MGM Resorts International Reports Q3 2026 Financial Results Amid Strip Softness and Strong International and Digital Growth

LAS VEGAS, Nevada—Global hospitality and entertainment giant MGM Resorts International has released its financial results for the third quarter ended September 30, 2026, offering a comprehensive look at the company’s performance across its diverse operating segments. The report highlights a quarter of operational resilience, characterized by robust international expansion, surging digital ventures, and a notable recovery in domestic visitation following temporary headwinds on the Las Vegas Strip.

Statements From Leadership

Addressing the financial community and stakeholders, Bill Hornbuckle, president and CEO of MGM Resorts International, emphasized the company’s strategic positioning and long-term trajectory. He noted that while short-term market dynamics influenced domestic lodging metrics during the period, the broader operational framework remains exceptionally strong.

“MGM Resorts remains highly focused on the successful operations of our businesses,” said Hornbuckle. “Our trailing twelve months Las Vegas Strip Resorts Segment Adjusted EBITDAR has grown by nearly 70 percent since calendar year 2019 and, while lower room rates during the third quarter impacted our results, October has rebounded favorably. Our diverse portfolio remains an advantage, with MGM China achieving 5 percent revenue growth and strong market share performance, while our digital businesses—including our BetMGM North America Venture and MGM Digital—reported strong topline growth during the third quarter.”

Hornbuckle further underscored the company’s grand strategic vision for the future, highlighting key international developments that are expected to redefine the brand’s global footprint. “MGM Resorts remains dedicated to our mission to be the world’s largest gaming and entertainment company with global integrated resorts,

a leading digital presence, and, notably, an enviable growth pipeline with MGM Osaka to drive future value.”

Complementing the chief executive’s remarks, Jonathan Halkyard, chief financial officer of MGM Resorts International, shed light on the corporate financial strategy, capital allocation, and shareholder value initiatives. Halkyard pointed to corporate governance updates and aggressive historical share repurchases as pillars of confidence for investors looking at the company’s valuation.

“The amended voting agreement announced earlier today establishes a highly supportive framework that enables MGM Resorts to confidently pursue value-creating share repurchases as part of our ongoing commitment to enhancing shareholder value and driving longer-term growth,” said Halkyard. “The combination of our attractive stock valuation, the repurchase of nearly half of our outstanding share count over the past five years, and pivotal growth drivers—including our digital portfolio and MGM Osaka—positions the company as a premier long-term opportunity.”

Third Quarter 2026 Financial Highlights

The newly released financial disclosures provide a granular overview of how different sectors within the sprawling MGM ecosystem performed throughout the third quarter. As the gaming and hospitality industry navigates shifting consumer habits, fluctuating macroeconomic pressures, and changing international travel patterns, MGM’s multifaceted business model—spanning traditional brick-and-mortar resorts, lucrative regional markets, international gaming hubs in Asia, and rapidly scaling digital platforms—continues to serve as a critical cushion against localized volatility.

Consolidated Results

On a consolidated level, the company balanced domestic pressures with international gains. While the broader macroeconomic backdrop introduced challenges regarding pricing power on the Las Vegas Strip during the heart of the summer travel season, the overall enterprise demonstrated operational durability. Management noted that the temporary dip in average daily room rates experienced during the third quarter did not persist into the final quarter of the year, with October showing a marked and encouraging operational rebound across key domestic properties.

Las Vegas Strip Resorts

The Las Vegas Strip remains the heartbeat of the MGM portfolio, representing a massive portion of the company’s asset value and historical earnings generation. During the third quarter, the segment felt the pinch of lower room rates compared to the same period in previous years. However, executive leadership was quick to contextualize these figures within a much broader, highly profitable multi-year recovery timeline. Since calendar year 2019, the company’s trailing twelve months Las Vegas Strip Resorts Segment Adjusted EBITDAR has expanded by nearly 70 percent, showcasing structural financial health and structural pricing power that far exceeds pre-pandemic benchmarks despite quarterly fluctuations. Furthermore, the immediate bounce-back observed in October signals that domestic leisure and convention demand remains fundamentally sound.

Regional Operations

Beyond the neon lights of Las Vegas, MGM’s regional properties across the United States continued to play a steadying role within the corporate portfolio. These regional assets cater to drive-in markets and localized gaming enthusiasts, providing a reliable stream of cash flow and maintaining consistent visitor volumes. The company’s regional operations have consistently proven to be a strategic stabilizer, absorbing regional economic variances and contributing stable contributions to consolidated earnings while large-scale destination resorts undergo cyclical shifts in room pricing and convention pacing.

MGM China

Internationally, MGM China emerged as a standout performer for the quarter, validating the company’s strategic investments in the Asian gaming and entertainment market. MGM China reported a 5 percent increase in revenue year-over-year, alongside robust market share performance that underscored the property’s competitive edge in Macau. As international tourism and regional travel continue to normalize and expand across Asia, MGM China’s ability to capture premium customer segments has reinforced its status as a vital engine for top-line growth.

MGM Digital

The digital frontier also proved to be a significant driver of momentum for the corporation. MGM Digital, anchored by the high-profile BetMGM North America venture and broader proprietary digital initiatives, posted strong top-line growth during the third quarter. As online sports betting and digital iGaming markets mature across North America, MGM’s aggressive positioning in the digital space continues to capture market share, diversify revenue streams, and engage a younger, digitally native demographic of entertainment consumers. The ongoing expansion of digital capabilities aligns seamlessly with the company’s long-term vision of operating as a truly omnichannel global entertainment enterprise, bridging physical resort experiences with interactive digital entertainment.