MGM Resorts International (MGM) Operating Expenses (2009 - 2026)
MGM Resorts International (MGM) posted Operating Expenses of $4.0 billion for Q2 2026, down 4.57% sequentially from $4.2 billion in Q1 2026, and down 1.32% YoY from $4.0 billion in Q2 2025.
MGM Resorts International (MGM) Operating Expenses (2009 - 2026) Analysis & Trends
MGM Resorts International has reported Operating Expenses for 18 years, with the latest figure at $4.0 billion in Q2 2026.
- Quarterly Operating Expenses fell 1.32% year-over-year to $4.0 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $16.8 billion (up 6.58% YoY) and the FY2025 annual result came in at $16.6 billion, up 6.04% from the prior year.
- Operating Expenses slipped to $4.0 billion in Q2 2026 per MGM's latest filing, from $4.2 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $4.4 billion in Q3 2022 and troughed at $827.9 million in Q2 2022.
- A 5-year average of $3.7 billion and a median of $3.9 billion in 2024 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 422.97% in 2022, down 60.34% in 2022.
- Over 5 years, Operating Expenses stood at $3.6 billion in 2022, then gained by 11.51% to $4.0 billion in 2023, then advanced by 1.33% to $4.0 billion in 2024, then increased by 7.37% to $4.3 billion in 2025, then fell by 7.85% to $4.0 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $4.0 billion, $4.2 billion, and $4.3 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.10 Bn | 26.73 Bn | 1.81 Bn | 2.54 Bn |
| 2 | MGM Resorts International | 10.94 Bn | 8.39 Bn | 3.10 Bn | 3.97 Bn |
| 3 | Wynn Resorts | 10.22 Bn | 8.64 Bn | 1.14 Bn | 1.56 Bn |
| 4 | Boyd Gaming | 6.06 Bn | 5.74 Bn | 766.76 Mn | 833.69 Mn |
| 5 | Caesars Entertainment | 6.05 Bn | 4.99 Bn | 2.04 Bn | 2.48 Bn |
| 6 | Vail Resorts | 5.35 Bn | 4.98 Bn | - | - |
| 7 | Marriott Vacations Worldwide | 3.84 Bn | 3.53 Bn | 1.29 Bn | 1.16 Bn |
| 8 | Hilton Grand Vacations | 3.56 Bn | 3.29 Bn | 499.00 Mn | 1.27 Bn |
| 9 | Red Rock Resorts | 3.54 Bn | 2.94 Bn | 420.02 Mn | 374.27 Mn |
| 10 | PENN Entertainment | 2.46 Bn | 1.57 Bn | 1.02 Bn | 1.73 Bn |
Historic Data
Download 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 |