MGM Resorts International (MGM) financial statements: income statement, balance sheet and cash flow
MGM Resorts International's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MGM Resorts International reported revenue of $17.5B (+1.7% year on year) and net income of $520.9M (-51.1% year on year).
Income statement
MGM Resorts International income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenue
$17.5B
$17.2B
$16.2B
$13.1B
Cost of sales
$9.7B
$9.4B
$8.6B
$6.7B
General and administrative
$4.9B
$4.8B
$4.7B
$4.2B
Corporate expense
$557.0M
$520.2M
$512.4M
$479.1M
Preopening and start-up expenses
$1.1M
$8.0M
$415.0K
$1.9M
Property transactions, net
$126.0M
$81.3M
($370.5M)
($1.0B)
Goodwill impairment
$278.9M
—
—
—
Depreciation and amortization
$1.0B
$831.1M
$814.1M
$3.5B
Total expenses
$16.6B
$15.7B
$14.2B
$11.5B
Income (loss) from unconsolidated affiliates
$70.0M
($90.7M)
($62.1M)
($160.2M)
Operating income
$1.0B
$1.5B
$1.9B
$1.4B
Interest expense, net of amounts capitalized
($419.0M)
($443.2M)
($460.3M)
($595.0M)
Non-operating items from unconsolidated affiliates
$1.1M
($734.0K)
($1.0M)
($23.5M)
Other, net
($303.1M)
$70.6M
$42.6M
$82.8M
Total non-operating income (expense)
($721.0M)
($373.4M)
($418.7M)
($535.6M)
Income before income taxes
$280.8M
$1.1B
$1.5B
$903.8M
Benefit (provision) for income taxes
$240.1M
($52.5M)
($157.8M)
($697.1M)
Net income
$520.9M
$1.1B
$1.3B
$206.7M
Less: Net income attributable to noncontrolling interests
($315.0M)
($318.1M)
($172.7M)
$1.3B
Net income attributable to MGM Resorts International
$205.9M
$746.6M
$1.1B
$1.5B
Basic (in dollars per share)
$0.77
$2.42
$3.22
$3.52
Diluted (in dollars per share)
$0.76
$2.40
$3.19
$3.49
Basic (in shares)
275.0M
307.4M
354.9M
409.2M
Diluted (in shares)
277.3M
310.2M
358.6M
413.0M
MGM Resorts International income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenue
$4.5B
$4.5B
$4.3B
$4.4B
Cost of sales
$2.5B
$2.5B
$2.4B
$2.4B
General and administrative
$1.3B
$1.3B
$1.2B
$1.2B
Corporate expense
$131.4M
$137.2M
$125.3M
$124.1M
Preopening and start-up expenses
$112.0K
$977.0K
$31.0K
$849.0K
Property transactions, net
($286.7M)
$14.2M
$101.8M
$125.0K
Goodwill impairment
$111.0M
—
$256.1M
—
Depreciation and amortization
$282.3M
$263.7M
$260.7M
$242.0M
Total expenses
$4.0B
$4.2B
$4.4B
$4.0B
Income from unconsolidated affiliates
$25.8M
$10.0M
$25.6M
$25.9M
Operating income
$503.6M
$301.2M
($112.9M)
$404.6M
Interest expense, net of amounts capitalized
($102.1M)
($100.7M)
($102.3M)
($105.6M)
Non-operating items from unconsolidated affiliates
$2.5M
($2.5M)
$5.9M
($4.1M)
Other, net
$9.5M
$4.2M
($10.4M)
($161.2M)
Non-operating income (expense)
($90.1M)
($99.0M)
($106.7M)
($270.8M)
Income before income taxes
$413.5M
$202.2M
($219.6M)
$133.8M
Provision for income taxes
($90.7M)
($27.5M)
$12.9M
($15.7M)
Net income
$322.8M
$174.8M
($206.7M)
$118.1M
Less: Net income attributable to noncontrolling interests
($30.4M)
($49.7M)
($78.5M)
($69.1M)
Net income attributable to MGM Resorts International
$292.4M
$125.1M
($285.3M)
$49.0M
Basic (in dollars per share)
$1.12
$0.49
-$1.05
$0.18
Diluted (in dollars per share)
$1.11
$0.48
-$1.05
$0.18
Basic (in shares)
254.0M
256.3M
272.5M
273.3M
Diluted (in shares)
257.8M
258.9M
272.5M
275.6M
Balance sheet
MGM Resorts International balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$2.1B
$2.4B
$2.9B
$5.9B
Accounts receivable, net
$1.1B
$1.1B
$929.1M
$852.1M
Inventories
$124.5M
$140.6M
$141.7M
$126.1M
Income tax receivable
$220.2M
$257.5M
$141.4M
$73.0M
Prepaid expenses and other
$486.4M
$478.6M
$770.5M
$583.1M
Assets held for sale
$315.4M
—
$0
$608.4M
Total current assets
$4.3B
$4.4B
$4.9B
$8.2B
Property and equipment, net
$6.3B
$6.2B
$5.4B
$5.2B
Investments in and advances to unconsolidated affiliates
$536.1M
$380.6M
$240.8M
$173.0M
Goodwill
$4.9B
$5.1B
$5.2B
$5.0B
Other intangible assets, net
$1.4B
$1.7B
$1.7B
$1.6B
Operating lease right-of-use assets, net
$23.0B
$23.5B
$24.0B
$24.5B
Deferred income taxes
$89.8M
$39.6M
—
—
Other long-term assets, net
$848.5M
$859.0M
$849.9M
$1.0B
Total assets
$41.4B
$42.2B
$42.4B
$45.7B
Accounts and construction payable
$421.5M
$412.7M
$461.7M
$369.8M
Accrued interest on long-term debt
$71.8M
$69.9M
$60.2M
$83.5M
Other accrued liabilities
$3.0B
$2.9B
$2.6B
$2.2B
Liabilities related to assets held for sale
$25.6M
—
$0
$539.8M
Total current liabilities
$3.5B
$3.4B
$3.1B
$4.5B
Deferred income taxes
$2.6B
$2.8B
$2.9B
$3.0B
Long-term debt, net
$6.2B
$6.4B
$6.3B
$7.4B
Operating lease liabilities
$25.0B
$25.1B
$25.1B
$25.1B
Other long-term obligations
$775.4M
$910.1M
$542.7M
$256.3M
Total liabilities
$38.1B
$38.5B
—
—
Redeemable noncontrolling interests
$21.8M
$34.8M
$33.4M
$158.3M
Common stock, $0.01 par value: authorized 1,000,000,000 shares, issued and outstanding 258,323,143 and 294,374,189 shares
2.6M
2.9M
3.3M
3.8M
Capital in excess of par value
$0
$0
$0
$0
Retained earnings
$2.1B
$3.1B
$3.7B
$4.8B
Accumulated other comprehensive income (loss)
$320.5M
($61.2M)
$143.9M
$33.5M
Total MGM Resorts International stockholders’ equity
$2.4B
$3.0B
$3.8B
$4.8B
Noncontrolling interests
$824.6M
$661.7M
$523.0M
$378.6M
Total stockholders’ equity
$3.3B
$3.7B
$4.3B
$5.2B
Total liabilities and stockholders' equity
$41.4B
$42.2B
$42.4B
$45.7B
MGM Resorts International balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$2.5B
$2.3B
$2.1B
$2.0B
Accounts receivable, net
$1.2B
$1.1B
$932.1M
$1.0B
Inventories
$123.4M
$123.2M
$127.1M
$126.7M
Income tax receivable
$1.6M
$100.4M
$164.6M
$227.3M
Prepaid expenses and other
$513.2M
$571.3M
$574.4M
$502.7M
Assets held for sale
$0
$313.9M
—
—
Total current assets
$4.4B
$4.5B
$3.9B
$3.9B
Property and equipment, net
$6.2B
$6.2B
$6.3B
$6.3B
Investments in and advances to unconsolidated affiliates
$637.5M
$660.4M
$540.1M
$484.2M
Goodwill
$4.8B
$4.9B
$4.9B
$5.2B
Other intangible assets, net
$1.3B
$1.3B
$1.6B
$1.7B
Operating lease right-of-use assets, net
$21.7B
$22.9B
$23.1B
$23.3B
Deferred income taxes
$117.2M
$98.7M
$69.0M
$55.9M
Other long-term assets, net
$820.9M
$840.7M
$902.3M
$907.2M
Total assets
$39.8B
$41.4B
$41.4B
$41.7B
Accounts and construction payable
$422.9M
$404.5M
$421.1M
$383.5M
Accrued interest on long-term debt
$72.3M
$95.5M
$95.3M
$71.5M
Other accrued liabilities
$2.8B
$2.9B
$2.7B
$2.7B
Liabilities related to assets held for sale
$0
$26.1M
—
—
Total current liabilities
$3.3B
$3.4B
$3.2B
$3.2B
Deferred income taxes
$2.6B
$2.6B
$2.8B
$2.8B
Long-term debt, net
$6.1B
$6.4B
$6.2B
$6.2B
Operating lease liabilities
$23.8B
$24.9B
$25.0B
$25.0B
Other long-term obligations
$726.3M
$725.6M
$784.3M
$770.7M
Total liabilities
$36.5B
$38.1B
$38.0B
$38.0B
Redeemable noncontrolling interests
$8.4M
$20.5M
$31.5M
$31.7M
Common stock, $0.01 par value: authorized 1,000,000,000 shares, issued and outstanding 251,586,206 and 258,323,143 shares
2.5M
2.6M
2.7M
2.7M
Capital in excess of par value
$0
$0
$1.1M
$0
Retained earnings
$2.3B
$2.2B
$2.3B
$2.6B
Accumulated other comprehensive income
$202.5M
$257.3M
$347.8M
$361.5M
Total MGM Resorts International stockholders' equity
$2.5B
$2.4B
$2.7B
$3.0B
Noncontrolling interests
$853.9M
$878.1M
$743.9M
$737.4M
Total stockholders’ equity
$3.4B
$3.3B
$3.4B
$3.7B
Total liabilities and stockholders' equity
$39.8B
$41.4B
$41.4B
$41.7B
Cash flow statement
MGM Resorts International cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$520.9M
$1.1B
$1.3B
$206.7M
Depreciation and amortization
$1.0B
$831.1M
$814.1M
$3.5B
Amortization of debt discounts and issuance costs
$26.7M
$27.2M
$27.8M
$32.8M
Loss on extinguishment of debt
$0
$7.1M
$0
$0
Provision for credit losses
$61.1M
$61.1M
$49.0M
$22.7M
Stock-based compensation
$90.5M
$80.2M
$73.6M
$71.3M
Property transactions, net
$126.0M
$81.3M
($370.5M)
($1.0B)
Goodwill impairment
$278.9M
—
—
—
Foreign currency transaction loss (gain)
$288.0M
($128.6M)
$106.4M
—
Noncash lease expense
$509.1M
$515.4M
$516.1M
$437.6M
Other investment losses
$22.4M
—
—
—
Loss (income) from unconsolidated affiliates
($71.1M)
$91.4M
$63.1M
$183.7M
Distributions from unconsolidated affiliates
$17.2M
$21.9M
$20.1M
$37.4M
Deferred income taxes
($245.6M)
($85.1M)
($117.3M)
$496.2M
Accounts receivable
($90.1M)
($157.7M)
($132.3M)
($211.7M)
Inventories
$15.7M
$1.3M
($15.5M)
($26.6M)
Income taxes receivable and payable, net
$47.6M
($132.8M)
($58.5M)
$197.1M
Prepaid expenses and other
$4.5M
$35.1M
($50.9M)
($14.4M)
Accounts payable and accrued liabilities
($82.4M)
($107.4M)
$410.1M
$183.8M
Other
($7.8M)
$124.2M
$39.2M
($15.0M)
Net cash provided by operating activities
$2.5B
$2.4B
$2.7B
$1.8B
Capital expenditures
($1.1B)
($1.2B)
($931.8M)
($765.1M)
Dispositions of property and equipment
$7.1M
$13.2M
$5.4M
$112.0M
Proceeds from sale of operating resorts
$0
$0
$460.4M
$1.1B
Proceeds from repayment of principal on note receivable
$0
$0
$152.5M
—
Acquisitions, net of cash acquired
$0
($113.9M)
($122.1M)
($1.9B)
Investments in unconsolidated affiliates
($237.8M)
($182.1M)
($161.0M)
($254.8M)
Distributions from unconsolidated affiliates
$207.3M
$2.3M
$8.3M
$10.4M
Investments and other
($48.5M)
$147.9M
($125.9M)
($523.4M)
Net cash used in investing activities
($1.1B)
($1.3B)
($714.2M)
$2.1B
Net borrowings (repayments) of debt – maturities of 90 days or less
$6.6M
$104.4M
($1.1B)
$1.1B
Issuance of long-term debt
$353.8M
$2.1B
$0
$0
Repayment of long-term debt
($500.0M)
($2.2B)
($1.3B)
($1.1B)
Debt issuance costs
($40.8M)
($38.3M)
($21.5M)
($1.4M)
Distributions to noncontrolling interest owners
($169.2M)
($188.6M)
($177.1M)
($210.7M)
Repurchases of common stock
($1.2B)
($1.4B)
($2.3B)
($2.8B)
Other
($153.1M)
($8.9M)
($131.2M)
($110.9M)
Net cash used in financing activities
($1.7B)
($1.6B)
($5.0B)
($3.0B)
Effect of exchange rate on cash, cash equivalents, and restricted cash
$4.4M
($26.9M)
($19.4M)
$8.9M
Change in cash and cash equivalents classified as assets held for sale
($14.6M)
$0
$25.9M
($25.9M)
Net change for the period
($352.7M)
($511.8M)
($3.0B)
$833.3M
Balance, beginning of period
$2.5B
$3.0B
$6.0B
$5.2B
Balance, end of period
$2.2B
$2.5B
$3.0B
$6.0B
Interest paid, net of amounts capitalized
$389.1M
$406.3M
$452.2M
$573.6M
MGM Resorts International cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$497.6M
$174.8M
$138.1M
$344.8M
Depreciation and amortization
$546.0M
$263.7M
$739.1M
$478.4M
Amortization of debt discounts and issuance costs
$12.7M
$6.4M
$20.3M
$13.9M
Provision for credit losses
$50.1M
$18.6M
$39.4M
$29.8M
Stock-based compensation
$50.8M
$35.1M
$59.4M
$45.1M
Foreign currency transaction (gain) loss
($55.2M)
($25.3M)
$285.5M
$308.5M
Property transactions, net
($272.5M)
$14.2M
$117.4M
$15.6M
Goodwill impairment
$111.0M
—
$256.1M
—
Noncash lease expense
$208.3M
$126.5M
$383.0M
$257.1M
Other investment losses (gains)
$19.5M
$12.0M
($35.3M)
($38.2M)
Income from unconsolidated affiliates
($35.9M)
($7.5M)
($40.8M)
($9.2M)
Distributions from unconsolidated affiliates
$8.9M
$1.6M
$8.2M
$6.8M
Deferred income taxes
($45.0M)
($11.9M)
($2.9M)
($28.0M)
Accounts receivable
($134.8M)
($23.1M)
$127.6M
$24.7M
Inventories
$939.0K
$1.1M
$13.4M
$13.6M
Income taxes receivable and payable, net
$230.8M
$125.8M
$87.5M
$29.1M
Prepaid expenses and other
($22.3M)
($76.9M)
($82.2M)
($11.4M)
Accounts payable and accrued liabilities
($118.0M)
($98.0M)
($204.9M)
($194.9M)
Other
$73.5M
$30.6M
($34.5M)
($92.6M)
Net cash provided by operating activities
$1.1B
$567.8M
$1.9B
$1.2B
Capital expenditures
($396.0M)
($154.7M)
($772.5M)
($496.5M)
Dispositions of property and equipment
$5.9M
$5.6M
$613.0K
$91.0K
Investments in unconsolidated affiliates
($137.6M)
($137.6M)
($208.3M)
($85.5M)
Proceeds from sale of operating resorts
$506.7M
—
—
—
Distributions from unconsolidated affiliates
$4.5M
$610.0K
$70.8M
$1.1M
Investments and other
($92.6M)
($86.8M)
($30.8M)
($24.5M)
Net cash used in investing activities
($109.1M)
($372.8M)
($940.2M)
($605.3M)
Net borrowings (repayments) of debt - maturities of 90 days or less
($140.8M)
$178.4M
$289.5M
$339.4M
Issuance of long-term debt
$750.0M
—
$0
$0
Repayment of long-term debt
($750.0M)
—
($500.0M)
($500.0M)
Debt issuance costs
($9.6M)
—
($40.8M)
($40.8M)
Distributions to noncontrolling interest owners
($83.0M)
($5.4M)
($158.7M)
($80.0M)
Repurchases of common stock
($262.5M)
($88.9M)
($717.2M)
($717.2M)
Other
($54.9M)
($44.2M)
($105.2M)
($61.2M)
Net cash used in financing activities
($550.8M)
$39.9M
($1.2B)
($1.1B)
Effect of exchange rate on cash, cash equivalents, and restricted cash
($14.8M)
($6.4M)
$16.1M
$13.9M
Change in cash and cash equivalents classified as assets held for sale