MGM Resorts (MGM) Q3 2026 Earnings Call Transcript

MGM Resorts reported consolidated Q3 2026 revenue of $4.2 billion, down 1% year over year as lower Las Vegas room revenue and regional asset dispositions weighed on results. The Las Vegas Strip’s adjusted EBITDAR fell 12% to $531 million, driven by lower average daily rates and a heavier mix of promotional casino marketing. Still, Las Vegas casino revenue rose 8% to $488 million, supported by record third-quarter slot win and strong high-end baccarat. Las Vegas ADR slipped 8% to $218 and revenue per available room fell 8% with occupancy flat at 89%. In regional markets, revenue was $883 million (down 8% reported). MGM China delivered $1.1 billion revenue, up 5%, and record segment results, while MGM Digital revenue grew 6% to $184 million.