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MGM Resorts Valuation Multiples

Discover revenue and EBITDA valuation multiples for MGM Resorts and similar public comparables like BetMakers, BlueBet Holdings, and Aristocrat Leisure.

MGM Resorts Overview

About MGM Resorts

MGM Resorts is the largest resort operator on the Las Vegas Strip with 37,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 59% of total EBITDAR in 2024. MGM also owns US regional assets, which represented a low 20s share of 2024 EBITDAR (MGM's Macao EBITDAR was 21% of the total in 2024). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.


Founded

1986

HQ

United States of America
Employees

63K+

Website

mgmresorts.com

Financials

LTM Revenue $17.2B

LTM EBITDA $4.7B

EV

$38.3B

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MGM Resorts Financials

MGM Resorts has a last 12-month revenue of $17.2B and a last 12-month EBITDA of $4.7B.

In the most recent fiscal year, MGM Resorts achieved revenue of $17.2B and an EBITDA of $2.4B.

MGM Resorts expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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MGM Resorts P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $16.2B $17.2B XXX XXX XXX
Gross Profit $6.5B $7.6B XXX XXX XXX
Gross Margin 40% 44% XXX XXX XXX
EBITDA $2.7B $2.4B XXX XXX XXX
EBITDA Margin 17% 14% XXX XXX XXX
Net Profit $1.5B $1.1B XXX XXX XXX
Net Margin 9% 7% XXX XXX XXX
Net Debt $2.8B $3.4B XXX XXX XXX

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MGM Resorts Stock Performance

As of March 14, 2025, MGM Resorts's stock price is $32.

MGM Resorts has current market cap of $9.1B, and EV of $38.3B.

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MGM Resorts Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$38.3B $9.1B XXX XXX XXX XXX $2.53

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MGM Resorts Valuation Multiples

As of March 14, 2025, MGM Resorts has market cap of $9.1B and EV of $38.3B.

MGM Resorts's trades at 2.2x LTM EV/Revenue multiple, and 8.2x LTM EBITDA.

Analysts estimate MGM Resorts's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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MGM Resorts Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $38.3B XXX XXX XXX
EV/Revenue 2.2x XXX XXX XXX
EV/EBITDA 16.0x XXX XXX XXX
P/E 12.1x XXX XXX XXX
P/E/Growth 3.3x XXX XXX XXX
EV/FCF 31.6x XXX XXX XXX

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MGM Resorts Valuation Multiples

MGM Resorts's NTM/LTM revenue growth is 0%

MGM Resorts's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, MGM Resorts's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate MGM Resorts's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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MGM Resorts Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 14% XXX XXX XXX XXX
EBITDA Growth -13% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 14% XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 28% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 36% XXX XXX XXX XXX

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MGM Resorts Public Comps

See public comps and valuation multiples for Casinos & Gambling and Accommodation comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
High Roller Technologies XXX XXX XXX XXX XXX XXX
Ainsworth Game Technology XXX XXX XXX XXX XXX XXX
Aristocrat Leisure XXX XXX XXX XXX XXX XXX
BlueBet Holdings XXX XXX XXX XXX XXX XXX
BetMakers XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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MGM Resorts M&A and Investment Activity

MGM Resorts acquired  XXX companies to date.

Last acquisition by MGM Resorts was  XXXXXXXX, XXXXX XXXXX XXXXXX . MGM Resorts acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by MGM Resorts

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About MGM Resorts

When was MGM Resorts founded? MGM Resorts was founded in 1986.
Where is MGM Resorts headquartered? MGM Resorts is headquartered in United States of America.
How many employees does MGM Resorts have? As of today, MGM Resorts has 63K+ employees.
Who is the CEO of MGM Resorts? MGM Resorts's CEO is Mr. William Joseph Hornbuckle.
Is MGM Resorts publicy listed? Yes, MGM Resorts is a public company listed on NYS.
What is the stock symbol of MGM Resorts? MGM Resorts trades under MGM ticker.
When did MGM Resorts go public? MGM Resorts went public in 1997.
Who are competitors of MGM Resorts? Similar companies to MGM Resorts include e.g. High Roller Technologies, Ainsworth Game Technology, Aristocrat Leisure, BlueBet Holdings.
What is the current market cap of MGM Resorts? MGM Resorts's current market cap is $9.1B
What is the current revenue of MGM Resorts? MGM Resorts's last 12-month revenue is $17.2B.
What is the current EBITDA of MGM Resorts? MGM Resorts's last 12-month EBITDA is $4.7B.
What is the current EV/Revenue multiple of MGM Resorts? Current revenue multiple of MGM Resorts is 2.2x.
What is the current EV/EBITDA multiple of MGM Resorts? Current EBITDA multiple of MGM Resorts is 8.2x.
What is the current revenue growth of MGM Resorts? MGM Resorts revenue growth between 2023 and 2024 was 7%.
Is MGM Resorts profitable? Yes, MGM Resorts is EBITDA-positive (as of the last 12 months).

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