Companies /Consumer Cyclical

MGM Resorts International

NYSE: MGM Resorts & Casinos
$43.19
▼ $0.27 (−0.62%) today
Markets open · 1:28pm ET

Q2 2026 Earnings

Reported Jul 29, 2026, 4:15pm ET · SEC source
$0.59
Beat +1.95%
EPS · est. $0.58
$4.5B
Beat +0.78%
Revenue · est. $4.4B
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−4%−2%0+2%Jul 29Jul 30report 4:15pm ETearnings+2.1%−2.9%
−4%−2%0+2%Jul 29Jul 30earnings+2.1%−2.9%
MGM −2.9%S&P 500 +2.1%
−3%0+3%Jul 29Jul 30report 4:15pm ETearnings+3.9%−2.9%
−3%0+3%Jul 29Jul 30earnings+3.9%−2.9%
MGM −2.9%NASDAQ +3.9%
−4%0+4%Jul 28Aug 6report 4:15pm ETearnings+5.6%−3.2%
−4%0+4%Jul 28Aug 6earnings+5.6%−3.2%
MGM −3.2%S&P 500 +5.6%
−5%0+5%+10%Jul 28Aug 6report 4:15pm ETearnings+8.3%−3.2%
−5%0+5%+10%Jul 28Aug 6earnings+8.3%−3.2%
MGM −3.2%NASDAQ +8.3%
−0.37%
Day of report
−2.39%
Next session
−2.10%
One week

Did MGM Beat Earnings? Q2 2026 Results

MGM Resorts International posted a modest but clean beat in the second quarter of 2026, with adjusted EPS of $0.59 edging past the $0.58 consensus by 1.95% and revenue of $4.45 billion topping estimates by 0.78% on 1.1% year-over-year growth. The headline story, however, is a tale of moving parts: GAAP net income surged to $292.43 million from $48.95 million a year ago, largely on the back of a $286.69 million net property transactions gain tied to asset dispositions, while Consolidated Adjusted EBITDA slipped to $610.39 million from $647.51 million, reflecting margin pressure at MGM China and Regional Operations. Las Vegas Strip Resorts were the operational bright spot, with revenue climbing 3% to $2.17 billion, fueled by a 29.6% table games win percentage. MGM Digital continued its momentum with 20% revenue growth to $196.31 million. Looking ahead, management pointed to the MGM Osaka integrated resort, targeted for a 2030 opening, and continued capital deployment toward Las Vegas luxury offerings as key growth drivers.

Key Takeaways
  • Record second quarter consolidated revenue
  • Second consecutive quarter of Las Vegas Strip Resorts year-over-year revenue growth
  • All-time best Regional Operations same-store quarterly revenue
  • 20% year-over-year revenue growth at MGM Digital
  • Strong Las Vegas Strip casino revenue up 17% driven by 29.6% table games win percentage
  • Segment Adjusted EBITDAR growth at Las Vegas Strip Resorts up 3%

“MGM Resorts once again demonstrated the strength of our diversified portfolio with record second quarter consolidated revenue driven by a second consecutive quarter of year-over-year revenue growth for Las Vegas Strip Resorts, all-time best Regional Operations same-store quarterly revenue, and 20% year-over-year revenue growth at MGM Digital. Alongside this momentum in our existing operations, we continue to build for the future with investment in the largest integrated resort in the world, MGM Osaka, on track for 2030 opening, as well as returns on our digital businesses.”

MGM Resorts CEO, on the earnings call

Forward Guidance & Outlook

MGM Resorts highlighted continued investment in MGM Osaka, on track for a 2030 opening, and signaled continued growth capital allocation toward Las Vegas luxury offerings. The company also referenced expectations for growth at MGM Digital, BetMGM North America Venture, and MGM China. The forward-looking statements also referenced expansion considerations in Dubai and the potential acquisition proposal from People Incorporated.

MGM YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$2.0B$4.0B$4.4B$4.5BRevenue$404.6M$503.6MOperating Income$49.0M$322.8MNet Income
$0$2.0B$4.0BRevenueOperating IncomeNet Income

MGM Revenue by Segment

Las Vegas Strip Resorts$2.2B+3.0%
MGM China$1.1B−0.8%
Regional Operations$924.1M−4.0%
MGM Digital$196.3M+20.0%
Management and other operations$59.7M+15.6%

Figures from SEC filings and company reports. Not investment advice.