After three decades with MGM Resorts, Corey Sanders will step down on December 31. His role as chief operating officer will be taken over by Ayesha Molino.
Molino isn’t new...
MGM Resorts reports YoY growth in Q3 2025 performance
MGM Resorts recorded a 2% increase in Q3 2025 compared to the same period last year, with consolidated net revenue of $4.3 billion.
MGM also reported a net loss of $285 million despite the revenue rise, mainly due to a non-cash goodwill impairment charge. A year earlier, the company had recorded a net income of $185 million. Consolidated adjusted EBITDA came in at $506 million, decreased from $574 million year-on-year.
Jonathan Halkyard, chief financial officer and treasurer of MGM Resorts International, commented:
“We are seeing encouraging signs of stability in Las Vegas with the return of the group and convention season and the completion of the MGM Grand room remodel,” said Jonathan Halkyard, chief financial officer and treasurer of MGM Resorts International.”
President and CEO Bill Hornbuckle credited the growth to the company’s strong operational scale and diverse portfolio.
Hornbuckle said:
“The BetMGM North American venture reported accelerated growth in Q3 2025, increasing full year guidance for the second consecutive quarter and announcing cash distributions to MGM Resorts beginning in Q4 2025. The initial distribution to MGM is expected to be at least $100m, proving significant progress on the growth, profitability and free cash flow generation of the business.”
Halkyard also went on to say that MGM’s decision to sell the operations of MGM Northfield Park was driven by its strategic focus on premium, market-leading integrated resort operations. The sale price represents a strong multiple, underscoring the value gap that still exists in MGM Resorts’ equity.
Despite ongoing construction of the $2.5 billion project, Dubai is keeping MGM Resorts in suspense over whether its highly anticipated beachfront resort will be allowed to...
