GET DAILY SIGNALSMGM Resorts (MGM) Q3 2026 Earnings: Las Vegas Softness Meets China Momentum
Key Takeaways
- MGM Resorts reported third quarter 2026 net revenue of $4.21 billion, down 1% from $4.25 billion a year earlier and modestly below the roughly $4.25 billion consensus estimate.
- Adjusted earnings per share (EPS, or profit divided by shares outstanding) came in at a loss of $0.11, compared with a profit of $0.24 in the prior-year quarter and below analyst expectations of about $0.11.
- An 8% decline in Las Vegas Strip average daily rates (ADR, the average room price) to $218 pressured Strip segment Adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization, and rent), which fell 12% to $531 million.
- MGM China was a bright spot, growing revenue 5% to $1.14 billion and reaching a record quarterly market share of 17.1%.
- MGM Digital narrowed its Adjusted EBITDAR loss to $4 million from $23 million a year ago, moving closer to breakeven.
- Net loss attributable to MGM Resorts narrowed to $17.1 million, or $0.07 per share, from $285.3 million, or $1.05 per share, in the prior-year quarter.
- For more information on MGM's Major News, Today's Price Move, Price Targets, and Forecast, explore these pages.
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Earnings Context and Why It Matters
MGM Resorts' third quarter 2026 report arrives at a delicate moment for the Las Vegas Strip, the company's largest profit engine. Soft room pricing and uneven visitation have weighed on the segment, even as the company's Macau and digital businesses continue to gain traction. In my view, investors are watching closely to see whether near-term Las Vegas weakness is a temporary dip or a sign of broader demand cooling. The results also test the company's diversified model, with MGM China's record market share and MGM Digital's narrowing losses offering potential offsets. With the stock trading near 52-week lows ahead of the release, this quarter's figures and management's tone on forward demand carry significant weight for sentiment. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
MGM Resorts reported consolidated net revenue of $4.21 billion for the third quarter ended September 30, 2026, a 1% decrease from $4.25 billion a year earlier. Net loss attributable to MGM Resorts narrowed to $17.1 million, or $0.07 per share, from $285.3 million, or $1.05 per share, a year ago. Adjusted EPS was a loss of $0.11, down from a profit of $0.24 in the prior-year quarter. Consolidated Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) declined to $403 million from $506 million.
By segment, Las Vegas Strip Resorts revenue fell 2% to roughly $2.0 billion, with Strip Adjusted EBITDAR down 12% to $531 million. Regional Operations revenue declined 8% to $883 million on a reported basis but rose 1% on a same-store basis. MGM China revenue increased 5% to $1.14 billion, and MGM Digital revenue rose 6% to $184 million.
Market Reaction and Investor Sentiment
The market entered this earnings event with subdued expectations, as analysts had revised third quarter EPS estimates sharply lower in the weeks leading up to the release amid concerns about Las Vegas Strip pricing. The reported adjusted loss of $0.11 per share missed the consensus figure of roughly $0.11, while revenue came in slightly below the approximately $4.25 billion estimate. The stock has been under significant pressure, having declined more than 38% over the prior three months and trading near 52-week lows. Post-earnings, investors are weighing the continued softness in Las Vegas room rates against management's comments that October Strip performance has rebounded favorably.
Forward Outlook and Key Factors to Monitor
Following this quarter, investors should focus on several themes. The most important is Las Vegas Strip room pricing. The 8% decline in ADR drove much of the margin compression this quarter, so any sustained recovery in rates, occupancy, or convention and group business will be central to restoring segment profitability.
Macau remains a key growth lever. MGM China's record 17.1% market share and 5% revenue growth show resilience, but investors will watch whether that momentum holds and how intercompany branding fees and operating costs trend.
On the digital side, MGM Digital's shrinking loss signals progress toward profitability, and the trajectory of the BetMGM North America venture remains worth monitoring.
Finally, capital allocation and balance sheet health are in focus. The company ended the quarter with about $2.4 billion in cash and reduced long-term debt to $5.7 billion, giving it flexibility to fund growth projects such as MGM Osaka while continuing shareholder returns. No formal guidance was provided, leaving investors to assess management's near-term commentary against one quarter of hard data.
Leveraging Tickeron’s AI Screener for My Analysis
In my research process, I frequently turn to Tickeron’s AI Screener to filter stocks by technical patterns, fundamentals, and industry trends. It allows me to quickly compare names like MGM against peers in gaming and hospitality, surfacing ideas based on volatility, momentum, and performance metrics. This structured approach helps me stay efficient when monitoring shifts across the sector without manual effort.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
MGM's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for MGM turned positive on October 14, 2026. Looking at past instances where MGM's MACD turned positive, the stock continued to rise in 33 of 46 cases over the following month. The odds of a continued upward trend are 72%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where MGM's RSI Indicator exited the oversold zone, 21 of 30 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 70%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 38 of 57 cases where MGM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 67%.
The Momentum Indicator moved above the 0 level on October 30, 2026. You may want to consider a long position or call options on MGM as a result. In 62 of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 69%.
Following a +9.86% 3-day Advance, the price is estimated to grow further. Considering data from situations where MGM advanced for three days, in 189 of 296 cases, the price rose further within the following month. The odds of a continued upward trend are 64%.
MGM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The 50-day moving average for MGM moved below the 200-day moving average on October 09, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MGM declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 69%.
The Aroon Indicator for MGM entered a downward trend on October 30, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Seasonality Score of 3 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 41 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.999) is normal, around the industry mean (13.064). P/E Ratio (17.833) is within average values for comparable stocks, (52.912). Projected Growth (PEG Ratio) (0.403) is also within normal values, averaging (0.784). Dividend Yield (0.000) settles around the average of (0.023) among similar stocks. P/S Ratio (0.573) is also within normal values, averaging (1.049).
The Tickeron SMR rating for this company is 55 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 63 (best 1 - 100 worst), indicating steady price growth. MGM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 97 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MGM’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 92, placing this stock worse than average.
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General Information
a holding company that is primary engaged in the ownership and operation of casino resorts
Industry HotelsResortsCruiselines