MGM Resorts reports US$4.2bn in Q3 2026 revenue

MGM Resorts International reported third-quarter 2026 revenue of $4.2bn, a decline of 1% year on year, the company announced. The group recorded a net loss of $17m for the quarter ended 30 September, compared with a loss of $285m in the same period a year earlier. Adjusted EBITDA fell 20% to $403m from $506m.

The Las Vegas segment brought in $2bn, the most of any part of the group, though that was 2% lower than a year earlier; segment adjusted EBITDAR dropped 12% to $531m. Room pricing bore much of the strain: the average daily rate declined 8% to $218 and revenue per available room also declined 8%, to $193. Occupancy held steady at 89%. Strip gaming revenue, by contrast, increased 8% to $488m. More than 500,000 convention room nights were booked during the quarter, exceeding the company's own forecasts.

At MGM China, revenue climbed 5% to $1.1bn, and the Macau operation set a quarterly market share record of 17.1%. That performance came despite a 3.8% decline in casino gaming revenue across Macau as a whole. Occupancy across its two properties reached 94.1%, up from 93.5% a year earlier. Adjusted EBITDAR for the segment declined 7% to $264m, which management linked partly to larger branding fees payable to MGM Resorts.

MGM Digital reported revenue of $184m, up 6% year on year, and an adjusted EBITDAR loss of $4m, compared with a loss of $23m a year earlier. BetMGM net revenue rose 7% to $710m in the third quarter and adjusted EBITDA more than doubled to $86m. The company reaffirmed its 2026 net revenue guidance of $2.9bn to $3.1bn.

In Japan, the Osaka integrated resort stood roughly 11% built, and the company expects it to open as planned in 2030. Through its foundation, MGM has committed over $4.6m to support 211 nonprofit grants spread across several US regions, with staff involved in choosing the local recipients.

In a separate development, reports said MGM was weighing an offer for People Inc. once that media company pulled its bid for the casino operator. MGM subsequently disclosed that it had revised a voting agreement with People, limiting further share purchases to 29.9% ownership and tying its votes on change-of-control deals to the MGM board's position.

Chief executive Bill Hornbuckle described October as getting off to a stronger start, helped by heavier convention business and a packed events calendar that is lifting demand. MGM expects its Las Vegas resorts to gain from major sporting fixtures and other events later in the year.