Caesars Entertainment vs MGM Resorts
MGM Resorts reported revenue of $17.5 billion in fiscal 2025, 1.5 times Caesars Entertainment's $11.5 billion in fiscal 2025. Caesars Entertainment's revenue grew 2.1% in its latest year, and MGM Resorts' grew 1.7%. Caesars Entertainment had an operating margin of 16.2%, against 5.7% at MGM Resorts. Free cash flow was $497 million at Caesars Entertainment and $1.5 billion at MGM Resorts.
Side by side
| Caesars Entertainment | MGM Resorts | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $11.5B | $17.5B |
| Revenue growth | 2.1% | 1.7% |
| Revenue growth a year, last 5 years | 25.9% | 27.7% |
| Gross margin | — | — |
| Operating margin | 16.2% | 5.7% |
| Net margin | −4.4% | 1.2% |
| Free cash flow | $497M | $1.5B |
| Free cash flow margin | 4.3% | 8.3% |
| Return on capital | 9.6% | 12.8% |
| Net debt to EBITDA | 3.4x | 2.2x |
| Dividends and buybacks | $229M | $1.2B |
| Change in diluted share count | −3.3% | −10.6% |
| Last close | $28.99 | $28.54 |
| P/E at the last close | — | 17.6× |
| Insider trades, last 12 months | bought $18,690, sold $18.4 million | bought $77.1 million, sold $1.5 million |
| Piotroski F-score | 6 of 8 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Caesars EntertainmentMGM Resorts
Operating margin
Percent of revenue
Caesars EntertainmentMGM Resorts
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Caesars EntertainmentMGM Resorts
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Caesars Entertainment and MGM Resorts pages.