MGM Resorts Reports Q2 2026 Revenue of $4.5 Billion as Las Vegas Strip Powers Record Quarter

MGM Resorts International reported second-quarter 2026 revenue of $4.5 billion on Wednesday, up 1% year-over-year, as record performance on the Las Vegas Strip and continued growth in its digital business offset softness in regional gaming markets and flat results from Macau. Net income attributable to MGM Resorts jumped to $292 million, compared with $49 million in the same quarter last year, while consolidated Adjusted EBITDA came in at $610 million, down from $648 million a year earlier.

The results mark the second consecutive quarter of year-over-year revenue growth for MGM’s Las Vegas Strip resorts, alongside what the company called all-time best same-store quarterly revenue for its regional properties. MGM Digital, which includes LeoVegas and other online gaming subsidiaries but excludes the BetMGM joint venture, posted revenue growth of 20% year-over-year.

Las Vegas Carries the Quarter

MGM’s Las Vegas Strip resorts generated $2.2 billion in revenue during the quarter, up 3% from $2.1 billion a year earlier, with Segment Adjusted EBITDAR rising 3% to $735 million. Bill Hornbuckle, President and CEO of MGM Resorts International, credited the strength to a diversified portfolio and pointed to the company’s continued investment in future growth, including MGM Osaka, the massive integrated resort project still on track for a 2030 opening.

Company executives tied the Strip’s momentum to a healthy base of group and convention business, along with heavy foot traffic tied to major events, including concerts and a deep Stanley Cup playoff run by the Vegas Golden Knights. A renovated room inventory at MGM Grand also contributed to the segment’s EBITDA gains, according to the company’s earnings call.

Regional and International Markets Lag

Away from the Strip, the picture was more mixed. MGM’s regional operations, which include properties in markets like Detroit and Atlantic City, posted headline revenue of $924 million, down 4% year-over-year, though the decline was largely tied to divested properties. On a same-store basis, regional revenue actually rose 3% to $904 million, even as Segment Adjusted EBITDAR in the segment fell 9% to $280 million amid competitive pressure and reinvestment costs.

MGM China, meanwhile, posted revenue of roughly $1.1 billion, essentially flat compared to the prior-year quarter, while Segment Adjusted EBITDAR there dropped 15% to $257 million, partly due to a higher intercompany branding license fee. MGM Digital’s 20% revenue growth came with a wider Segment Adjusted EBITDAR loss of $31 million, compared to a $26 million loss in the same period last year, as the company continues to scale its online operations. Bettors tracking sportsbook promotions across MGM’s ecosystem can find current offers in the BetMGM Promo Code guide.

What Comes Next

Total quarterly revenue of $4.5 billion beat Wall Street’s average estimate, and diluted earnings per share came in at $1.11, up sharply from $0.18 in the prior-year quarter. Shares of MGM Resorts closed at $45.83 on the Nasdaq, down 0.8% on the day of the announcement, as investors weighed the record Las Vegas and regional same-store results against continued softness in Macau and the widening losses in the company’s digital segment.

With MGM Osaka still years away from opening and digital growth remaining a work in progress, the company’s near-term outlook continues to hinge heavily on Las Vegas convention bookings and event-driven tourism holding up through the back half of the year.