MGM Resorts reports $4.21bn revenue for Q3 2026

MGM Resorts International reported consolidated revenue of $4.21bn for the third quarter of 2026, a decline of 1% from $4.25bn in the same period a year earlier, according to results the company published on 28 October 2026. The net loss attributable to shareholders narrowed to $17m from $285m. Consolidated adjusted EBITDA fell to $403m from $506m in Q3 2025.

Diluted loss per share narrowed to $0.07 from $1.05, while adjusted result per share moved from a profit of $0.24 to a loss of $0.11. For the first nine months of 2026, consolidated revenue reached $13.12bn, against $12.93bn a year earlier, and net profit attributable to MGM Resorts was $400.46m, compared with a loss of $87.75m in the first nine months of 2025.

Las Vegas Strip Resorts generated revenue of about $2bn, down 2% year on year, and adjusted EBITDAR for the segment fell 12% to $531m from $601m. Casino operations on the Strip grew 8% to $488m from $450m. Table games volume rose 5% to $1.44bn and gross casino wins on those games rose 17% to $363m from $309m, with hold rising to 25.3% from 22.6%.

Slot play on the Strip rose 1% to $6.2bn and gross slot revenue grew 2% to $582m, with hold at 9.4% against 9.3%. Rooms revenue fell 6% to $622m from $660m. Occupancy was steady at 89%, while average daily rate dropped 8% to $218 from $236 and revenue per available room fell 8% to $193 from $210.

Regional Operations, covering US markets outside the Las Vegas Strip, reported revenue of $883m, down 8% from $957m, though on a same-store basis excluding divestments revenue rose 1% from $873m to $883m. Adjusted EBITDAR for the segment fell 18% to $243m from $296m, a 7% decline on a like-for-like basis. Regional casino revenue fell 10% to $626m, slot play dropped 9% to $6.31bn and gross slot revenue fell 11% to $629m.

MGM China posted record quarterly revenue of $1.14bn, up 5% from $1.09bn, and a record quarterly market share of 17.1%. Adjusted EBITDAR for the segment fell 7% to $264m from $284m, a result the company said was also affected by a $22m increase in intra-group brand licensing costs. MGM China casino revenue rose 4% to $981m from $947m. Main-floor table game volume fell 10% to $3.68bn from $4.07bn, while gross wins rose 1% to $1.02bn and hold rose to 27.7% from 24.7%.

MGM Digital, the division comprising LeoVegas and other consolidated online gaming subsidiaries, reported revenue of $184m, up 6% from $174m, and its adjusted EBITDAR loss narrowed to $4m from $23m. The BetMGM North America joint venture, which is not fully consolidated, contributed $26.74m of operating result, against $23.73m a year earlier. Joint venture distributions and brand licensing fees to MGM Resorts totalled $34m in the quarter.

Bill Hornbuckle, president and chief executive of MGM Resorts International, said the group continued to focus on managing its operations effectively. He said adjusted EBITDAR for the Las Vegas Strip Resorts segment over the trailing 12 months had grown by almost 70% against calendar year 2019, and that while lower hotel rates in the third quarter had affected results, October had shown a favourable recovery.

Hornbuckle also said the group's diversified portfolio continued to be an advantage, citing 5% revenue growth and a strong market-share performance at MGM China and revenue growth at the digital businesses, including BetMGM North America Venture and MGM Digital. He said MGM Resorts remained committed to its aim of becoming the largest company in gaming and entertainment, through integrated resorts globally, a digital presence and a growth pipeline including MGM Osaka in Japan.

Chief financial officer Jonathan Halkyard pointed to the amended voting rights agreement announced by the company, which he said created favourable conditions for continuing its share buyback programme. He said MGM Resorts had repurchased almost half of its shares outstanding over the past five years. At 30 September 2026, the group held about $2.40bn in cash and cash equivalents, against $2.06bn at the end of 2025, and long-term financial debt stood at $5.67bn, down from $6.23bn in December 2025.