MGM Resorts International earnings overview

MGM FY2026 Q1 · Calendar Q2 2026

MGM Resorts International

MGM Resorts' fiscal Q1 2026 results tell a story of operational recovery and digital acceleration, tempered by a one-time expense headwind. Las Vegas returned to year-over-year revenue growth, fueled by record convention ADRs and a new all-inclusive bundle that attracted many first-time visitors. The digital segment grew revenue 43%, with BetMGM nearing $2 billion in annual revenue and LeoVegas expanding in Europe. MGM China posted a 9% revenue increase with Macau suite renovations complete. Against these gains, sharply higher self-insurance costs from litigation created a one-time EBITDA hit. Revenue beat consensus by nearly 2% while EPS narrowly missed by about 1.3%. The stock initially dipped post-report but subsequently drifted roughly 12% higher, suggesting the market looked past the expense spike to the underlying operational momentum. Management tone was confident with a…