- 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. Our trailing twelve months Las Vegas Strip Resorts Segment Adjusted EBITDAR has grown by nearly 70% since calendar year 2019 and, while lower room rates during the third quarter impacted our results, October has rebounded favorably. Our diverse portfolio remains an advantage, with MGM China achieving 5% revenue growth and strong market share performance, while our digital businesses - including our BetMGM North America Venture and MGM Digital - reported strong topline growth during the third quarter," said Bill Hornbuckle, President & CEO of MGM Resorts International. "MGM Resorts remains dedicated to our mission to be the world's largest gaming and entertainment company with global integrated resorts, a leading digital presence, and, notably, an enviable growth pipeline with MGM Osaka to drive future value."

"The amended voting agreement announced earlier today establishes a highly supportive framework that enables MGM Resorts to confidently pursue value-creating share repurchases as part of our ongoing commitment to enhancing shareholder value and driving longer-term growth," said Jonathan Halkyard, Chief Financial Officer of MGM Resorts International. "The combination of our attractive stock valuation, the repurchase of nearly half of our outstanding share count over the past five years, and pivotal growth drivers - including our digital portfolio and MGM Osaka - positions the company as a premier long-term opportunity."

Third Quarter 2026 Financial Highlights:

Consolidated Results

- Consolidated revenue of $4.2 billion, a decrease of 1% compared to the prior year quarter

- Net loss attributable to MGM Resorts was $17 million in the current quarter compared to net loss attributable to MGM Resorts of $285 million in the prior year quarter

- Consolidated Adjusted EBITDA of $403 million in the current quarter compared to $506 million in the prior year quarter

- Diluted loss per share of $0.07 in the current quarter compared to a loss per share of $1.05 in the prior year quarter

- Adjusted diluted earnings (loss) per share ("Adjusted EPS") of $(0.11) in the current quarter compared to $0.24 in the prior year quarter

Las Vegas Strip Resorts

- Revenue of $2.0 billion in the current quarter, a decrease of 2% compared to the prior year quarter

- Segment Adjusted EBITDAR of $531 million in the current quarter compared to $601 million in the prior year quarter, a decrease of 12%

Regional Operations

- Revenue of $883 million in the current quarter compared to $957 million in the prior year quarter, a decrease of 8%

- Same-store revenue (adjusted for dispositions) of $883 million in the current quarter compared to $873 million in the prior year quarter, an increase of 1%

- Segment Adjusted EBITDAR of $243 million in the current quarter compared to $296 million in the prior year quarter, a decrease of 18%

- Same-Store Segment Adjusted EBITDAR of $243 million in the current quarter compared to $260 million in the prior year quarter, a decrease of 7%

MGM China

- Revenue of $1.1 billion in the current quarter, an increase of 5% compared to the prior year quarter

- Segment Adjusted EBITDAR of $264 million in the current quarter compared to $284 million in the prior year quarter, a decrease of 7%

- Intercompany branding license fee expense increased by $22 million over the prior year quarter

MGM Digital (1)

- Revenue of $184 million in the current quarter compared to $174 million in the prior year quarter, an increase of 6%

- Segment Adjusted EBITDAR loss of $4 million in the current quarter compared to a loss of $23 million in the prior year quarter

Adjusted EPS

The following table reconciles diluted loss per share ("EPS") to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):

Las Vegas Strip Resorts

The following table shows key gaming statistics for Las Vegas Strip Resorts:

The following table shows key hotel statistics for Las Vegas Strip Resorts:

Regional Operations

The following table shows key gaming statistics for Regional Operations:

MGM China

The following table shows key gaming statistics for MGM China:

Intercompany branding license fee expense for MGM China, which eliminates in consolidation, was $41 million in the current quarter and $19 million in the prior year quarter.

Unconsolidated Affiliates

The following table summarizes information related to the Company's share of operating income from unconsolidated affiliates:

Conference Call Details

MGM Resorts will host a conference call at 5:00 p.m. Eastern Time today, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com.

The call will be accessible via the internet through http://investors.mgmresorts.com/events-and-presentations/ or by calling 1-888-317-6003 for domestic callers and 1-412-317-6061 for international callers. The conference call access code is 9250061.

A replay of the call will be available through November 4, 2026. The replay may be accessed by dialing 1-855-669-9658 or 1-412-317-0088. The replay access code is 9853875.

"Segment Adjusted EBITDAR" is our reportable segment GAAP measure, which we utilize as the primary profit measure for our reportable segments and underlying operating segments. Segment Adjusted EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, triple net lease rent expense, income from unconsolidated affiliates, goodwill impairment, and also excludes corporate expense and stock compensation expense, which are not allocated to each operating segment. Triple net lease rent expense is the expense for rent to landlords under triple net operating leases for its domestic properties, the ground subleases of Beau Rivage and MGM National Harbor, and the land concessions at MGM China.

"Same-Store Segment Adjusted EBITDAR" is Segment Adjusted EBITDAR further adjusted to exclude the Segment Adjusted EBITDAR of disposed operating segments from the beginning of the reporting period through the date of disposition. Accordingly, for Regional Operations, we have excluded the Segment Adjusted EBITDAR of MGM Northfield Park for the periods prior to its disposition on April 21, 2026, as applicable.

Same-Store Segment Adjusted EBITDAR is a non-GAAP measure and is presented solely as a supplemental disclosure to reported GAAP measures because management believes this measure is useful in providing meaningful period-to-period comparisons of the results of the Company's operations for operating segments that were consolidated for the full period presented to assist users of the financial statements in reviewing operating performance over time. Same-Store Segment Adjusted EBITDAR should not be viewed as a measure of overall operating performance, considered in isolation, or as an alternative to the Company's reportable segment GAAP measure or net income, or as an alternative to any other measure determined in accordance with generally accepted accounting principles, because this measure is not presented on a GAAP basis, and is provided for the limited purposes discussed herein. In addition, Same-Store Segment Adjusted EBITDAR may not be defined in the same manner by all companies and, as a result, may not be comparable to similarly titled non-GAAP financial measures of other companies, and such differences may be material. A reconciliation of the Company's reportable segment Segment Adjusted EBITDAR GAAP measure to Same-Store Segment Adjusted EBITDAR is included in the financial schedules in this release.

"Consolidated Adjusted EBITDA" is earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, and goodwill impairment. Consolidated Adjusted EBITDA information is a non-GAAP measure that is presented solely as a supplemental disclosure to reported GAAP measures because it is among the measures used by management to evaluate our operating performance, and because we believe this measure is widely used by analysts, lenders, financial institutions, and investors as a measure of operating performance in the gaming industry and as a principal basis for the valuation of gaming companies. We believe that while items excluded from Consolidated Adjusted EBITDA may be recurring in nature and should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods because these items can vary significantly depending on specific underlying transactions or events that may not be comparable between the periods being presented. Also, we believe excluded items may not relate specifically to current operating trends or be indicative of future results. For example, preopening and start-up expenses will be significantly different in periods when we are developing and constructing a major expansion project and will depend on where the current period lies within the development cycle, as well as the size and scope of the project(s).