EarningsQ2 2026 Earnings Report
MX:MGM Q2 2026 EPS Results
Actual EPS$10.72
Consensus EPS$10.15
Beat/MissBeat by +$0.56
One Year Ago EPS$14.35
MX:MGM Q2 2026 Revenue Results
Actual Revenue$80.84B
Expected Revenue$80.21B
Beat/MissBeat by +$629.73M
YoY Revenue Growth+1.05%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:MGM Upcoming Earnings
MGM Resorts's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MGM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operational and financial positives — record consolidated revenue, Strip EBITDAR improvement, all‑time regional results, double‑digit digital/topline growth, higher convention mix and tangible progress on Osaka — while acknowledging some short‑term headwinds such as hold volatility, seasonal softness at lower‑tier Strip properties, digital profitability still negative in the near term, and sensitivity in Macau to events. Management emphasized momentum, normalization (Macau rebound, July improvement in Vegas), disciplined capital allocation (share buybacks, targeted CapEx), and an overall constructive outlook.Company Guidance
Record Consolidated Revenue and Strip Momentum
Company delivered record second quarter consolidated net revenue; Las Vegas Strip resorts posted year‑over‑year revenue growth for the second consecutive quarter and Strip segment adjusted EBITDAR increased by $25 million year‑over‑year, driven largely by recovery at MGM Grand.
Strong MGM Digital Growth
MGM Digital/net revenues grew ~20% year‑over‑year in the quarter (described as double‑digit/drove healthy growth) and reported continued progress toward profitability; segment adjusted EBITDAR loss was $31 million in Q2 with management expecting full‑year EBITDA losses to be lower than last year.
Convention and Group Strength
Group and convention business contributed meaningfully: group represented 20% of room mix in Q2 and is on pace to represent ~20% of room mix for the full year; the company reported the highest second‑quarter convention ADR and catering/banquet revenue in its history.
Regional Operations Record Quarter
Regional portfolio delivered all‑time best same‑store quarterly revenue; Borgata and Beau Rivage set record quarterly revenues, contributing to record same‑store casino revenues and slot win in the regionals.
MGM China Market Outperformance
MGM China maintained a 16.4% market share in Macau, a sequential increase of 1.0 percentage point; management noted volumes rebounded after a World Cup‑related dip in June and July performance improved to near Q1 levels.
BetMGM / iGaming Momentum
BetMGM venture: over two‑thirds of net revenue from iGaming; iGaming segment grew ~8% in Q2; H1 handle per active grew ~7% and NGR per active grew ~9%; international launches (e.g., Sweden, Alberta) showed encouraging early traction.
Osaka Development On Time and On Budget
MGM Osaka construction milestone: over 60% of foundation piles completed, main structure rising; project remains on time and on budget for a 2030 opening with $125–175 million expected funding commitment in H2 and ~ $1 billion planned to deploy in each of 2027 and 2028.
Share Repurchases and Capital Discipline
Repurchased ~4.3 million shares for ~$164 million in the quarter; over the last five years share count has been reduced by nearly 50%, reflecting ongoing capital allocation to buybacks.
All‑Inclusive Offer Driving New Guests
All‑inclusive Las Vegas offering has supported occupancies and forward bookings at Luxor/Excalibur; nearly half (~50%) of guests booked through the offer were first‑time visitors, aiding value perception and margin profile.
MX:MGM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed