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MGM Q3 Misses; China strength offsets Las Vegas softness, near-term downside risk

Oct 28, 2026, 5:36 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Miss vs consensus combined with segmental headwinds implies near-term downside pressure; but China strength provides offset, limiting downside magnitude.

AI summary

What happened, with direct paths to the underlying reporting

MGM Resorts delivered a Q3 revenue miss as Las Vegas room-rate weakness weighed on results, though MGM China posted record revenue and market share. BetMGM North America contributed $34 million in fees, signaling monetization scope in digital/gaming. The stock traded lower after hours and could test support near recent multi-quarter lows absent clearer Las Vegas stabilization.

MGM Q3 revenue $4.212B, -1% YoY; miss vs $4.226B consensus.
Las Vegas revenue $2.0B, -2%YoY amid lower room rates.
MGM China revenue $1.1B, +5% with 17.1% market share (record).
Adjusted loss per share -$0.11 vs consensus +$0.11; BetMGM NA fees $34M.
After-hours stock down 1.2% to $26.95; risk of new 52-week low.

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