MGM Resorts third quarter 2026 revenue misses estimates as Las Vegas room rates soften

MGM Resorts reported third quarter 2026 consolidated revenue of $4.2 billion, a 1% decline that missed analyst expectations. Adjusted diluted loss per share was $0.11, falling short of the $0.15 profit estimate, as room rate pressure on the Las Vegas Strip and segment margin contraction weighed on the bottom line.

Key Highlights

• Las Vegas Strip Adjusted EBITDAR decreased 12% to $531 million, driven by an 8% drop in average daily rates (ADR) to $218.
• MGM China revenue reached a record $1.1 billion, up 5% year-over-year with record quarterly market share of 17.1%.
• Regional Operations same-store revenue rose 1% to $883 million, though same-store segment Adjusted EBITDAR fell 7%.
• BetMGM distributions and branding license fees contributed $34 million to the company during the third quarter.