LAS VEGAS – October 29, 2026 -- MGM Resorts International (NYSE: MGM) cut its third-quarter net loss to $17 million from $285 million a year earlier, even as consolidated Adjusted EBITDA fell to $403 million from $506 million on lower Las Vegas room rates and weaker regional profit.
Consolidated revenue for the quarter ended September 30, 2026, was $4.2 billion, down 1%. Diluted loss per share was $0.07 versus $1.05 in the prior-year quarter. Adjusted EPS swung to a loss of $0.11 from a profit of $0.24.
Las Vegas Strip segment EBITDAR drops 12% on softer room rates
Las Vegas Strip Resorts generated $2.0 billion in revenue, down 2%. Segment Adjusted EBITDAR fell to $531 million from $601 million. CEO Bill Hornbuckle said lower third-quarter room rates hit results but that "October has rebounded favorably." He added that trailing-twelve-month Strip Adjusted EBITDAR has grown nearly 70% since calendar 2019.
Regional Operations posts 1% same-store revenue growth despite 18% EBITDAR decline
Regional Operations revenue was $883 million versus $957 million, down 8%. Adjusting for dispositions, same-store revenue rose 1% from $873 million. MGM Northfield Park was excluded from same-store figures for periods before its April 21, 2026 disposition.
Segment Adjusted EBITDAR fell 18% to $243 million from $296 million. Same-store Segment Adjusted EBITDAR declined 7% from $260 million.
MGM China books record revenue and 17.1% market share
MGM China revenue rose 5% to $1.1 billion, a quarterly record, alongside a record market share of 17.1%. Segment Adjusted EBITDAR still fell 7% to $264 million from $284 million. Intercompany branding license fee expense rose $22 million year over year. It reached $41 million versus $19 million and eliminates in consolidation.
MGM Digital narrows EBITDAR loss to $4 million from $23 million
MGM Digital revenue rose 6% to $184 million from $174 million. Its Segment Adjusted EBITDAR loss narrowed to $4 million from $23 million. Distributions and branding license fees from the BetMGM North America Venture to MGM Resorts totaled $34 million in the quarter.
CFO ties buybacks to amended voting agreement
CFO Jonathan Halkyard said an amended voting agreement, announced earlier the same day, gives the company a framework to pursue share repurchases. He noted that MGM has repurchased nearly half of its outstanding share count over the past five years. Halkyard named the digital portfolio and MGM Osaka as the main growth drivers. Hornbuckle also cited MGM Osaka as the company's growth pipeline.
MGM held its earnings call at 5:00 p.m. Eastern Time on the day of the release. A replay is available through November 4, 2026.