MGM Resorts’ Q1 Report Highlights Revenue Growth on the Las Vegas Strip

(AsiaGameHub) –   Leading casino and hospitality firm MGM Resorts International has released its financial report for the first quarter of 2026, noting steady revenues even as adjusted EBITDA saw a minor decline.

Company Sees Net Revenue Gains Amid EBITDA Challenges

According to the report, the company recorded consolidated net revenues of $4.5 billion, a 4% increase year-over-year. Net income attributable to MGM Resorts stood at $125 million, down from $149 million in the prior year period.

The company’s adjusted EBITDA reached $580 million, a drop from Q1 2025’s $637 million.

Meanwhile, diluted earnings per share fell slightly to $0.48, while adjusted diluted earnings per share came in at $0.49—compared to $0.69 in the year-ago quarter.

MGM Resorts’ Las Vegas Strip Resorts segment reported net revenues of $2.2 billion for Q1 2025, marking a small uptick. However, the segment’s adjusted EBITDAR decreased by 8% to $749 million.

Conversely, the Regional Operations segment generated net revenues of $918 million, a 2% year-over-year rise. The segment’s adjusted EBITDAR was $259 million, down 7% from the previous year.

MGM China’s results followed a similar pattern: net revenues increased by 9% to $1.1 billion, while segment adjusted EBITDAR fell 4% to $273 million. MGM noted that intercompany branding license fee expenses rose by $23 million.

Finally, MGM Digital posted net revenues of $183 million, a 43% year-on-year jump. The segment’s adjusted EBITDAR loss narrowed to $26 million (from $34 million in Q1 2025).

MGM Remains Positive About the Remainder of 2026

Bill Hornbuckle, president and CEO of MGM Resorts International, expressed satisfaction with the stable results and praised the top-line growth in Las Vegas—growth that followed a period of mixed outcomes. Hornbuckle was particularly enthusiastic about the rest of the year, expecting further improvements in the company’s performance.

Looking into the second quarter and beyond, we are seeing signs of strength driven by solid convention bookings, our newly launched all-inclusive promotion, and our recently refreshed rooms at the MGM Grand Las Vegas.

Bill Hornbuckle, CEO & president, MGM Resorts International

Jonathan Halkyard, MGM Resorts International’s chief financial officer, also highlighted the recent sale of MGM Northfield Park’s operations for $546 million as a major achievement. He stated that the sale provided his team with funding to reinvest in priority areas.