MGM Resorts International (MGM) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and MGM Resorts International published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. MGM Resorts International reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• MGM Resorts International reports in thousands of dollars; figures here are converted to millions without rounding.
• MGM Resorts sold the operations of MGM Northfield Park on April 21, 2026. Regional Operations revenue is therefore not like-for-like; MGM Resorts reports same-store Regional revenue of $883 million against $873 million.
• MGM Resorts' release contains no financial outlook for the fourth quarter or the full year.

Source: MGM Resorts International Q3 2026 earnings release (Form 8-K, Exhibit 99.1), October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How MGM Resorts International splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• MGM Resorts International's Las Vegas Strip Resorts revenue was $2.0 billion in Q3 2026, down 2% from $2.0 billion in Q3 2025, 46% of total revenue.
• MGM Resorts International's Regional Operations revenue was $883 million in Q3 2026, down 8% from $957 million in Q3 2025, 21% of total revenue.
• MGM Resorts International's MGM China revenue was $1.1 billion in Q3 2026, up 5% from $1.1 billion in Q3 2025, 27% of total revenue.
• MGM Resorts International's MGM Digital revenue was $184 million in Q3 2026, up 6% from $174 million in Q3 2025, 4% of total revenue.
• MGM Resorts International's Management and other operations revenue was $52.5 million in Q3 2026, up 11% from $47.2 million in Q3 2025, 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's earnings release. MGM Resorts filed its Q4 2025 financial statements in a Form 8-K on February 4, 2026, a day before the full earnings release.

We do not hold a confirmed date for MGM Resorts International's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

MGM Resorts International's consolidated revenue was $4.2 billion in Q3 2026, down 1% from a year earlier. Las Vegas Strip Resorts brought in $2.0 billion (46.4% of the total), MGM China $1.1 billion (27.0%), Regional Operations $883 million (21.0%) and MGM Digital $184 million. By type, casino revenue was 54.7% of the total and rooms 18.1%. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026)

MGM Resorts' Las Vegas Strip revenue fell 2%, or $30 million, which the 10-Q attributes to lower room rates and lower entertainment revenue, partly offset by casino revenue. Average daily rate fell 8% to $218 and RevPAR fell 8% to $193 at 89% occupancy, unchanged. Casino revenue rose 8% to $488 million as table games win rose to 25.3% of drop from 22.6%. Strip Segment Adjusted EBITDAR fell 12% to $531 million. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

MGM China, which owns MGM Macau and MGM Cotai and in which MGM Resorts holds an approximate 56% controlling interest, had record quarterly revenue of $1.1 billion, up 5% or $50 million, and a record 17.1% market share. The 10-Q attributes the increase to a higher main floor win rate, 27.7% against 24.7%, partly offset by lower volume: main floor table games drop fell 10% to $3,682 million. MGM China's Segment Adjusted EBITDAR fell 7% to $264 million as its branding license fee to MGM Resorts rose to $41 million from $19 million. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

MGM Resorts' Regional Operations revenue fell 8% to $883 million, mainly because it sold the operations of MGM Northfield Park on April 21, 2026; same-store revenue rose 1% from $873 million. MGM Digital, which is LeoVegas and other consolidated online gaming businesses, grew revenue 6% to $184 million. The 50% owned BetMGM North America Venture is not in revenue; it paid MGM Resorts $34 million of distributions and branding license fees in the quarter. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

MGM Resorts International's diluted loss per share was $0.07 in Q3 2026, against a loss of $1.05 a year earlier, on a net loss attributable to MGM Resorts of $17 million against $285 million. The year-ago loss included a goodwill impairment worth $0.94 per share and property transaction charges worth $0.37, tied mainly to Empire City after MGM Resorts decided to withdraw its application for a commercial gaming license there. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

MGM Resorts' Adjusted EPS was a loss of $0.11, against $0.24 a year earlier. Adjusted EPS excludes property transactions, goodwill impairment, gains and losses on debt and equity investments, foreign currency transaction gains and losses and changes in the fair value of foreign currency contracts. In Q3 2026 those items netted to a $0.04 per share benefit to GAAP results: a $0.18 investment loss against gains of $0.06 on property transactions, $0.06 on foreign currency transactions and $0.10 on currency contracts. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026)

MGM Resorts recorded an income tax benefit of 79.1% of pretax income in Q3 2026, which the 10-Q attributes to the mix of U.S. and foreign income, including Macau gaming profits that are exempt from complementary tax. Net income attributable to noncontrolling interests, mostly MGM China's minority holders, was $56.3 million. Weighted average shares fell to 251,964 thousand from 272,517 thousand; MGM Resorts repurchased about 7 million shares for $253 million in the first nine months of 2026. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

MGM Resorts International does not publish a revenue or earnings outlook in its release. Its CEO said lower room rates hurt the third quarter and that October has rebounded favorably. Its CFO said an amended voting agreement announced the same day supports share repurchases; $1.4 billion remained under the April 2025 $2.0 billion repurchase plan at September 30, 2026. (MGM Resorts International Q3 2026 earnings release, Oct 28, 2026; MGM Resorts International Form 10-Q, Q3 2026, Oct 28, 2026)

MGM Resorts' 10-K for 2025 put planned 2026 capital expenditures at about $950 million to $1.05 billion on a consolidated basis, and set out a commitment to fund about JPY356.9 billion more of the MGM Osaka integrated resort through 2028. The 10-K also gives annual triple net lease rent payments of $1.8 billion for its domestic properties. (MGM Resorts International Form 10-K, 2025, Feb 11, 2026)

A consensus figure is the average of the models published by the analysts who cover MGM Resorts International, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones MGM Resorts International's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MGM is on is MGM a buy or a sell?, what analysts expect next is on the MGM forecast, and what the company does is on the MGM Resorts International (MGM) stock page.

Every number on this page can be traced to a document MGM Resorts International published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.