MGM Resorts Announces First Quarter 2026 Financial Results Highlighting Revenue Growth
Strong Revenue Growth Despite EBITDA Challenges
MGM Resorts International, a leading company in the casino and hospitality industry, released its financial results for the first quarter of 2026, showing steady revenue growth alongside a modest decline in adjusted EBITDA.
Financial Performance Overview
The company reported total net revenues of $4.5 billion, representing a 4% increase compared to the same period last year. However, net income attributable to MGM Resorts decreased to $125 million from $149 million in the previous year.
Adjusted EBITDA for the quarter was $580 million, down from $637 million recorded in Q1 2025. Earnings per share also saw a decline, with diluted earnings falling to $0.48 and adjusted diluted earnings per share dropping to $0.49, compared to $0.69 in the prior year quarter.
Segment Performance Details
The Las Vegas Strip Resorts segment posted net revenues of $2.2 billion, a slight increase from the previous year. Despite this growth, the segment’s adjusted EBITDAR decreased by 8%, totaling $749 million for the quarter.
Regional Operations achieved net revenues of $918 million, up 2% year-over-year, but saw a 7% decline in adjusted EBITDAR, which stood at $259 million.
MGM China experienced a 9% increase in net revenues, reaching $1.1 billion. However, the segment’s adjusted EBITDAR fell by 4% to $273 million, with an administration note that intercompany branding license fees rose by $23 million.
The MGM Digital segment demonstrated strong growth, with net revenues climbing 43% to $183 million. Its adjusted EBITDAR loss improved, narrowing to $26 million compared to $34 million in Q1 2025.
Leadership Outlook and Future Expectations
Bill Hornbuckle, president and CEO of MGM Resorts International, expressed satisfaction with the company’s steady performance, particularly emphasizing the positive momentum in Las Vegas after a period of mixed results. He voiced optimism for continued growth throughout the rest of 2026.
“As we move into the second quarter and beyond, we are encouraged by strong convention bookings, the introduction of an all-inclusive promotion, and refreshed rooms at MGM Grand Las Vegas,” said Hornbuckle.
Jonathan Halkyard, CFO of MGM Resorts, highlighted the recent sale of MGM Northfield Park operations for $546 million, describing it as a significant milestone that provided capital to reinvest in prioritized areas of the business.
