MGM Resorts International (MGM) Operating Expenses (2009 - 2026)
MGM Resorts International (MGM) posted Operating Expenses of $3.97 billion for Q2 2026, down 1.3% from $4.03 billion a year earlier and down 4.6% from the prior quarter.
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Analysis
MGM Resorts International (MGM) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at MGM Resorts International was $16.84 billion, up 6.6% year-over-year; for FY2025, it came in at $16.61 billion, up 6.0% from FY2024.
- Annual Operating Expenses has increased for five consecutive years, with a five-year compound annual growth rate of 23.2% (FY2020 to FY2025).
- In prior years, MGM Resorts International's Operating Expenses was $15.66 billion in FY2024 (+10.2%), $14.21 billion in FY2023 (+23.3%), $11.53 billion in FY2022 (+54.0%) and $7.49 billion in FY2021 (+28.0%).
- The Q2 2026 figure stands as the lowest quarterly Operating Expenses since Q1 2025.
- On a year-over-year basis, Operating Expenses increased in six of the last eight quarters, with growth averaging 4.8%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q3 2022, with growth of 423.0%; the weakest was Q2 2022, with a decline of 60.3%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $4.16 billion (Q1 2026), $4.31 billion (Q4 2025) and $4.39 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 2.54 Bn |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | 297.09 Mn |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | 845.00 Mn |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | 86.28 Mn |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | 716.29 Mn |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | 1.56 Bn |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | 3.97 Bn |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | 2.48 Bn |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | -50.00 Mn |
| 10 | Churchill Downs | 5.31 Bn | 4.58 Bn | 419.00 Mn | 623.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.97 Bn |
| Mar 31, 2026 | 4.16 Bn |
| Dec 31, 2025 | 4.31 Bn |
| Sep 30, 2025 | 4.39 Bn |
| Jun 30, 2025 | 4.03 Bn |
| Mar 31, 2025 | 3.88 Bn |
| Dec 31, 2024 | 4.02 Bn |
| Sep 30, 2024 | 3.88 Bn |
| Jun 30, 2024 | 3.87 Bn |
| Mar 31, 2024 | 3.90 Bn |
| Dec 31, 2023 | 3.96 Bn |
| Sep 30, 2023 | 3.63 Bn |
| Jun 30, 2023 | 3.55 Bn |
| Mar 31, 2023 | 3.07 Bn |
| Dec 31, 2022 | 3.55 Bn |
| Sep 30, 2022 | 4.44 Bn |
| Jun 30, 2022 | 827.85 Mn |
| Mar 31, 2022 | 2.70 Bn |
| Dec 31, 2021 | 2.68 Bn |
| Sep 30, 2021 | 849.87 Mn |
API Access
MGM Resorts International Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MGM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MGM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MGM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();