MGM Resorts vs Wynn Resorts
MGM Resorts is the larger business, with $17.54bn of revenue in fiscal 2025 against $7.14bn for Wynn Resorts (2.5 times as much). MGM Resorts grew faster (1.7% against 0.1%). Wynn Resorts kept more of each dollar of sales as profit: a net margin of 4.6% against 1.2%.
| Latest fiscal year | MGM ResortsMGM, 2025 | Wynn ResortsWYNN, 2025 |
|---|---|---|
| Revenue | $17.54bn | $7.14bn |
| Revenue growth | 1.7% | 0.1% |
| Net income | $206m | $327m |
| Operating margin | 5.7% | 15.7% |
| Net margin | 1.2% | 4.6% |
| Return on equity | 7.5% | — |
| Free cash flow | $1.46bn | $692m |
| Cash | $2.06bn | $1.46bn |
| Total debt | $6.26bn | $10.63bn |
| Debt to equity | 257.6% | — |
| Dividend per share | — | — |
| Dividend yield | — | 2.3% |
| Share buybacks | $1.23bn | $380m |
| Employees | 18,000 | 28,500 |
| Market value | $7.82bn | $8.02bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 52 (Moderate) | 39 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 0 sales |