MGM Resorts Q3 Adjusted EBITDA Falls to $403M as Strip Margins Slip
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.