MGM Resorts International has announced its financial results for the fourth quarter and full year of 2024, showcasing impressive growth and strategic expansion across its global operations. The company reported a record-breaking $17.2 billion in net revenues for 2024, solidifying its position as a leader in the gaming and entertainment industry.

Strong Financial Performance

MGM Resorts achieved a net income of $0.7 billion for the year, with a consolidated adjusted EBITDA of $2.4 billion. This financial success was driven by robust performances across its diverse portfolio, including its flagship properties in Las Vegas, regional resorts, and international ventures in Macau.

BetMGM, the company’s digital arm, also reported significant growth. The platform generated $2.1 billion in net revenues from operations, marking a 7% year-over-year increase. This growth was fueled by a 22% increase in gaming revenues and a 4% rise in online sports betting.

Global Expansion and Digital Growth

MGM Resorts continues to expand its global footprint, operating 18 properties in the United States and Macau, with ongoing developments in Japan and Dubai. BetMGM has established a strong presence in 29 North American jurisdictions, while MGM Digital operates in 11 jurisdictions across Europe, Canada, and South America.

The company’s digital strategy is poised to drive significant future growth, targeting a total addressable market of $41 billion. MGM Digital aims to leverage its proprietary content and full-stack gaming platform to capture a larger share of the rapidly expanding online gaming market.

Strategic Initiatives and Future Outlook

Looking ahead, MGM Resorts is focused on maintaining its strong financial position and executing its growth strategies. The company plans to invest $820-$850 million in capital expenditures in 2025, with a balanced approach to growth, maintenance, and returning cash to shareholders.

« Our 2024 results demonstrate the strength of our business model and the success of our strategic initiatives, » said the CEO of MGM Resorts. « We are well-positioned to continue delivering exceptional experiences to our guests while driving value for our shareholders. »

With a fortified balance sheet and a clear vision for the future, MGM Resorts International is set to capitalize on the growing opportunities in the global gaming and entertainment market.