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MGM Resorts International has reported steady consolidated revenue performance for the third quarter of 2026, supported by record results in Macau, improving digital profitability and continued strength across its regional casino operations.
The company’s Las Vegas Strip resorts generated revenues of $1.95bn, down two per cent from $1.99bn in the corresponding quarter of 2025. Segment adjusted EBITDAR declined 12 per cent to $531m, compared with $601m a year earlier, while margins contracted from 30.3 per cent to 27.2 per cent.
Regional operations recorded revenues of $883m, down eight per cent from $957m, although the comparison was affected by the sale of Northfield Park. On a same-store basis, revenues increased one per cent, with MGM reporting an all-time record for same-store slot win and record third-quarter same-store casino revenue.
MGM China delivered record quarterly revenues of $1.14bn, an increase of five per cent from $1.09bn in the prior-year period. The business achieved a record quarterly market share of 17.1 per cent, outperforming the broader Macau gaming market on both sequential and year-on-year measures. Segment adjusted EBITDAR was $264m, compared with $284m in the third quarter of 2025.
The company’s digital businesses continued to improve their financial performance. MGM Digital, which excludes the BetMGM North America joint venture, reported revenues of $184m, up six per cent year-on-year. Its adjusted EBITDAR loss narrowed substantially to $4m from $23m, representing a $19m improvement.
Meanwhile, the BetMGM North America joint venture generated net revenue of $710m during the quarter, an increase of seven per cent, with adjusted EBITDA more than doubling to $86m, up 112 per cent year-on-year.
BetMGM’s iGaming operations contributed $483m in quarterly revenue, an increase of six per cent, while online sports betting revenues rose seven per cent to $216m. Average monthly active players declined three per cent to 878,000.
The joint venture reiterated its full-year 2026 guidance of $2.9bn to $3.1bn in net revenue and adjusted EBITDA of between $300m and $350m. During the quarter, BetMGM distributed $50m to its parent companies, alongside $18m in branding and licensing fees.
International expansion remains a central component of MGM’s development strategy, with construction of its MGM Osaka integrated resort progressing towards a planned opening in 2030. Approximately 70 per cent of the project’s foundation piles have been completed, with overall construction reaching 11 per cent. Concrete slab and structural steel work are progressing on schedule.
The company outlined the anticipated scale of the Japanese development, which is planned to feature 470 table games and 6,400 gaming machines, providing approximately 9,220 gaming positions. MGM projects that the resort could attract 19.9 million visitors annually, comprising 10.8 million local visitors, 6.3 million international tourists and 2.3 million domestic tourists.
MGM also highlighted its investment in artificial intelligence and automation, including AI-enabled guest services, personalised marketing, workforce scheduling, robotic cleaning operations and automated distribution systems. The company said its strategy is focused on improving guest experiences, operational efficiency and the speed of technology development.
Looking ahead, MGM expects domestic capital expenditure of between $725m and $775m in 2026, including approximately $600m in maintenance spending, alongside a planned investment of approximately JPY43.3bn in MGM Osaka.
The group also emphasised its ongoing shareholder returns programme, having repurchased more than 49 per cent of its shares since the beginning of 2021.
