MGM Resorts Revenue Declines 1% in Third Quarter of 2026
United States.- 30 October 2026 | www.zonadeazar.com MGM Resorts International has reported its financial results for the third quarter of 2026, recording consolidated revenue of US$4.212 billion, representing a 1% year-on-year decline.
The US gaming and hospitality group reported lower operating profitability, primarily reflecting weaker performance at its Las Vegas resorts. However, MGM significantly reduced its net loss and achieved revenue growth in China and its digital business.
Consolidated Adjusted EBITDA reached US$403 million, compared with US$506 million during the corresponding quarter of 2025.
Consolidated Revenue Falls by 1%
For the three months ended 30 September 2026, MGM Resorts reported the following financial results:
- Consolidated revenue: US$4.212 billion, down 1%.
- Adjusted EBITDA: US$403 million, compared with US$506 million.
- Net loss attributable to MGM: US$17 million.
- Loss per share: US$0.07.
- Adjusted loss per share: US$0.11.
The company generated US$4.250 billion in revenue during the third quarter of 2025.
Adjusted EBITDA declined by approximately 20%, reflecting increased pressure on profitability.
MGM Significantly Reduces Net Loss
Despite the revenue decline, MGM achieved a substantial improvement in its bottom-line results.
The net loss attributable to the company narrowed from US$285 million in 2025 to US$17 million in 2026.
This represents a reduction of approximately 94% in quarterly net losses.
Diluted loss per share improved from US$1.05 to US$0.07.
Nevertheless, adjusted operating profitability followed a weaker trend, highlighting differences between accounting results and the performance of recurring operations.
Las Vegas EBITDAR Declines by 12%
MGM’s Las Vegas Strip properties generated approximately US$1.954 billion in revenue, a year-on-year decline of 2%.
Segment Adjusted EBITDAR fell by 12%, from US$601 million to US$531 million.
One of the principal factors was a reduction in hotel room rates during the quarter.
The average daily room rate declined by approximately 8% to US$218, affecting accommodation revenue.
The company considers hotel performance one of the main challenges currently facing its Las Vegas operations.
Regional Operations Grow on a Same-Store Basis
MGM’s regional properties generated US$883 million in revenue, compared with US$957 million during the corresponding quarter of 2025.
Reported revenue declined by 8%, partly reflecting changes to the company’s property portfolio.
Excluding the effect of disposals, comparable revenue increased by 1%.
Regional Segment Adjusted EBITDAR reached approximately US$243 million, compared with US$296 million a year earlier.
The figures demonstrate modest underlying revenue growth accompanied by lower profitability.
MGM China Achieves Record Quarterly Revenue
One of the quarter’s main positive developments came from MGM China, which operates the group’s Macau properties.
The division generated record quarterly revenue of US$1.138 billion, representing 5% year-on-year growth.
It also achieved a record 17.1% share of Macau’s gaming market.
However, Segment Adjusted EBITDAR declined from US$284 million to approximately US$264 million.
The revenue increase reinforces Macau’s importance within MGM Resorts’ international strategy, although profitability followed a different trajectory.
MGM Digital Improves Performance
The MGM Digital segment, which includes LeoVegas and other consolidated digital operations, also reported positive developments.
Third-quarter revenue increased by approximately 6%, from US$174 million to US$184 million.
The division significantly reduced its Segment Adjusted EBITDAR loss:
- Third quarter 2025: US$23.2 million loss.
- Third quarter 2026: US$4.2 million loss.
The improvement reflects progress in the digital business’s operating performance.
MGM continues developing its international presence in sports betting and online casino gaming through its brands and platforms.
BetMGM Contributes US$34 Million
MGM Resorts’ investment in BetMGM, its North American sports betting and online gaming joint venture, also generated financial contributions.
During the third quarter, MGM received US$34 million through joint venture distributions and brand licensing fees.
The figure reflects BetMGM’s contribution to the wider group.
Expansion across digital gambling remains one of MGM Resorts’ principal growth priorities, alongside its integrated resorts and land-based casinos.
Statements From CEO Bill Hornbuckle
Bill Hornbuckle, President and Chief Executive Officer of MGM Resorts International, highlighted the group’s diversified business portfolio.
Hornbuckle acknowledged that lower hotel room rates affected Las Vegas results during the third quarter but noted that trading recovered favourably in October.
He also emphasised MGM China’s revenue growth and the commercial performance of the group’s digital businesses.
According to the executive, MGM remains focused on strengthening its international gaming and entertainment operations through integrated resorts, digital platforms and new development projects.
MGM Osaka Remains a Strategic Development
Among MGM Resorts’ principal expansion projects is MGM Osaka, the integrated resort being developed in Japan.
The project represents one of the company’s most significant international investments.
MGM believes the development will create long-term growth opportunities and support the diversification of its revenue streams.
The company is also pursuing further digital expansion while strengthening its existing properties.
These initiatives form part of its longer-term growth strategy.
Share Repurchases and Financial Strategy
MGM Resorts also announced amendments to its voting agreement, providing greater flexibility to pursue additional share repurchases.
Jonathan Halkyard, Chief Financial Officer, highlighted the importance of the updated framework in supporting shareholder value.
The executive noted that MGM had repurchased nearly half of its outstanding shares over the previous five years.
The company regards share repurchases, digital growth and the MGM Osaka project as important components of its long-term financial strategy.
First Nine Months Show Revenue Growth
Between January and September 2026, MGM Resorts generated US$13.118 billion in revenue, compared with US$12.932 billion during the corresponding period of 2025.
This represented growth of approximately 1.4%.
The company also reported net income attributable to MGM of US$400 million, compared with a US$88 million loss during the first nine months of the previous year.
However, consolidated Adjusted EBITDA declined from US$1.790 billion to US$1.593 billion.
These figures demonstrate an improvement in year-to-date accounting earnings despite weaker adjusted operating profitability.
Industry Impact and Next Steps
The third-quarter results reveal contrasting performances across MGM Resorts’ principal business segments.
While Las Vegas experienced lower revenue and profitability, MGM China achieved record revenue and the digital division narrowed its adjusted operating losses.
The company expects the improvement in trading observed during October to support its US resort operations.
With consolidated revenue of US$4.212 billion and a reduction in net losses from US$285 million to US$17 million, MGM Resorts continues pursuing international growth, digital expansion and the development of new integrated resorts.
Edited by: @fonta
