Las Vegas-based MGM Resorts International reported its highest annual net revenue in 2024 despite flat returns from its hometown operations.
MGM Resorts generated $17.2 billion in full year consolidated net revenue last year, an increase of 7 percent compared to 2023, the company said Wednesday during an end of year earnings call. The record-setting performance was largely driven by a 25 percent year-over-year increase in revenue from MGM China.
Las Vegas Strip properties generated $8.8 billion of net revenue in 2024, according to company financial data. Last year’s net revenue from Las Vegas was on par with 2023’s. MGM operates nine casino resorts and four non-gaming hotel properties on the Strip.
Company executives cited difficult year-over-year comparisons for the stagnant results but remained positive on the future of the market.
“Las Vegas will continue to grow, as it has over the last 50 years, and no company is better positioned to take advantage of that growth than MGM given our footprint and operational capabilities,” said Bill Hornbuckle, chief executive officer and president of MGM Resorts.
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Contact David Danzis at ddanzis@reviewjournal.com or 702-383-0378. Follow @ac2vegas-danzis.bsky.social or @AC2Vegas_Danzis on X.