WSJ·Oct 28, 2026
MGM Resorts Revenue Ticks Down on Lower Room Rates in Las VegasThe decrease offset growth in the hotel and casino company's China business, where sales rose 5% to $1.1 billion, marking record quarterly revenue.
MGM's operating cash flow remains anchored, with $532.5M generated in Q3 2026 even as net income turned negative at -$17.1M, suggesting underlying cash generation is stronger than reported earnings.
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Operating margin fell from 9.8% in Q2 2024 to 2.8% in Q3 2026 while revenue plateaued near $4.2-4.6B, suggesting SG&A growth is not being absorbed efficiently by the top line.
MGM Resorts is transitioning to an asset-light model, which reduces capital intensity and improves return on invested capital.
MGM's well-known brand and prime real estate locations provide a competitive advantage and pricing power.
The company's disciplined approach to share repurchases enhances shareholder value and supports earnings per share growth.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | -$0.11-405.6% vs $0.04 | $4.2B-0.1% vs $4.2B |
Q3 2026 Jul 29, 2026 | $0.59+5.5% vs $0.56 | $4.5B+0.8% vs $4.4B |
Q2 2026 Apr 29, 2026 | $0.49-1.3% vs $0.50 | $4.5B+2.0% vs $4.4B |
Q1 2026 Feb 5, 2026 | $1.60+150.0% vs $0.64 | $4.6B+2.5% vs $4.5B |
The decrease offset growth in the hotel and casino company's China business, where sales rose 5% to $1.1 billion, marking record quarterly revenue.
Regional Operations increased revenue 1% on a same-store basis MGM China achieved record quarterly revenue as well as record quarterly market share of 17.1% BetMGM North America Venture distributions and branding license fees to MGM Resorts totaled $34 million in 3Q2026 LAS VEGAS, Oct. 28, 2026 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended September 30, 2026. "MGM Resorts remains highly focused on the successful operations of our businesses.
LAS VEGAS, Oct. 28, 2026 /PRNewswire/ -- MGM Resorts International ("MGM Resorts" or the "Company") today announced that it has amended its existing Voting Agreement with People Incorporated ("People") (as amended, the "Agreement"). The amendment follows People's withdrawal of its previously announced proposal to acquire MGM Resorts.
MGM gears up for Q3 earnings, with Las Vegas demand, MGM China recovery and digital growth in focus, even as weaker EPS expectations raise concerns.
Benchmark MGM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for MGM Resorts International (MGM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $32.34 | $8.14B | 11.73 | 1.72% | 3.92% | 20.79% | — | |
| $40.73 | $26.38B | 15.90 | 15.22% | 12.05% | 146.8% | 2.95% | |
| $83.11 | $8.63B | 22.49 | 0.14% | 5.2% | — | 2.02% | |
| $29.23 | $5.95B | -11.19 | 2.14% | -4.55% | -14.93% | — | |
| $4.51 | $1.75B | 10.39 | 11.32% | 3.15% | — | 0% | |
| $76.57 | $5.56B | 11.14 | 4.12% | 12.29% | 19.91% | 0.93% |
MGM Resorts International (MGM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
MGM Resorts International (MGM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Oct 28, 2026·SEC
Jul 29, 2026·SEC
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MGM Resorts International (MGM) stock FAQ — growth, dividends, profitability & financials explained
MGM Resorts International (MGM) reported $17.72B in revenue over the trailing twelve months. Revenue was $17.54B in fiscal year 2025. That is 2079% more than the $804.8M of fiscal year 1996.
MGM Resorts International (MGM) grew revenue by 2.6% over the trailing twelve months, compared with the twelve months before.
Yes. MGM Resorts International (MGM) earned $694.5M in net income over the trailing twelve months (a 3.9% net margin).
MGM Resorts International (MGM) had a return on equity (ROE) of 20.8% over the trailing twelve months. That is well above the market's typical 10-15%.
MGM Resorts International (MGM) generated $1.58B in free cash flow over the trailing twelve months.
