MGM Resorts International, through its various divisions, manages and possesses casino, lodging, and entertainment complexes across the United States and Macau. The company's operations are segmented into three main areas: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its resort properties offer a comprehensive suite of amenities including gaming facilities, accommodation, convention spaces, dining options, entertainment venues, retail outlets, and more. Beyond traditional slots and table games, its casino activities also encompass online sports wagering and iGaming through its BetMGM platform. As of February 17, 2021, its extensive portfolio comprised 29 distinct hotel and gaming destinations. Notable assets include its properties on the Las Vegas Strip and the Fallen Oak golf course. The company caters to a diverse clientele, including high-stakes gamblers, vacationers, wholesale travel groups, business travelers, and organizational clients such as conventions, trade groups, and small conferences. Originally known as MGM MIRAGE, the firm rebranded to MGM Resorts International in June 2010. Established in 1986, MGM Resorts International is headquartered in Las Vegas, Nevada.
Q3 earnings miss with weak Las Vegas/Regional EBITDA and the collapse of the People Inc. buyout are near-term negatives, partially offset by a supportive amended voting agreement enabling buybacks and a favorable October rebound.
MGM reported Q3 2026 consolidated revenue of $4.2B (-1% YoY), net loss of $17M, and Adjusted EPS of $(0.11) vs $0.24 prior year. Las Vegas Strip EBITDAR fell 12% and Regional EBITDAR fell 18%, signaling margin pressure; management noted lower room rates but a favorable October rebound. The miss is likely to weigh on near-term sentiment.
MGM Resorts Press ReleaseCEO Hornbuckle confirmed on the Q3 call that People Inc. and the special committee agreed on a price but People could not assemble a syndicate and withdrew its offer. Removal of the takeover premium is a negative catalyst; MGM stock fell 2.6% to $27.26.
CDC GamingMGM amended its Voting Agreement with People Inc. and Barry Diller, capping their ownership at 29.9% and requiring them to vote with the Board on change-of-control transactions. The framework gives the Board a clear path to pursue share repurchases, a potential positive for shareholder value.
MGM Resorts Press Release