MGM Resorts International reported a 6% year-over-year increase in consolidated net revenues to $4.6 billion in Q4 2025, despite a 3% decline in its Las Vegas segment. For the full year 2025, Las Vegas saw net revenue and adjusted EBITDAR declines, attributed to significant tourism disruptions. Despite these headwinds, CEO Bill Hornbuckle remains optimistic for 2026, citing strong group and convention business and benefits from completed capital projects.
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MGM Resorts down in Las Vegas in Q4, though CEO remains optimistic
MGM Resorts International reported a 6% year-over-year increase in consolidated net revenues to $4.6 billion in Q4 2025, despite a 3% decline in its Las Vegas segment. For the full year 2025, Las Vegas saw net revenue and adjusted EBITDAR declines, attributed to significant tourism disruptions. Despite these headwinds, CEO Bill Hornbuckle remains optimistic for 2026, citing strong group and convention business and benefits from completed capital projects.