, the Company provides casino management services through its interest in a joint venture which operates a resort in Tunica County, Mississippi under a management agreement with Antilley Gaming LLC. Through its smaller markets segment, the Company provides casino management services through its interest on ownership interests in four small markets properties: Beau Rivage Casino & Resort in Biloxi, Mississippi; Gold Strike Hotel & Gambling Hall in Tunica Resorts, Louisiana; Kewadin Casinos & Entertainment Corporation d/b/a Hotel-Casino Sault Ste. Marie and Little Rapids Casino & Hotel in Sault Ste. Marie, Ontario; and three Ontario casinos operated by Gateway Casinos & Entertainment Limited Partnership and leased to CLLC Leisure Properties. The Company conducts its business under the following brands: Bellagio
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage