Grizzly Bulls
Financial research concept

Casino Revenue Mix: Gaming Share of Integrated Resort Revenue

Casino revenue mix measures the percentage of integrated-resort revenue generated by gaming rather than rooms, food and beverage, entertainment, retail, and other activities.

By Lee BaileyPublished Sep 25, 2026
Research context

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Research date
Sep 25, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
18 connected conceptsPart of the reviewed Integrated Casino Resort Economics; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. MGM example
  2. Why it matters
  3. Source
  4. Part of the Integrated Casino Resort Economics
  5. See It in Company Research
  6. Continue Research

Casino revenue mix measures the share of an integrated resort's revenue generated by casino operations.

A simplified form is:

casino revenue mix = casino revenue ÷ total resort revenue

MGM example

MGM reported 2025 consolidated revenue by source of:

  • casino: $9.451 billion;
  • rooms: $3.377 billion;
  • food and beverage: $3.046 billion; and
  • entertainment, retail and other: $1.663 billion.

Casino revenue therefore represented a little more than half of consolidated revenue.

Why it matters

A higher casino mix generally creates greater sensitivity to gaming volumes and hold percentages.

A lower casino mix can indicate a larger contribution from hotel rooms, restaurants, entertainment, retail, conventions, and other nongaming activities.

Neither mix is automatically superior. The economics depend on margins, capital intensity, customer acquisition, and property strategy.

Source

Part of the Integrated Casino Resort Economics

Connect gaming volume and hold, realized table and slot win, gaming-versus-nongaming revenue mix, resort revenue streams, and property-level profitability to understand integrated casino-resort economics.

Browse the full operating model in Company Analysis →
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