---
schema_version: "secwatch.filing_event.v1"
accession: "0000789570-25-000019"
form_type: "8-K"
ticker: "MGM"
cik: "0000789570"
company_name: "MGM Resorts International"
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T03:05:22.007672+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MGM Q1 revenue $4.3B (-2% YoY), net income $149M; announces $2B buyback

## Summary
- Consolidated net revenues $4.3B (-2% YoY); net income $149M vs $217M; Adj. EBITDA $637M vs $673M.
- Las Vegas Strip RevPAR -6% to $242; record occupancy 94%, slot win +7% to $545M.
- MGM China net revenues $1.0B (-3% YoY); Segment Adj. EBITDAR $286M (-5%).
- BetMGM venture had positive EBITDA in Q1; share of operating loss improved to $15.2M from $32.6M.
- Board authorized new $2B stock repurchase plan; Q1 repurchased 15M shares for $494M.

## SEC filing metadata
- accession: 0000789570-25-000019
- form_type: 8-K
- ticker: MGM
- cik: 0000789570
- company_name: MGM Resorts International
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/789570/000078957025000019/0000789570-25-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/789570/000078957025000019/mgm-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000789570-25-000019
- JSON: https://secwatch.observer/filing/0000789570-25-000019.json
- Plain text: https://secwatch.observer/filing/0000789570-25-000019.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.