Earned & PaidMGM Resorts
MGM Resorts spent $398M on advertising and marketing in fiscal 2025, up 3.6% on the year before and +104% since 2019. That's 2.3% of revenue, more than in 2019: leaning in.
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.
What the 10-K says about marketing
- measurement “We leverage paid media and various social channels to reach our desired guests with precision, using targeted segmentation to deliver personalized content that resonates with specific customer interests and preferences. This allows us to engage high-value segments more…” 10-K, Feb 11, 2026
Say vs do
We found no statement about the size of MGM Resorts's marketing budget on its earnings calls or in its 10-Ks, so here is its record against its peers.
What they said
No statement about the size of its marketing budget.
What they did
| Year | Marketing spend | Change | Share of revenue |
|---|---|---|---|
| FY2025 | $398M | +3.6% | 2.3% |
| FY2024 | $384M | +28.4% | 2.2% |
| FY2023 | $299M | +27.2% | 1.9% |
| FY2022 | $235M | +94.2% | 1.8% |
| FY2021 | $121M | +37.5% | 1.2% |
| FY2020 | $88M | -54.9% | 1.7% |
Against its peers. Compared with the 2 other Gambling advertisers we track (DraftKings, Caesars): since 2019 its marketing spend went +104% (peer median +717%); its share of revenue moved +0.8 pts (median +0.9); last year +3.6% (median +4.8%).
How we check: a statement gets a verdict only when it's clearly about the size of the whole company's marketing budget over a full fiscal year; we compare it with the advertising and marketing expense in that year's 10-K. Statements about one quarter, one brand or channel, or the mix between brand and performance can't be checked against annual filings.
What they say about media
The marketing channels it talks about using for itself on earnings calls and in its 10-Ks and 10-Qs, since 2019; counts are statements, not spending.
- CRM, loyalty & first-party data “Our regional marketing offices and direct outreach channels via mail, email, and social media ensure consistent engagement.” 10-K · Feb 11, 2026 · source
- Creative campaigns “with Chris Rock leading the campaign.” Bill Hornbuckle on the earnings call · Nov 9, 2023 · source
- Measurement “And what is clear and differentiating between us and Caesars is our casino marketing share is 10 -- 100 basis points behind their in terms of market mix.” Bill Hornbuckle on the earnings call · Nov 4, 2021 · source
- SEO & AI search “So the biggest single source rather than being attributed to one partner, our biggest source of traffic is organic.” Adam Greenblatt on the earnings call · Feb 11, 2021 · source
- Sponsorships & athletes “Through a combination of strategic branding, direct marketing, on the ground brand ambassadors and hosts as well as the integration of M life with the BetMGM app, we have been aggressively working to introduce new customers to BetMGM.” Bill Hornbuckle on the earnings call · Oct 30, 2020 · source
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
- Sponsorships & athletes “And so the actual offering and the app we think he'll bring a lot to all of that, and it'll help us think about how now to do a media deal, it's simply not an advertising buy and how to get a true partnership with somebody that's going to be lasting and something different than…” Bill Hornbuckle on the earnings call · Oct 30, 2020 · source
- Creative campaigns · Linear TV “We think the exposure for the BetMGM platform is unique, and you probably haven't turned on a TV recently for Monday Night Football, World Series, it's extensive.” Bill Hornbuckle on the earnings call · Oct 30, 2020 · source