Earnings Releases·Oct 28, 2026, 4:15 PM ET

MGM Resorts International — Third Quarter 2026 Earnings Summary

Consolidated revenue decreased 1% year-over-year to $4.2 billion, while net loss narrowed significantly to $17 million from a $285 million loss in the prior year quarter; Adjusted EBITDA declined 20% to $403 million.
Las Vegas Strip Resorts revenue fell 2% due to an 8% drop in Average Daily Rate, though table games win increased 17% and occupancy remained flat at 89%; Regional Operations revenue dropped 8% year-over-year.
MGM China revenue grew 5% to $1.1 billion, achieving a record 17.1% market share, while MGM Digital revenue rose 6% to $184 million with losses narrowing to $4 million.
Management highlighted a pivotal growth pipeline driven by the upcoming MGM Osaka project and a diverse portfolio, noting an October rebound in room rates following the third quarter's weakness.
An amended voting agreement was established to enable value-creating share repurchases, supported by a strong balance sheet with $2.4 billion in cash and long-term debt reduced to $5.7 billion.