MGM Resorts posts record first-quarter revenue as profit slips on weaker margins.
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MGM Resorts posts record first-quarter revenue as profit slips on weaker margins. MGM Resorts International reported first-quarter 2026 consolidated net revenue of $4.5 billion, up 4% from the prior-year quarter, supported by higher revenue from MGM China, MGM Digital, and growth at the BetMGM North America Venture, even as profitability declined across several operating segments. Net income attributable to MGM Resorts was $125 million for the quarter ended March 31, compared with $149 million a year earlier. Diluted earnings per share were $0.48, down from $0.51, while adjusted diluted earnings per share were $0.49, compared with $0.69 in the first quarter of 2025. Consolidated Adjusted EBITDA fell to $580 million from $637 million. Revenue rose to $4.45 billion from $4.28 billion, above analyst estimates of $4.37 billion, according to FactSet. Adjusted earnings of $0.49 per share were below analysts' expectations of $0.50 per share. MGM China recorded net revenue of $1.1 billion, up 9% from $1.0 billion a year earlier, while Segment Adjusted EBITDAR declined 4% to $273 million from $286 million. Casino revenue rose 9% to $977 million. MGM Digital, which includes LeoVegas and other consolidated subsidiaries offering interactive gaming and excludes the BetMGM North America Venture, reported net revenue of $183 million, up 43% from $128 million. Its Segment Adjusted...
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