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Caesars Entertainment vs MGM Resorts International: revenue, profit, margins and growth compared

Caesars Entertainment brought in $11.5B of revenue in fiscal 2025, MGM Resorts International $17.5B in fiscal 2025. Revenue changed by +2.1% at Caesars Entertainment and +1.7% at MGM Resorts International on the year before, so Caesars Entertainment grew faster. Caesars Entertainment kept -4.4% of its revenue as net profit, MGM Resorts International 1.2%. Free cash flow was $497M at Caesars Entertainment and $1.5B at MGM Resorts International.

Side by side, latest fiscal year

CZRMGM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11.5B$17.5B
Revenue growth+2.1%+1.7%
Net income-$502M$205.9M
Net margin-4.4%1.2%
Free cash flow$497M$1.5B
Free cash flow margin4.3%8.3%
Earnings per share (diluted)-$2.42$0.76
Cash$887M$2.1B
Debt$11.9B$6.2B
Price to earningsn/a42.9
Market value$6B$8.4B
Dividend yieldn/an/a
Rank by revenue in sector#111 of 778 · Consumer discretionary#70 of 778 · Consumer discretionary

Over the years

Revenue
CZR FY2018: $2.1BCZR FY2019: $2.5BCZR FY2020: $3.6BCZR FY2021: $9.6BCZR FY2022: $10.8BCZR FY2023: $11.5BCZR FY2024: $11.2BCZR FY2025: $11.5BMGM FY2018: $11.8BMGM FY2019: $12.9BMGM FY2020: $5.2BMGM FY2021: $9.7BMGM FY2022: $13.1BMGM FY2023: $16.2BMGM FY2024: $17.2BMGM FY2025: $17.5BFY18FY19FY20FY21FY22FY23FY24FY25
CZR $11.5BMGM $17.5B
Net income
CZR FY2018: $95MCZR FY2019: $81MCZR FY2020: -$1.8BCZR FY2021: -$1BCZR FY2022: -$899MCZR FY2023: $786MCZR FY2024: -$278MCZR FY2025: -$502MMGM FY2018: $466.8MMGM FY2019: $2BMGM FY2020: -$1BMGM FY2021: $1.3BMGM FY2022: $1.5BMGM FY2023: $1.1BMGM FY2024: $746.6MMGM FY2025: $205.9MFY18FY19FY20FY21FY22FY23FY24FY25
CZR -$502MMGM $205.9M
Net margin
CZR FY2018: 4.6%CZR FY2019: 3.2%CZR FY2020: -48.4%CZR FY2021: -10.6%CZR FY2022: -8.3%CZR FY2023: 6.8%CZR FY2024: -2.5%CZR FY2025: -4.4%MGM FY2018: 4.0%MGM FY2019: 15.9%MGM FY2020: -20.0%MGM FY2021: 13.0%MGM FY2022: 11.2%MGM FY2023: 7.1%MGM FY2024: 4.3%MGM FY2025: 1.2%FY18FY19FY20FY21FY22FY23FY24FY25
CZR -4.4%MGM 1.2%
Revenue growth
CZR FY2019: +23.0%CZR FY2020: +43.5%CZR FY2021: +163.8%CZR FY2022: +13.1%CZR FY2023: +6.5%CZR FY2024: -2.5%CZR FY2025: +2.1%MGM FY2019: +9.7%MGM FY2020: -60.0%MGM FY2021: +87.5%MGM FY2022: +35.6%MGM FY2023: +23.1%MGM FY2024: +6.7%MGM FY2025: +1.7%FY19FY20FY21FY22FY23FY24FY25
CZR +2.1%MGM +1.7%
Free cash flow
CZR FY2018: $176.3MCZR FY2019: $141.5MCZR FY2020: -$725MCZR FY2021: $679MCZR FY2022: $41MCZR FY2023: $545MCZR FY2024: -$221MCZR FY2025: $497MMGM FY2018: $235.7MMGM FY2019: $1.1BMGM FY2020: -$1.8BMGM FY2021: $882.7MMGM FY2022: $991.4MMGM FY2023: $1.8BMGM FY2024: $1.2BMGM FY2025: $1.5BFY18FY19FY20FY21FY22FY23FY24FY25
CZR $497MMGM $1.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Caesars Entertainment and MGM Resorts International

Which is bigger by revenue, Caesars Entertainment or MGM Resorts International?

MGM Resorts International is bigger by revenue: $17.5B in fiscal 2025, against $11.5B for Caesars Entertainment in fiscal 2025.

Which keeps more of its revenue as profit, Caesars Entertainment or MGM Resorts International?

Caesars Entertainment had a net margin of -4.4% in fiscal 2025; MGM Resorts International had 1.2% in fiscal 2025.

Which grew revenue faster, Caesars Entertainment or MGM Resorts International?

In their latest fiscal years revenue changed by +2.1% at Caesars Entertainment and +1.7% at MGM Resorts International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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