MGM Resorts Balances Macau and Las Vegas in Third Quarter

MGM Resorts International reported a mixed picture for the third quarter of 2026. Record results in Macau and higher profitability in digital operations offset weak performance in Las Vegas.

Las Vegas Strip hotels generated revenue of $1.95 billion. That figure is 2% below the $1.99 billion recorded in the same quarter last year. The segment's adjusted EBITDA fell 12% to $531 million, and its margin declined from 30.3% to 27.2%.

Regional operations generated revenue of $883 million, down 8%. The sale of Northfield Park contributed to this decline. On a same-store basis, revenue rose 1%. MGM reported its highest same-store slot win of all time and record same-store casino revenue for the third quarter.

MGM China reported record quarterly revenue of $1.14 billion. Revenue rose 5%, and its market share reached a record 17.1%. The segment's EBITDA was $264 million, compared with $284 million a year earlier.

In digital operations, MGM Digital's revenue rose 6% to $184 million. Its EBITDA loss narrowed from $23 million to $4 million. The BetMGM North America joint venture generated net revenue of $710 million and increased its adjusted EBITDA 112% to $86 million. The company reiterated its full-year 2026 guidance of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in EBITDA.

The MGM Osaka integrated resort is planned to open in 2030. The project's construction progress stands at 11%. The resort is planned to have 9,220 gaming positions and is expected to attract 19.9 million visitors per year.