MGM Resorts International (MGM) Operating Expenses (2009 - 2026)
MGM Resorts International's (MGM) quarterly Operating Expenses came in at $4.0 billion in Q2 2026, down 1.32% year-over-year from $4.0 billion in Q2 2025, and down 4.57% quarter-over-quarter from $4.2 billion in Q1 2026.
Analysis
MGM Resorts International (MGM) Operating Expenses (2009 - 2026) Analysis & Trends
MGM Resorts International has disclosed Operating Expenses across 18 years of filings, most recently posting $4.0 billion for Q2 2026.
- In Q2 2026, Operating Expenses fell 1.32% year-over-year to $4.0 billion; the TTM figure through Jun 2026 stood at $16.8 billion (up 6.58% YoY), while the FY2025 annual figure was $16.6 billion, up 6.04% from the prior year.
- Operating Expenses came in at $4.0 billion for Q2 2026 at MGM Resorts International, down from $4.2 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $4.4 billion in Q3 2022 to a low of $827.9 million in Q2 2022.
- Average Operating Expenses over 5 years is $3.7 billion, with a median of $3.9 billion recorded in 2024.
- The largest YoY upside for Operating Expenses was 422.97% in 2022 against a maximum downside of 60.34% in 2022.
- Over 5 years, Operating Expenses stood at $3.6 billion in 2022, then increased by 11.51% to $4.0 billion in 2023, then rose by 1.33% to $4.0 billion in 2024, then climbed by 7.37% to $4.3 billion in 2025, then dropped by 7.85% to $4.0 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $4.0 billion in Q2 2026, $4.2 billion in Q1 2026, and $4.3 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 28.74 Bn | 25.68 Bn | 1.81 Bn | 2.54 Bn |
| 2 | MGM Resorts International | 10.37 Bn | 8.67 Bn | 3.10 Bn | 3.97 Bn |
| 3 | Wynn Resorts | 9.47 Bn | 7.16 Bn | 1.14 Bn | 1.56 Bn |
| 4 | Churchill Downs | 6.07 Bn | 5.92 Bn | 712.00 Mn | 623.00 Mn |
| 5 | Caesars Entertainment | 6.05 Bn | 5.16 Bn | 2.04 Bn | 2.48 Bn |
| 6 | Red Rock Resorts | 6.00 Bn | 5.52 Bn | 420.02 Mn | 374.27 Mn |
| 7 | Boyd Gaming | 5.71 Bn | 5.38 Bn | 766.76 Mn | 833.69 Mn |
| 8 | PENN Entertainment | 2.29 Bn | 1.39 Bn | 1.02 Bn | 1.73 Bn |
| 9 | Monarch Casino & Resort | 2.18 Bn | 2.04 Bn | 38.62 Mn | 103.97 Mn |
| 10 | Melco Resorts & Entertainment | 2.12 Bn | 1.85 Bn | 1.05 Bn | -1.00 Bn |
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 |