Maritime Industry Briefing: Cruise News, Shipping Results, and Island Photoshoot

## Cruise Line Earnings Rebound in 2025 MGM Resorts International, the parent company of major cruise line operator Carnival Cruise Line, reported strong financial results for the fourth quarter and full year 2025. According to the company's earnings release, Carnival saw consolidated net revenues grow 6% to $4.6 billion in Q4 2025, while net income attributable to MGM Resorts increased 87% to $294 million. Consolidated Adjusted EBITDA, a key metric for the cruise industry, rose 20% to $635 million. "Our global portfolio strength drove growth in the fourth quarter and full year 2025," said MGM Resorts CEO and President Bill Hornbuckle. "Carnival Cruise Line continued to see robust demand and financial performance as the cruise industry's recovery gained momentum." ## Shipping Companies Report Solid 2025 Results Elsewhere in the maritime sector, fellow travel and hospitality company Boyd Gaming also announced positive Q4 and full-year 2025 financial results. In its earnings release, Boyd Gaming CEO Keith Smith noted, "Our Company delivered another successful year, driven by the continued strength of our diverse regional casino entertainment portfolio." The strong performance from major cruise and shipping firms suggests the maritime industry is bouncing back from the disruptions of the past few years, providing optimism for 2026 and beyond. ## Tropical Photoshoot Backdrop In other news, the South Seas resort on Florida's Captiva Island was selected as the primary location for the Sports Illustrated Swimsuit February 2026 digital issue. The iconic island resort served as the complete backdrop for a six-cover feature showcasing "dynamic women," according to the press release. "South Seas on Captiva Island provided the perfect tropical setting to showcase the athleticism and beauty of our SI Swimsuit models," said MJ Day, Editor of Sports Illustrated Swimsuit. "The resort's stunning beaches, lush landscapes, and first-class amenities made it an ideal choice for this high-profile photoshoot." The feature is expected to drive significant exposure and tourism interest for the Captiva Island destination.