MGM Resorts International reported a 1% year-over-year revenue growth in the second quarter of 2026 and improved profits for Las Vegas Strip properties for the second consecutive quarter.
Key Takeaways
- MGM Resorts experienced 20% year-over-year digital growth.
- Revenue from Las Vegas properties increased for the second straight quarter.
- MGM will invest heavily in digital and its Japan project in 2026.
Wednesday’s announced growth comes at a time when MGM is being pursued for acquisition by billionaire Barry Diller’s People Inc. Diller offered to purchase the resort company for $48.30 per share, an equivalent of $18 billion, in June.
“MGM Resorts once again demonstrated the strength of our diversified portfolio with record second quarter consolidated revenue driven by a second consecutive quarter of year-over-year revenue growth for Las Vegas Strip Resorts, all-time best Regional Operations same-store quarterly revenue, and 20% year-over-year revenue growth at MGM Digital,” MGM Resorts president and CEO Bill Hornbuckle said.
MGM executives declined to answer any questions on the possible takeover during Wednesday’s earnings call, but Hornbuckle did say the board of directors has formed a committee of “special directors.”
MGM Resorts reported a consolidated business revenue of $4.5 billion, with net income of $292 million, a nearly 500% year-over-year increase, during the quarter ending June 30. Adjusted EBITDA of $610 million was down from the $648 million reported in the previous Q2.
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Vegas increases
MGM’s Las Vegas properties and casinos generated $2.2 billion in Q2, a slight 3% year-over-year increase, while the segment’s adjusted EBITDA also climbed 3% to $735 million.
MGM CFO and treasurer Jonathan Halkyard said adjusted EBITDA is up $25 million this year on the Strip thanks to “recovery at MGM Grand” through remodeled rooms. Hornbuckle pointed out “solid momentum” from MGM’s all-inclusive packages rolled out in Vegas earlier this year.
“We will continue to allocate growth capital to drive significant returns on investment with meaningful opportunities at our Las Vegas luxury offerings,” Halkyard said.
Driving digital
Revenue from MGM’s digital segment grew from $164 million in Q2 2025 to $196 million in the latest quarter. This included LeoVegas, MGM’s European iGaming brand, and its operations in Brazil.
North American joint venture BetMGM generated $23.1 million in revenue for MGM Resorts during Q2, a 6% year-over-year increase.
BetMGM, which is 50-50 owned by MGM and Entain plc, announced earlier this week that the U.S. sports betting and online casino operator’s Q2 net revenue rose 3% year over year to $711 million. Sports betting remained flat, while iGaming profits spiked 8%, and adjusted EBITDA was $74 million.
“BetMGM has started 2026 well and continues to execute with discipline,” BetMGM CEO Adam Greenblatt said. “Our underlying player fundamentals remain healthy, and we are generating positive cash flow and Adjusted EBITDA, enabling us to continue to invest in our highest return opportunities.”
Other highlights
MGM’s regional segment produced $924 million in revenue, a 4% decrease. Adjusted EBITDA dipped 9% year over year.
Hornbuckle said its China segment “continued to outperform the market,” while the $1.1 billion in Q2 revenue was relatively flat compared to the same quarter in 2025. MGM China’s adjusted EBITDA of $257 million was down 15%.
“While the World Cup temporarily impacted June volumes in Macau, this was a transitory event rather than a secular shift,” Hornbuckle said.
MGM Resorts executives see continued growth so far in the third quarter and are focused on driving profits in the digital segment and an investment of between $125 million and $175 million in its $10-billion Japan project, MGM Osaka.
“We like what we see in the third quarter,” Hornbuckle said. “We got some work to do in the fourth quarter.”
