MGM Resorts Q3 2026: Strip Room Rates Sink 8%, Driving a Rare Quarterly Loss
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Las Vegas Strip room rates fell 8%, dragging MGM Resorts to a quarterly loss that missed expectations while revenue landed in line. Macau strength and a narrowing digital loss were not enough to offset it, and management says October rates have already rebounded.
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An 8% slide in Las Vegas Strip average daily rates pushed MGM Resorts to a quarterly loss of $0.11 per share, missing expectations. That is the company's sharpest single-quarter earnings reversal in recent memory.
Revenue held essentially flat with the estimate, in line with expectations, so the damage sits in the margin line. Strip Segment Adjusted EBITDAR fell 12%, showing how hard fixed costs bite when room pricing softens.
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Two segments moved the other way: MGM China posted 5% revenue growth and a record market share, while MGM Digital narrowed its Adjusted EBITDAR loss toward breakeven.
CEO Bill Hornbuckle said October results on the Las Vegas Strip have rebounded favorably, but no formal guidance was provided, leaving investors weighing that assertion against one quarter of hard data. MGM Osaka and an amended voting agreement enabling share repurchases remain the longer-term catalysts.
Sources
Mentioned: MGM