Očekává se, že MGM Resorts ve 3. čtvrtletí vykáže EPS ve výši 13 centů, což by znamenalo meziroční pokles o 45,8 %, při tržbách ve výši téměř 4,25 miliardy USD.
Key Takeaways MGM Resorts is set to report Q3 earnings on Oct. 28, with EPS expected to fall 45.8% to 13 cents.Strong group bookings, premium gaming and entertainment events are likely to boost MGM's Las Vegas results.MGM's digital revenues are projected to rise to $207M, while regional revenues may decline to $870M.
MGM Resorts International (MGM - Free Report) is scheduled to report third-quarter 2026 results on Oct. 28, after the closing bell.
MGM’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average surprise being 24%.
Trend in Estimate Revision of MGMThe Zacks Consensus Estimate for third-quarter earnings per share (EPS) is pegged at 13 cents, indicating a deterioration of 45.8% from 24 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $4.25 billion, suggesting growth of 0.1% from the prior-year quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors Likely to Shape MGM Resorts’ Quarterly ResultsMGM Resorts' third-quarter performance is likely to have benefited from continued momentum across its Las Vegas Strip Resorts, supported by group and convention bookings, premium gaming demand and an expanded entertainment calendar. Management highlighted a favorable group booking environment entering the quarter, alongside a larger calendar of sports and entertainment events compared with the year-ago period. These factors are expected to have supported casino activity, hotel demand and non-gaming spending.
The company's Las Vegas Strip Resorts are likely to have benefited from the recovery at MGM Grand, supported by renovated room inventory and favorable gaming trends. Continued demand for premium gaming experiences and investments in luxury offerings are expected to have aided performance. Management also highlighted encouraging trends in high-end customer spending, which may have supported gaming revenues and overall profitability in the quarter under review. The Zacks Consensus Estimate for third-quarter Las Vegas Strip revenues is pegged at $1.99 billion, compared with $1.98 billion reported in the prior-year quarter. Segment-adjusted property EBITDA is projected at $582 million, down from $601 million reported in the year-ago quarter.
MGM China's third-quarter performance is likely to have benefited from a recovery in gaming volumes following the temporary disruption caused by the World Cup in June. Continued investments in premium gaming facilities, renovated suites and luxury hospitality offerings are expected to have supported customer engagement and gaming activity. The recently upgraded suites at MGM Cotai and expanded premium gaming areas may also have strengthened the company's competitive position in Macao. However, higher intercompany branding fees may have weighed on segment profitability. MGM China’s adjusted property EBITDA is projected at $254 million, down from $284 million in the prior-year quarter.
Digital operations are likely to have supported revenue growth, driven by the launch of MGM Digital's proprietary sportsbook in Sweden and growing traction for BetMGM-branded offerings internationally. Encouraging trends in first-time deposits, active players and net gaming revenues in Brazil may also have aided performance. The consensus estimate for digital revenues is pegged at $207 million, up from $174 million a year ago.
However, softness in lower-end leisure demand may have weighed on Las Vegas hotel performance. Management acknowledged continued demand challenges at Luxor and Excalibur, despite some stabilization from value-oriented packages. Subdued international visitation, cautious spending among value-conscious consumers and seasonal fluctuations in leisure demand may also have constrained hotel revenues and gaming activity. Regional Operations' performance is likely to have reflected continued benefits from targeted capital investments and premium gaming upgrades. However, the absence of contributions from Northfield Park following its divestiture may have weighed on reported revenues and profitability. The consensus estimate for regional revenues is pegged at $870 million, down from $957 million reported in the prior-year quarter, while adjusted property EBITDA is expected to decline to $253 million from $296 million.
What Our Model Says About MGM StockOur proven model does not conclusively predict an earnings beat for MGM Resorts this time around. The company does not have the right combination of the two key ingredients, a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), to increase the odds of an earnings beat.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of -22.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #5 (Strong Sell).
Stocks Poised to Beat on EarningsHere are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Cinemark Holdings, Inc. (CNK - Free Report) currently has an Earnings ESP of +4.49% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cinemark’s earnings for the to-be-reported quarter are expected to increase 127.5%. CNK reported better-than-expected earnings in the trailing three out of four quarters and missed once, the average miss being negative 11.4%.
Rush Street Interactive, Inc. (RSI - Free Report) currently has an Earnings ESP of +2.44% and a Zacks Rank of 2.
RSI’s earnings for the to-be-reported quarter are expected to increase 55.6%. Rush Street Interactive reported better-than-expected earnings in the trailing two out of four quarters, missed estimates once and reported in line once, with the average surprise being 6.3%.
Marriott Vacations Worldwide Corporation (VAC - Free Report) has an Earnings ESP of +10.02% and a Zacks Rank of 3 at present.
Marriott Vacations is expected to register a 45% increase in earnings for the to-be-reported quarter. VAC reported better-than-expected earnings in the trailing three out of four quarters and missed once, with the average surprise being 1.3%.
NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that it is investigating Barry Diller’s bid to buy MGM Resorts International (NYSE:MGM). MGM is incorporated in Delaware.
Barry Diller is a member of MGM’s board of directors. People, Inc. (“People,” f/k/a/ IAC, Inc.), a company that Diller founded and controls, is MGM’s largest single stockholder. On June 1, 2026, People made an unsolicited bid to buy the remaining MGM stock for $48.30 per share.
If you are a current shareholder of MGM, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/mgm-resorts-investigation.
Key Details of the MGM ($MGM) Investigation:
Investigation Overview: Breaches of Fiduciary Duty in connection with Barry Diller’s offer to acquire the remaining stock of MGM for $48.30 per shareAction: Contact BFA Law to discuss your rights Why is the MGM Transaction being Investigated?
As a director, Diller owes fiduciary duties to MGM and its stockholders. People also recently entered a governance agreement with MGM that gave People the right to designate two MGM directors going forward. Because Diller “stands on both sides” of the proposed deal, and because other MGM fiduciaries could potentially receive benefits that other stockholders do not receive, these facts create a create conflicts of interest under Delaware law. If MGM and Diller reach an agreement, they must comply with Delaware’s strict requirements for “cleansing” these conflicts and ensuring the deal is fair to MGM’s stockholders.
In a news release on June 1, MGM stated that the board of directors “will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and all of its shareholders.”
BFA is investigating whether the potential agreement complies with Delaware law.
If you are a current holder of MGM stock, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
SummaryMGM Resorts (MGM) trades at a deep discount after a failed $48.30/share takeover, with shares now near $29 despite stable fundamentals.
MGM's lease-heavy structure, robust buybacks, and diversified assets underpin a fair value estimate of $45/share, with downside risk to $27.
Operating trends have softened, but MGM remains the cheapest among peers on lease-adjusted EBITDAR and free cash flow yield metrics.
Key risks include fixed rent in a weak Strip market, Macau softness, BetMGM underperformance, and capital commitments to Osaka.
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of MGM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
BetMGM ve 3. čtvrtletí zvýšila čisté tržby o 7 % na 710 milionů USD a upravený zisk EBITDA dosáhl 86 milionů USD; celoroční výhled tržeb i upraveného EBITDA potvrdila na spodní hranici stanovených pásem.
BetMGM said its third-quarter performance kept the sports betting and iGaming operator on track to meet its full-year 2026 financial targets, citing a strong summer, solid early-season football engagement and continued emphasis on higher-value customers.
The company, which is backed by Entain LON: ENT and MGM Resorts, reported third-quarter net revenue of $710 million, up 7% from a year earlier, and adjusted EBITDA of $86 million. Management said it continues to expect full-year revenue of $2.9 billion to $3.1 billion and adjusted EBITDA of $300 million to $350 million, with both results expected toward the lower end of those ranges.
BetMGM said it is targeting sustainable profitability through selective customer acquisition, retention efforts and investments in markets and products that offer higher returns. The company reiterated that it sees a path to $500 million in adjusted EBITDA sometime after 2027.
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iGaming Growth Supported by Content and Alberta Launch
iGaming generated $483 million in third-quarter net revenue, an increase of 6% year over year. Net gaming revenue per active player rose 4%, while active players increased 2%.
Management said iGaming accounts for about 70% of BetMGM’s business and remains a key area of focus. The company pointed to its exclusive content strategy, including the U.S. launch of its Game of Thrones franchise, which it called its most successful game launch across its markets. BetMGM also introduced its SideBet Jackpot feature in Michigan and West Virginia and plans to roll it out across all gaming markets by year-end.
In Alberta, BetMGM said customer returns and per-player metrics have been attractive, with several indicators exceeding the performance seen after the Ontario launch. CFO Gary Deutsch said Alberta had a negligible effect on sports revenue in its first quarter of operation but contributed about two percentage points to iGaming growth. About 20% of players acquired during the quarter came from Alberta, he said.
The company also said its Borgata brand relaunch has gained traction. Average daily active users in New Jersey and Pennsylvania, where the refreshed app is available, were up 28% from a February pre-launch benchmark.
Sports Revenue Rises Despite Fewer Active Players
Online sports betting revenue rose 7% year over year to $216 million, while retail sports revenue increased 5% to $11 million. Online sports handle rose 3%, although year-over-year comparisons were affected by the inclusion of the World Cup in July and one fewer weekend of NFL and college football activity in September.
BetMGM said its strategy of prioritizing player value over total player count continued to lift customer metrics. Handle per active player increased 13%, while net gaming revenue per active player rose 18%. Average monthly active users declined 9%, a result management said reflected its deliberate reduction in investment in lower-return online-sports-only markets.
The company cited improvements to sportsbook speed, stability, cash-out functions, bet tracking, customizable bets and rewards features. It said September produced strong reactivations among higher-value customers. In Nevada, where BetMGM operates an omnichannel offering, online sports betting handle increased 8% during the quarter.
Management said competition remains intense, particularly from unregulated and illegal sports betting operators, and expects those conditions to persist at least through mid-2027. BetMGM also discussed prediction-market competitors, saying their marketing activity remains elevated but that its own customer acquisition costs and expected payback periods have improved since the latter stages of the World Cup.
Cash Returns to Parent Companies
BetMGM began paying fees to its parent companies earlier in 2026 for licenses and services. The company recorded $18 million in parent fees during the third quarter and made an additional $50 million cash distribution, resulting in total cash returned to Entain and MGM Resorts of $68 million.
Deutsch said the company’s strong EBITDA flow-through this year has primarily reflected lower marketing costs compared with the prior year. He added that payment-processing efficiencies and other operating improvements also contributed, while data, content and tax costs remain areas where expenses can be difficult to reduce.
BetMGM said it will continue to allocate capital toward profitable customer acquisition and retention, particularly in multi-product markets, iGaming, Nevada and premium online sports customers, as it enters the heart of the NFL season.
About Entain (LON:ENT)Entain plc LSE: ENT is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Akcie společnosti MGM Resorts International v pondělí klesly na 52týdenní minimum 28,80 USD poté, co Barclays snížila cílovou cenu ze 48 USD na 37 USD a ponechala doporučení „equal weight“.
MGM Resorts International (NYSE:MGM – Get Free Report)’s stock price reached a new 52-week low on Monday after Barclays lowered their price target on the stock from $48.00 to $37.00. Barclays currently has an equal weight rating on the stock. MGM Resorts International traded as low as $28.80 and last traded at $28.8440, with a volume of 231,619 shares trading hands. The stock had previously closed at $29.27.
A number of other research firms have also recently commented on MGM. Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. UBS Group dropped their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Susquehanna dropped their price objective on shares of MGM Resorts International from $46.00 to $41.00 and set a “positive” rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Mizuho cut their price objective on shares of MGM Resorts International from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.66.
View Our Latest Report on MGM Resorts International
Hedge Funds Weigh In On MGM Resorts International A number of hedge funds and other institutional investors have recently modified their holdings of MGM. State Street Corp lifted its holdings in MGM Resorts International by 0.8% during the second quarter. State Street Corp now owns 7,047,768 shares of the company’s stock valued at $336,954,000 after purchasing an additional 56,072 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MGM Resorts International by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company’s stock worth $88,050,000 after purchasing an additional 36,649 shares during the period. Montanova Capital LLC boosted its position in MGM Resorts International by 7.7% during the second quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock worth $111,175,000 after purchasing an additional 166,560 shares during the period. Bank of New York Mellon Corp increased its stake in shares of MGM Resorts International by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company’s stock worth $76,426,000 after purchasing an additional 46,268 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of MGM Resorts International by 2.2% in the first quarter. Royal Bank of Canada now owns 1,110,977 shares of the company’s stock worth $41,117,000 after purchasing an additional 23,951 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock. MGM Resorts International Price Performance The firm’s 50 day moving average price is $39.31 and its two-hundred day moving average price is $41.37. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market cap of $7.28 billion, a PE ratio of 17.53, a P/E/G ratio of 1.50 and a beta of 1.35.
MGM Resorts International (NYSE:MGM – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 1.95 earnings per share for the current year.
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MGM Resorts International is a global hospitality and entertainment company that develops, owns and operates destination resorts with casinos, hotels, restaurants, retail, entertainment venues, meeting facilities and other leisure offerings. Its properties operate under brands including MGM Grand, Bellagio, ARIA, Mandalay Bay, The Cosmopolitan of Las Vegas, Park MGM, New York-New York and MGM National Harbor.
The company serves customers in Las Vegas and other U.S. markets, including regional destinations in Maryland, Massachusetts, Michigan, Mississippi, New Jersey, New York and Ohio.
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Bleichmar Fonti & Auld vyšetřuje nabídku Barryho Dillera na odkup zbývajících akcií společnosti MGM Resorts za 48,30 USD na akcii kvůli možnému střetu zájmů.
NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that it is investigating Barry Diller’s bid to buy MGM Resorts International (NYSE:MGM). MGM is incorporated in Delaware.
Barry Diller is a member of MGM’s board of directors. People, Inc. (“People,” f/k/a/ IAC, Inc.), a company that Diller founded and controls, is MGM’s largest single stockholder. On June 1, 2026, People made an unsolicited bid to buy the remaining MGM stock for $48.30 per share.
If you are a current shareholder of MGM, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/mgm-resorts-investigation.
Key Details of the MGM ($MGM) Investigation:
Investigation Overview: Breaches of Fiduciary Duty in connection with Barry Diller’s offer to acquire the remaining stock of MGM for $48.30 per shareAction: Contact BFA Law to discuss your rights Why is the MGM Transaction being Investigated?
As a director, Diller owes fiduciary duties to MGM and its stockholders. People also recently entered a governance agreement with MGM that gave People the right to designate two MGM directors going forward. Because Diller “stands on both sides” of the proposed deal, and because other MGM fiduciaries could potentially receive benefits that other stockholders do not receive, these facts create a create conflicts of interest under Delaware law. If MGM and Diller reach an agreement, they must comply with Delaware’s strict requirements for “cleansing” these conflicts and ensuring the deal is fair to MGM’s stockholders.
In a news release on June 1, MGM stated that the board of directors “will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and all of its shareholders.”
BFA is investigating whether the potential agreement complies with Delaware law.
If you are a current holder of MGM stock, you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
MGM Resorts nevylučuje převzetí People Inc., která dříve stáhla nabídku na koupi zbytku MGM za 48,30 USD za akcii. Jednání přichází v době, kdy se kasino sektor oživuje.
MGM Resorts International CEO Bill Hornbuckle is leaving open the possibility that the casino operator could acquire Barry Diller's People Inc., a striking reversal after the media company abandoned its own effort to take over MGM.
Asked at the Global Gaming Expo this week whether MGM was considering buying People Inc., Hornbuckle said MGM would continue pursuing what is in the best interest of shareholders and "trying to unlock the value of a company that we think is grossly undervalued."
Hornbuckle pointed to MGM's collection of assets, including BetMGM, its casino operations in Macao, its resort under construction in Japan and its properties in Las Vegas.
The Wall Street Journal reported last week that MGM was exploring an offer for People Inc. The publishing and holding company, formerly known as IAC, owns roughly 27% of MGM and is its largest shareholder.
People Inc. last week withdrew its $48.30-per-share proposal to buy the rest of MGM. Diller said the "mix" of factors required to complete the transaction had not come together as the company had hoped, but said People Inc. remained interested in a possible strategic transaction with MGM.
Hornbuckle called Diller and People Inc. "an amazing shareholder" and said Diller remains bullish on Las Vegas.
"There's nothing like it replicated anywhere in the world," Hornbuckle said. "It is the one place, particularly in his world, where AI won't disintermediate it."
Unlike some of People Inc.'s publishing and digital businesses, Hornbuckle said, Las Vegas is built around physical experiences that artificial intelligence cannot replace.
"People are coming here to enjoy things physically, and that's not going to change," he said.
MGM shares were trading near $32 ahead of the G2E discussion, well below the $48.30 price People Inc. had offered in June.
Caesars prepares to go privateThe talks between MGM and People Inc. come as one of MGM's biggest Las Vegas rivals prepares for a take-private transaction.
Caesars Entertainment shareholders last week approved the company's $17.6 billion sale, including assumed debt, to Fertitta Entertainment. The deal would combine Caesars' casino and digital operations with Tilman Fertitta's Golden Nugget casinos, Landry's restaurant group and other hospitality assets.
Caesars CEO Tom Reeg said operating as a private company would allow management to take a longer view.
"We're forced as public companies to think in 90-day increments far more than is healthy for any business," Reeg said. "That's not how you run a business."
He said the combination with a hospitality company that has more than 400 outlets across the country creates an opportunity to connect the businesses into a broader customer ecosystem.
The transaction is undergoing an extended antitrust review by the Federal Trade Commission, which recently issued a second request for information.
Reeg called the request normal for a transaction of this size and said the markets under scrutiny are not particularly material to the combined company.
"You shouldn't be surprised if there's a property or two that ultimately gets divested," Reeg said. "But I wouldn't expect them to be needle movers from a news perspective."
Reeg said the recent interest in the casino space from Diller, Fertitta and activist investor Carl Icahn indicates that sophisticated investors see long-term value in Las Vegas despite weaker visitation and concerns about prices.
"You have some of the smartest people in the world saying, 'How do I get in?'" Reeg said.
Asked whether those investors were buying because Las Vegas is a bargain, he said, "I think it's both."
Wynn's UAE betBeyond Las Vegas, Wynn Resorts CEO Craig Billings said construction of Wynn Al Marjan Island in the United Arab Emirates remains on track despite regional conflict that has contributed to a roughly $600 million increase in the project's budget.
Billings said approximately half of that increase is related to the conflict, but the resort has missed only one day of construction.
Most of the disruption came during a two- to three-month period when supply chains were being rerouted through different ports, he said. Shipping costs also surged because insurers were unwilling to cover some routes.
"From our perspective, it's super straightforward: Get open, start earning EBITDA," Billings said. "You're going to pay for that uptick in cost very, very quickly."
Billings said Wynn's property and construction insurance costs at the site have not increased, citing the security provided by authorities in the UAE. The resort is scheduled to open in September 2027.
The property will be the first integrated resort with casino gaming in the UAE and represents Wynn's biggest expansion beyond its existing markets in Las Vegas, Boston and Macao.
Macao's premium customerBillings also played down the importance of broad visitation figures in Macao, which saw record visitor traffic in August.
Wynn's results depend less on how many people enter Macao than on which customers arrive, he said. The company targets the premium end of the market.
Billings described Macao as the largest gaming market in the world, generating roughly five times the gaming revenue of the Las Vegas Strip with about 30% as many hotel rooms.
"Whether Macao's up 2%, down 3%, you have to look through any given cycle," he said. "We remain very, very focused on the mid- and long-term in Macao."
Hornbuckle said MGM is the smallest of the major operators in the market and is similarly focused on higher-value customers. He said 94% of MGM's occupied rooms in Macao are filled by known casino customers, and the company is converting more standard rooms into suites to meet demand.
And while luxury retail sales have been soft in China, Billings said that is not necessarily a warning sign for casino spending.
Chinese consumers are changing their brand preferences, he said, weakening the historical relationship between luxury retail sales and gaming revenue.
MGM's Japan resort emerges from the groundHornbuckle said MGM's integrated resort in Osaka, Japan, is on time and on budget after more than a year of site preparation on the man-made island of Yumeshima.
The development will cover roughly 97 acres and 18 million square feet. Hornbuckle said its casino floor will be four times the size of the casino at MGM's Bellagio.
"We're finally coming out of the dirt," he said. "You can see the structures. Steel is being laid."
Hornbuckle said that if Singapore's integrated resorts provide a reasonable comparison, MGM Osaka could quickly become a $2 billion cash-flow business.
Japan has so far only approved the Osaka development, but Hornbuckle said the potential for competition in or around Tokyo wouldn't pose a threat, given Japan's population and the time it would take a rival to propose and build a new project.
"If we don't have a five-year head start on this — and then some — I'd be absolutely shocked," he said.
MGM Resorts International (MGM.N) is discussing making a bid to purchase Barry Diller's People Inc (PPLI.O), the Wall Street Journal reported on Thursday, a day after People Inc withdrew its proposal to buy MGM Resorts.
New York-based People's shares rose 9% after the bell.
If it decides to proceed, MGM could make its proposal in the coming days, the report added, citing people familiar with the matter.
The move would mark an unusual attempt by MGM Resorts to acquire its longtime largest shareholder, whose approximately 27% stake is valued at nearly the same amount as the media company's own market capitalization, the WSJ report said.
Diller began building a stake in MGM in 2020, when the casino operator's shares were battered by closures and travel restrictions due to the COVID-19 pandemic.
People, formerly IAC, is a digital media and holding company that owns brands including People, Food & Wine, Southern Living and the Daily Beast.
The company has spent recent years streamlining its portfolio around its core publishing operations and its investment in MGM Resorts, where it built a sizeable stake after Diller identified the casino operator as undervalued and as an opportunity to diversify beyond media.
Last month, People's second-quarter results pointed to improving profitability at its publishing business, despite pressure on web traffic from AI-driven changes in search, though investors remained largely focused on the value of its MGM stake.
MGM did not immediately respond to a Reuters request for comment. People declined to comment.
People Incorporated stáhla nabídku na odkup všech veřejně obchodovaných akcií MGM Resorts International. Uvedla, že nadále drží 66,8 milionu akcií, tedy asi 27 % společnosti.
, /PRNewswire/ -- Today People Incorporated (NASDAQ: PPLI) announced it has withdrawn its proposal to purchase all public shares of MGM Resorts International.
People Incorporated Chairman and Senior Executive Barry Diller said, "There are lots of ingredients that go into a proposal of this kind on its way to completion. We didn't feel the mix was coming together in the way we had hoped and have decided not to pursue taking the company private at this time. What is undimmed is our belief in the future of MGM Resorts. We continue to hold 66.8 million shares representing approximately 27% of MGM Resorts and have total confidence in both the management and the Company's prospects."
Continued Mr. Diller, "I want to thank the Special Committee and all the MGM Directors for giving us the time and consideration during the process. People Incorporated is doing just fine with its principal publishing business achieving its 11th quarter of growth with plenty of cash to both invest in its business and purchase its stock."
"We at People Incorporated remain open to and interested in the possibility of a strategic transaction with MGM Resorts and look forward to considering a range of alternatives," concluded Mr. Diller.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "intends," "estimates," "expects," "plans" and "believes," among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to future investments in our business and purchase of our stock, and the possibility of a strategic transaction. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the impact of advances in artificial intelligence ("AI") and other digital technologies, including AI-enabled search features, on how users access and consume information and the resulting effects on traffic, engagement and monetization, (ii) our reliance on search engines and third-party platforms, including changes in algorithms, policies, economics or features (including those implemented by Google), as well as the potential expiration or modification of key commercial agreements, (iii) our ability to effectively market our products and services in a cost-efficient manner across evolving digital channels, (iv) our dependence on advertising revenue and the sensitivity of such revenue to macroeconomic conditions, including factors affecting advertiser demand, consumer confidence and discretionary spending, as well as geopolitical and broader market uncertainty, (v) our ability to adapt to changes in digital marketing practices, including limitations on data access, tracking technologies and targeting capabilities, (vi) our ability to develop, distribute and monetize our products and services across mobile and other platforms and maintain effective relationships with third-party partners, (vii) the continued growth, engagement and monetization of our digital publishing brands, (viii) risks related to our Print business, including ongoing revenue declines, cost pressures (including paper and postage), and reliance on key vendors, (ix) our ability to access, collect, use and protect personal data and comply with evolving privacy and data protection laws and platform restrictions, (x) our ability to effectively engage with users, subscribers and caregivers across communication channels, (xi) the concentration of voting control among our Chairman and Senior Executive and related parties, (xii) risks related to our liquidity and indebtedness, including our ability to service debt and comply with related covenants, as well as limitations on access to subsidiary cash flows, (xiii) risks related to strategic transactions and initiatives, including our ability to realize anticipated benefits from prior transactions and execute future initiatives, (xiv) competitive pressures in rapidly evolving industries, including from larger or better-positioned competitors and AI-enabled offerings, (xv) our ability to build, maintain and protect our brands, (xvi) cybersecurity risks, including increasingly sophisticated attacks (including those enabled by AI) and vulnerabilities at third-party providers, (xvii) data security breaches, fraud and related liabilities, (xviii) risks associated with the integrity, scalability and reliability of our systems, technology and infrastructure, (xix) the impact of general economic, geopolitical and public health conditions, (xx) our dependence on key personnel and leadership transitions, (xxi) volatility in our stock price and risks related to our capital allocation strategy, and (xxii) risks related to the ongoing corporate consolidation. Certain of these and other risks and uncertainties are described in our filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 20, 2026, and subsequent reports that we file with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
About People Incorporated
People Incorporated is the owner of America's largest publisher, People Inc., home to more than 40 celebrated brands including PEOPLE, Food & Wine, Travel + Leisure, InStyle, Better Homes & Gardens, and Southern Living, attracting a total of 175 million consumers each month. The company also holds a significant minority stake in MGM Resorts International, reflecting our belief in the power and potential of businesses built around enduring consumer brands and iconic, real-world experiences.
People Incorporated represents the latest evolution in a long tradition of entrepreneurial ownership, disciplined capital allocation, and opportunistic value creation. Over three decades, the company has built, operated, invested in, and spun off many of the internet and media industry's defining businesses, and that same spirit of opportunism drives us today. People Incorporated is headquartered in New York City. To learn more visit https://ir.people-incorporated.com.
Akcie MGM za tři měsíce klesly o 13,9 %, zatímco herní odvětví ztratilo 7,3 % a S&P 500 vzrostl o 3 %. Firma zároveň dál čelí slabší poptávce v Las Vegas a ztrátám v digitálu.
Key Takeaways MGM shares have declined 13.9% in three months, trailing the Gaming industry and the S&P 500.MGM is leaning on group demand, value packages and premium upgrades to strengthen Las Vegas performance.MGM faces continued digital losses and about $1B of Osaka investment in both 2027 and 2028. MGM Resorts International’s (MGM - Free Report) shares have lost 13.9% over the past three months as investors assess uneven Las Vegas demand, limited booking visibility and substantial development commitments. The pullback may appear appealing, but the balance between the company’s growth initiatives and execution risks makes the investment case more nuanced.
The case for a recovery rests on resilient group demand, targeted value offerings and investments in premium experiences. Continued softness among value-conscious travelers, challenges in growing underlying Las Vegas EBITDA and significant capital requirements likely support a selective approach.
MGM’s Decline Trails Major BenchmarksOver the same three-month period, the Zacks Gaming industry declined 7.3%, while the S&P 500 gained 3%. This divergence places greater attention on MGM’s demand trends, earnings potential and capital-allocation priorities.
MGM’s Three-Month Price Performance
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From a technical perspective, MGM stock is currently trading below its 50-day moving average, indicating near-term price weakness.
MGM Stock Trades Below 50-Day Moving Average
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Uneven Las Vegas Demand Limits MGM’s VisibilityDemand across MGM’s Las Vegas portfolio remains divided. Premium customers continue to show resilience, but value-oriented properties, particularly Luxor and Excalibur, remain challenged.
MGM indicated that summer demand had been uneven and could remain so through the third quarter and beyond. At the time of the call, the company cited solid third-quarter group and event calendars but acknowledged that additional work was needed to strengthen fourth-quarter business.
International visitation also remains subdued. Travel from Canada is still considerably below prior levels despite some additional airline seats. MGM has also acknowledged challenges in translating Las Vegas revenue growth into stronger underlying EBITDA, keeping the pace of earnings improvement in focus.
MGM’s Value Packages and Events Target DemandMGM is using targeted offerings to address softness among value-conscious travelers. Its all-inclusive program at Luxor and Excalibur has generated well over 30,000 room nights, helping stabilize occupancy and support forward bookings. Nearly half of participating guests were first-time MGM visitors, while targeted dining, parking and gaming offers are broadening Park MGM’s appeal among local customers.
Group and convention demand remains central to the Las Vegas strategy, with the segment expected to account for approximately 20% of MGM’s room mix in 2026. The company also expressed confidence in its bookings position heading into 2027. An expanded entertainment calendar, including the 24-team Players Era basketball tournament in November, is intended to support visitation across MGM’s properties.
Premium Investments Strengthen MGM’s PositionMGM continues to invest in premium experiences across its domestic portfolio. Planned projects include enhancements to Bellagio’s convention and public areas, room remodels at ARIA and The Cosmopolitan, premium lounge upgrades at Beau Rivage and Borgata and a room renovation at Borgata. The company is also considering additional villas at Bellagio.
In Macau, MGM is combining service, innovation and promotions with continued property investment to compete for premium demand. Recent additions include suite conversions and 50,000 square feet of premium gaming space, while design work has begun on approximately 100 MGM Macau suites. MGM is using these investments to improve asset productivity and expressed confidence that MGM China can sustain operating margins in the mid-to-high 20% range.
Digital Expansion and Osaka Raise Capital RequirementsBetMGM remains focused on iGaming, disciplined customer acquisition and player management, while potential legalization in Virginia, Maryland and Indiana provides expansion opportunities. MGM also anticipates significant operating leverage and potentially substantial profitability from its European digital businesses in 2027, which could partly fund continued investment in Brazil. However, MGM Digital remains in an investment phase and is expected to record another full-year EBITDA loss, albeit lower than last year.
Osaka adds substantially to MGM’s capital requirements. The company expects to contribute approximately $125-$175 million in the second half of 2026 and roughly $1 billion in each of 2027 and 2028. Construction remains on schedule and on budget for a fall 2030 opening, but funding the project likely remain an important capital-allocation consideration.
MGM’s Valuation Does Not Signal a Clear BargainMGM trades at a forward 12-month price-to-earnings ratio of 19, below the Gaming industry average of 21.85. However, the stock carries a higher multiple than Wynn Resorts, Limited (WYNN - Free Report) and Las Vegas Sands Corp. (LVS - Free Report) , which trade at 18.32 and 12.92, respectively.
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Wynn continues to emphasize premium customers, with its Las Vegas group business pacing ahead of 2025 in both room nights and rates. Its planned Enclave hotel tower and Event Center and Theater at Wynn Palace will expand its luxury and entertainment offerings in Macau.
Las Vegas Sands is strengthening its Macau portfolio through the renovation of 2,900 Venetian Macao rooms and suites, premium gaming salons and enhanced service levels. The company expects incremental spending on table operating hours, sales, marketing and customer service to begin leveling off in the second half of 2026.
MGM offers broader exposure through its Las Vegas and regional properties, Macau operations and digital gaming businesses. However, its premium to Wynn and Sands means the recent share-price decline has not created a clear relative valuation advantage.
MGM’s Risk-Reward Profile Supports PatienceMGM’s investment case remains mixed. Resilient group and convention demand, targeted value offerings and premium-property investments support its operating outlook. However, uneven Las Vegas demand, short booking windows, continued losses at MGM Digital and substantial capital commitments keep the three-month decline from looking like a clear-cut buying opportunity.
MGM currently carries a Zacks Rank #3 (Hold). Although the stock trades below the Gaming industry’s forward earnings multiple, its premium to WYNN and LVS means it does not offer a clear relative valuation advantage. The #3 Rank supports holding for existing shareholders, while prospective investors may wait for clearer improvement in Las Vegas EBITDA and digital profitability before initiating a position.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways MGM received $546M from Northfield, lifting cash to $2.55B at June 30, 2026.MGM cut annual cash rent by $53M, adding recurring flexibility as it funds growth projects.MGM had $1.4B left under its buyback authorization while continuing major Osaka investments. MGM Resorts International (MGM - Free Report) completed the sale of MGM Northfield Park's operations for $546 million in April 2026, adding liquidity while removing a recurring lease burden. The transaction gives the company more flexibility as it balances share repurchases with sizable development spending.
That flexibility is useful, but it does not eliminate competing capital demands. MGM is still funding Osaka, maintaining its domestic portfolio and investing in digital operations, so the Northfield proceeds are best viewed as added capacity rather than pure excess cash.
MGM Turns Northfield Into $546M of Fresh LiquidityThe Northfield transaction converted a regional operating asset into $546 million of cash proceeds. MGM's cash and cash equivalents stood at $2.55 billion at June 30, 2026, up from $2.06 billion at the end of 2025, leaving the balance sheet with greater near-term liquidity.
The sale also simplifies the Regional Operations comparison because Northfield closed on April 21. MGM reported second-quarter same-store regional revenues of $904 million, up 3% year over year, showing that the remaining portfolio continued to produce revenue growth after adjusting for the disposition.
MGM Cuts $53M of Annual Cash RentExiting Northfield also reduced MGM's annual cash rent by $53 million. That recurring savings extends the economic benefit beyond the one-time sale proceeds and lowers a fixed cash obligation as management directs funds toward growth projects and shareholder returns.
MGM currently expects 2026 cash rent and ground lease payments of about $1.8 billion, with that forecast reflecting the Northfield closing. The rent reduction does not transform MGM's cost structure, but it improves recurring cash flexibility at the margin.
MGM Has More Room to Reaccelerate BuybacksMGM repurchased about 4 million shares for $164 million during the second quarter and had roughly $1.4 billion remaining under its repurchase authorization at June 30. The company has reduced its share count by nearly 50% over the past five years, making buybacks a central use of discretionary capital.
Capital-return choices differ across casino operators. Caesars Entertainment, Inc. (CZR - Free Report) had $221 million of repurchase authorization remaining at June 30 but said no repurchases were expected at that time because of its proposed merger. Wynn Resorts, Limited (WYNN - Free Report) repurchased $75 million of shares in the second quarter, showing that buybacks remain an active capital-allocation tool for major gaming peers.
MGM Still Has Major Osaka Funding NeedsNorthfield's proceeds arrive while MGM Osaka continues to absorb substantial capital. MGM expects approximately $350-$400 million of 2026 investment in unconsolidated affiliates for Osaka, while second-half funding is projected at $125-$175 million. Management also expects to deploy about $1 billion in each of 2027 and 2028.
Wynn provides a useful development comparison. Wynn had contributed $1.06 billion of cash life to date to its 40%-owned Wynn Al Marjan Island venture by June 30 and expects that resort to open in September 2027. MGM's own Osaka project remains targeted for a 2030 opening, keeping development funding a multiyear capital priority.
MGM's Style Scores Back Selective Capital ReturnNorthfield improves MGM's financial flexibility, but the transaction does not remove the need for disciplined capital allocation. The company still has major development commitments, while buybacks compete with investment in Las Vegas, digital operations and other growth initiatives.
MGM currently carries a Zacks Rank #3 (Hold), with a Value Score of A, Momentum Score of A, Growth Score of D and VGM Score of B. The favorable Value and Momentum Scores indicate stronger value and momentum characteristics, while the weaker Growth Score keeps the setup mixed. The Hold rank reinforces a balanced stance rather than a clear near-term buy signal. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
MGM Resorts International za tři měsíce vzrostla o 22,5 %, ale investoři řeší, zda růst unese slabší ziskovost. Ve 2. čtvrtletí upravená EBITDA klesla na 610 milionů USD při 1% růstu tržeb.
Key Takeaways MGM's Las Vegas revenue rose 3%, supported by record convention rates and banquet revenue.MGM China held 16.4% market share, but Segment Adjusted EBITDAR fell 15% amid higher fee expense.MGM's Adjusted EBITDA fell to $610 million as earnings declined despite 1% revenue growth. MGM Resorts International's (MGM - Free Report) shares have gained 22.5% over the past three months, putting the durability of that advance in focus. Second-quarter results offered support from Las Vegas group demand and continued digital revenue growth, while Macau held a mid-teens market share.
The counterweight is profitability. Softer value-oriented leisure demand, lower hotel metrics and weaker adjusted earnings leave investors weighing whether operating momentum can keep pace with the stock's recent move.
MGM's Convention Mix Supports Las Vegas DemandLas Vegas Strip Resorts revenues rose 3% year over year to $2.17 billion in the second quarter, while Segment Adjusted EBITDAR increased 3% to $735 million. Group and convention business represented 20% of room mix and produced record second-quarter convention average daily rates and catering and banquet revenues.
That performance stands out against an uneven Strip backdrop. Caesars Entertainment, Inc. (CZR - Free Report) reported a 3.5% decline in second-quarter Las Vegas revenues. MGM's event calendar, group base and upgraded room inventory helped offset softer leisure trends, although revenue per available room fell 4%.
MGM China Adds Premium-Mass MomentumMGM China held 16.4% market share in the second quarter, up one percentage point sequentially. Recent suite conversions and 50,000 square feet of high-end gaming space at MGM Cotai supported its premium-mass positioning, while management said July volumes rebounded after World Cup-related softness in June.
Profitability was less favorable. MGM China revenues were roughly flat at $1.10 billion, but Segment Adjusted EBITDAR fell 15% to $257 million as intercompany branding license fee expense increased by $21 million. Wynn Resorts, Limited (WYNN - Free Report) also reported higher second-quarter operating revenues at Wynn Palace, pointing to active premium demand in Macau.
MGM Digital Narrows Losses as Revenue ScalesOn a first-half basis, MGM Digital revenues increased nearly 30% to $379 million, while its Segment Adjusted EBITDAR loss narrowed to about $56 million from $60 million. The core LeoVegas and BetMGM-branded European businesses are expected to provide better operating leverage in 2027 and help fund growth investments in Brazil.
The quarterly picture was more mixed. Second-quarter MGM Digital revenues rose 20% to $196 million, but the loss widened to $31 million from $26 million. BetMGM North America generated $711 million of quarterly net revenue, up 3%, while Adjusted EBITDA fell 15% to $74 million.
MGM Still Faces Value and Cost PressureThe lower end of MGM's Las Vegas portfolio remains a pressure point. Luxor and Excalibur continued to face softer demand, even as the all-inclusive package helped stabilize occupancy and bookings. Strip room revenues declined 2% and average daily rate fell 4% in the second quarter.
Those trends matter because consolidated Adjusted EBITDA declined to $610 million from $648 million despite 1% revenue growth. Adjusted earnings per share fell to 59 cents from 79 cents, leaving less room for execution misses as MGM continues investing in luxury upgrades, digital expansion and Osaka.
MGM's Momentum Strength Meets Growth CautionMGM's 22.5% three-month advance is backed by better Las Vegas revenues, a resilient convention mix and continued digital scaling. Still, weaker adjusted earnings, Macau margin pressure and softness among value-conscious leisure customers argue for a measured view on how much of the recovery is already reflected in the shares.
The stock currently carries a Zacks Rank #3 (Hold), with a Value Score of A, Momentum Score of A, Growth Score of D and VGM Score of B. The favorable value and momentum grades support the recent setup, but the weaker growth score tempers the picture. For a #3 Ranked stock, the combination is more consistent with holding than treating the rally as a clear new-buy signal. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
MGM Resorts oznámila rekordní konsolidované čisté tržby za 2. čtvrtletí a 20% meziroční růst tržeb MGM Digital. Představenstvo zároveň dál posuzuje nabídku od People Incorporated.
MGM Buyout: The House Doesn't Always WinMGM Resorts International NYSE: MGM said its second-quarter momentum was supported by record consolidated net revenue, continued growth at its Las Vegas Strip properties, record same-store regional revenue and 20% year-over-year revenue growth at MGM Digital.
Chief Executive Officer and President Bill Hornbuckle said the company’s board continues to evaluate an offer from People Incorporated through a special committee of independent directors. Hornbuckle said he and Chief Financial Officer Jonathan Halkyard would not address the proposal during the question-and-answer session.
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Caesars Surges on Buyout Buzz. Should Investors Take the Bet?Hornbuckle said the company entered the second half with positive momentum across Las Vegas, regional casinos, Macau and digital operations, while construction of its Osaka integrated resort remains on schedule for a fall 2030 opening.
Las Vegas revenue and group business supported results In Las Vegas, MGM reported year-over-year growth in both net revenue and segment adjusted EBITDA during the second quarter. Halkyard said Strip-resort EBITDA was up $25 million year to date, primarily reflecting a recovery at MGM Grand following room renovations and a favorable hold benefit.
3 Bargain Stocks the Market Is Sleeping on Right NowGroup and convention business accounted for 20% of MGM’s room mix during the quarter, keeping the company on pace for that segment to represent 20% of full-year room mix, Hornbuckle said. Technology and hospitality corporate groups, business-to-business trade shows and professional association meetings helped drive the company’s highest second-quarter convention average daily rate, as well as record catering and banquet revenue.
Hornbuckle said April and May were strong, with May benefiting from events and other activity. June was more challenging as summer conditions intensified, though July had been favorable. MGM expects a solid third quarter supported by group business and a larger citywide event calendar, while Hornbuckle said the company has “some work to do” in the fourth quarter.
Chief Operating Officer Ayesha Molino said luxury properties and the group segment remained strong, while the lower end of MGM’s Las Vegas portfolio, particularly Luxor and Excalibur, remained challenged but had stabilized.
MGM’s all-inclusive offering at Luxor and Excalibur has booked more than 30,000 room nights since its launch four months ago, according to Hornbuckle. Nearly half of guests booking the offer were first-time MGM visitors. Molino said the package has supported occupancy, generated higher weekend rates, and delivered a favorable margin profile.
The company is also seeking to draw more local customers to Park MGM through food-and-beverage, parking and free-play offers. Molino cited the resort’s proximity to T-Mobile Arena and Dolby Live, its nonsmoking positioning and its existing local high-end gaming business as factors supporting that effort.
Luxury investment plans remain within current capital framework MGM plans further upgrades to its Las Vegas luxury offerings, including work at Bellagio’s convention and public spaces, potential additional villas, and future room renovations at Aria and The Cosmopolitan. Hornbuckle said the company also sees opportunities to build on the activation of Bellagio’s Lakeside area.
Halkyard said MGM can complete significant renovations within the level of capital expenditures it has maintained over the past several years. Projects that expand the company’s physical footprint or add capacity would likely require capital spending above that base level.
“Las Vegas is our home,” Hornbuckle said, describing the market as the epicenter of gaming and saying MGM intends to continue investing in luxury experiences where returns justify it.
MGM is also preparing to host the Players Era Basketball Tournament in November across Mandalay Bay’s Michelob Ultra Arena and T-Mobile Arena. The tournament will include 24 collegiate basketball programs and will be televised on ESPN networks.
Regional casinos set same-store records MGM’s regional operations produced their best quarterly revenue on a same-store basis, with same-store slot handle rising 4% and slot win increasing 3%, Halkyard said. Several properties posted record revenue during the period, including Empire City, which increased gross gaming revenue in June despite new competition in New York state.
Borgata was a major contributor to record same-store casino revenue and slot win, supported by improvements to high-limit gaming areas. MGM plans to enhance premium lounges at Beau Rivage and Borgata and begin room renovations at Borgata before year-end.
Hornbuckle also pointed to the planned Sphere venue near MGM National Harbor as a potential demand driver. He said projections call for approximately 2.5 million visitors at the roughly 6,500-seat venue and that MGM expects to capture demand given its location next to the property.
Macau volumes recovered following World Cup disruption MGM China maintained a 16.4% market share in the second quarter, up one percentage point sequentially. While Macau volumes declined during June amid World Cup activity, company executives said the weakness was temporary.
Kenneth Feng, CEO of MGM China Holdings, said business volumes and visitation improved beginning in the second week of July. He said Macau gaming revenue had recovered to nearly first-quarter levels in the prior week, while MGM’s property visitation and normalized gross gaming revenue had exceeded first-quarter levels.
Feng said MGM’s strategy in Macau centers on optimizing the yield of its gaming floors through a combination of products, service, innovation and promotions rather than promotions alone. The company recently completed suite conversions and expanded premium gaming space at MGM Cotai, and it has begun design work for about 100 suites at MGM Macau.
Digital operations grow as Osaka construction advances MGM Digital generated 20% revenue growth in the quarter and recorded segment adjusted EBITDA losses of $31 million. Halkyard said the company expects MGM Digital’s full-year EBITDA loss to be lower than last year’s as it calibrates its Brazil operations.
Gary Fritz, chief commercial officer and president of MGM Digital, said MGM’s European LeoVegas and BetMGM-branded businesses are positioned for operating leverage and potentially substantial profitability in 2027. MGM expects those operations to help fund some future growth investments, particularly in Brazil.
At the BetMGM North America venture, MGM said iGaming revenue grew 8% in the second quarter. During the first half, handle per active customer rose 7% and net gaming revenue per active customer increased 9% in iGaming. In online sports betting, handle per active customer increased 18% and net gaming revenue per active customer rose 17%.
In Japan, MGM expects its Osaka funding commitment for the second half of 2026 to be approximately $125 million to $175 million. The company has spent about $600 million to date and expects to deploy roughly $1 billion in each of 2027 and 2028, completing its capital commitments. More than 60% of foundation piles have been completed, and MGM said the project remains on time and on budget.
During the quarter, MGM repurchased about 4.3 million shares for $164 million. Halkyard said the company has reduced its share count by nearly 50% over the past five years.
About MGM Resorts International (NYSE:MGM)MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.
The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.
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MGM China oznámila za první pololetí rekordní čisté tržby 17,4 miliardy HK$ a udržela tržní podíl kolem 15,9 %. Adjusted EBITDA činila 4,8 miliardy HK$.
Revenue Rose to Record High
Solid Market Share of 15.9%
, /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company"; SEHK Stock Code: 2282) today announced the selected unaudited financial data of the Company and its subsidiaries (the "Group") for the six months ended June 30, 2026 (the "Period").
The Group is encouraged by Macau's continued growth during the Period. Average daily visitation in the first half of 2026 reached 115,715, representing a 9% increase compared with the corresponding period last year.
Macau's gross gaming revenue ("GGR") also continued to recover during the Period, with average daily GGR increasing by 7% year on year to approximately MOP701 million in the first half of 2026.
MGM China saw property visitation during the Period up by 7% from last year. MGM China's daily GGR in the first half of 2026 grew by 5% year-on-year to MOP111 million, compared to MOP106 million last year. Net revenue for the Group reached historical high at HK$17.4 billion for the Period, compared with HK$16.7 billion in the corresponding period last year. The Group reported adjusted EBITDA of HK$4.8 billion, compared with HK$4.9 billion in the corresponding period last year. The Group maintained a solid market share of approximately 15.9% during the Period. This performance was partly affected by a lower VIP win rate (2026: 2.6% vs 2025: 3.5%). MGM COTAI accounted for approximately 9.7% of the market, while MGM MACAU accounted for approximately 6.2%. Average occupancy was 93.5% for the Period. The Group maintained a healthy financial position. As of June 30, 2026, the Group had total liquidity of approximately HK$24.7 billion, comprised of Bank balances and cash and undrawn revolver. During the Period, the Group continued to optimize its assets to enhance competitiveness and drive future growth. MGM COTAI completed the suite conversion project during the Period, with nearly 60 Prime Wellness Suites launched. The new suites have been well received by guests, reflecting the Group's commitment to evolving with changing customer preferences and wellness trends.
At MGM MACAU, the Group also celebrated the opening of Chatterbox Café, the renowned Singapore dining brand. With a legacy spanning more than five decades, Chatterbox is renowned for its authentic Singaporean cuisine and has established itself as a highly recognized culinary brand across Asia.
During the Period, MGM China earned seven Forbes Travel Guide Five-Star Awards, reaffirming its commitment to exceptional guest experiences. MGM MACAU achieved a milestone by securing its 11th consecutive Five-Star rating, while Tria Spa at both MGM MACAU and MGM COTAI clinched the accolade for the seventh straight year. Additionally, Emerald Tower, Skylofts, and Five Foot Road at MGM COTAI, alongside Imperial Court at MGM MACAU, sustained their Five-Star status for the fifth consecutive year, underscoring the Group's consistent excellence across accommodation, wellness, and dining.
In June, MGM China announced the acquisition of MGM Asia Pacific Limited, a Hong Kong-incorporated company, from MGM Resorts International. MGM Asia Pacific Limited holds a 100% interest in MGM Hospitality Group (Asia Pacific), Ltd. ("MGM Hospitality"), a hospitality management company that operates luxury and upscale hotels, lifestyle destinations and cultural tourism projects across Chinese Mainland.
Through the acquisition, MGM China will leverage the 19 years of operating experience, brand platform and established relationship network developed by MGM Hospitality. MGM Hospitality currently manages eight operating hotels, has more than 12 active projects under development across various cities in Mainland China, and provides access to over 1.5 million Mlife loyalty program members.
The eight operating hotels include:
Bellagio by MGM Shanghai MGM Shanghai West Bund MGM Grand Sanya Mhub by MGM Nanjing Jiangning MGM Reserve Qingdao MGM Qingdao MGM Reserve Zhuhai MGM Shenzhen Kenneth Feng, Chief Executive Officer of MGM China said: "This acquisition represents a strategic opportunity for MGM China to strengthen its strategic and operational oversight of MGM Hospitality. We are confident that it will create meaningful synergies that enhance our competitive edge and support the Group's sustainable growth."
Following the suite conversion at MGM COTAI earlier this year, the Group will commence renovations of approximately 100 suites at MGM MACAU. This initiative will further strengthen the complementary positioning of our properties, establishing MGM MACAU as a premier venue on the Peninsula and MGM COTAI as the preferred destination for premium customers.
"MGM China is dedicated to improving our products and service levels, while delivering compelling experiences for guests. We are committed to supporting Macau into a global and diversified tourist destination," said Kenneth Feng.
- End -
About MGM China Holdings Limited
MGM China Holdings Limited (HKEx: 2282) is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM China is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, ARIA, MGM Grand, Mandalay Bay and Park MGM. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
MGM Resorts (MGM - Free Report) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -6.35%. A quarter ago, it was expected that this casino and resort operator would post earnings of $0.56 per share when it actually produced earnings of $0.49, delivering a surprise of -12.5%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
MGM, which belongs to the Zacks Gaming industry, posted revenues of $4.45 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.37%. This compares to year-ago revenues of $4.4 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
MGM shares have added about 26.6% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for MGM?While MGM has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MGM was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.27 on $4.31 billion in revenues for the coming quarter and $1.99 on $17.75 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Light & Wonder (LNWO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4.
This instant-win lottery ticket maker is expected to post quarterly earnings of $1.75 per share in its upcoming report, which represents a year-over-year change of +10.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Light & Wonder's revenues are expected to be $846.45 million, up 4.6% from the year-ago quarter.
Record 2Q consolidated revenue Second consecutive quarter of Las Vegas Strip Resorts year-over-year revenue growth All-time best Regional Operations same-store quarterly revenue , /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended June 30, 2026.
"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," said Bill Hornbuckle, President and CEO of MGM Resorts International. "Alongside this momentum in our existing operations, we continue to build for the future with investment in the largest integrated resort in the world, MGM Osaka, on track for 2030 opening, as well as returns on our digital businesses."
"Our disciplined and targeted capital allocation strategy fueled Segment Adjusted EBITDAR growth across our Las Vegas Strip Resorts, record setting results at several of our Regional Operations, and market share gains at MGM China," said Jonathan Halkyard, CFO of MGM Resorts International. "We will continue to allocate growth capital to drive significant returns on investment with meaningful opportunities at our Las Vegas luxury offerings."
Second Quarter 2026 Financial Highlights:
Consolidated Results
Consolidated revenue of $4.5 billion, an increase of 1% compared to the prior year quarter Net income attributable to MGM Resorts was $292 million in the current quarter compared to $49 million in the prior year quarter Consolidated Adjusted EBITDA of $610 million in the current quarter compared to $648 million in the prior year quarter Diluted earnings per share of $1.11 in the current quarter compared to $0.18 in the prior year quarter Adjusted diluted earnings per share ("Adjusted EPS") of $0.59 in the current quarter compared to $0.79 in the prior year quarter Las Vegas Strip Resorts
Revenue of $2.2 billion in the current quarter compared to $2.1 billion in the prior year quarter, an increase of 3% Segment Adjusted EBITDAR of $735 million in the current quarter compared to $710 million in the prior year quarter, an increase of 3% Regional Operations
Revenue of $924 million in the current quarter compared to $965 million in the prior year quarter, a decrease of 4% Same-store revenue (adjusted for dispositions) of $904 million in the current quarter compared to $879 million in the prior year quarter, an increase of 3% Segment Adjusted EBITDAR of $280 million in the current quarter compared to $309 million in the prior year quarter, a decrease of 9% Same-Store Segment Adjusted EBITDAR of $271 million in the current quarter, which was flat compared to the prior year quarter MGM China
Revenue of $1.1 billion in the current quarter, which was relatively flat compared to the prior year quarter Segment Adjusted EBITDAR of $257 million in the current quarter compared to $301 million in the prior year quarter, a decrease of 15% Intercompany branding license fee expense increased by $21 million over the prior year quarter MGM Digital (1)
Revenue of $196 million in the current quarter compared to $164 million in the prior year quarter, an increase of 20% Segment Adjusted EBITDAR loss of $31 million in the current quarter compared to a loss of $26 million in the prior year quarter (1)
MGM Digital consists of LeoVegas and other consolidated subsidiaries that offer interactive gaming; it does not include the BetMGM North America Venture.
Adjusted EPS
The following table reconciles diluted earnings per share ("EPS") to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):
Three Months Ended June 30,
2026
2025
Diluted earnings per share
$ 1.11
$ 0.18
Property transactions, net
(1.13)
(0.01)
Goodwill impairment
0.37
—
Non-operating items:
Loss (gain) related to debt and equity investments
0.03
(0.01)
Foreign currency transaction (gain) loss
(0.12)
0.72
Change in the fair value of foreign currency contracts
0.10
(0.12)
Income tax impact on net income adjustments(1)
0.23
0.03
Adjusted EPS
$ 0.59
$ 0.79
(1)
The income tax impact includes current and deferred income tax expense based upon the nature of the adjustment and the jurisdiction in which it occurs.
The current year quarter includes an income tax expense of $14 million resulting from an increase in the valuation allowance on foreign tax credits.
Las Vegas Strip Resorts
The following table shows key gaming statistics for Las Vegas Strip Resorts:
Three Months Ended June 30,
2026
2025
% Change
(Dollars in millions)
Casino revenue
$ 536
$ 457
17 %
Table games drop
$ 1,523
$ 1,554
(2) %
Table games win
$ 451
$ 355
27 %
Table games win %
29.6 %
22.9 %
Slot handle
$ 5,915
$ 5,886
— %
Slot win
$ 566
$ 549
3 %
Slot win %
9.6 %
9.3 %
The following table shows key hotel statistics for Las Vegas Strip Resorts:
Three Months Ended June 30,
2026
2025
% Change
Room revenue (in millions)
$ 717
$ 735
(2) %
Occupancy
93 %
93 %
Average daily rate (ADR)
$ 242
$ 252
(4) %
Revenue per available room (RevPAR)
$ 224
$ 235
(4) %
Regional Operations
The following table shows key gaming statistics for Regional Operations:
Three Months Ended June 30,
2026
2025
% Change
(Dollars in millions)
Casino revenue
$ 668
$ 710
(6) %
Table games drop
$ 1,020
$ 985
4 %
Table games win
$ 222
$ 213
4 %
Table games win %
21.8 %
21.6 %
Slot handle
$ 6,353
$ 6,868
(7) %
Slot win
$ 634
$ 694
(9) %
Slot win %
10.0 %
10.1 %
MGM China
The following table shows key gaming statistics for MGM China:
Three Months Ended June 30,
2026
2025
% Change
(Dollars in millions)
Casino revenue
$ 956
$ 977
(2) %
Main floor table games drop
$ 3,815
$ 4,085
(7) %
Main floor table games win
$ 1,038
$ 1,021
2 %
Main floor table games win %
27.2 %
25.0 %
Intercompany branding license fee expense for MGM China, which eliminates in consolidation, was $40 million in the current quarter and $19 million in the prior year quarter.
Unconsolidated Affiliates
The following table summarizes information related to the Company's share of operating income from unconsolidated affiliates:
Three Months Ended June 30,
2026
2025
(In thousands)
BetMGM North America Venture
$ 23,097
$ 21,770
Other
2,741
4,090
$ 25,838
$ 25,860
MGM Resorts Share Repurchases
During the second quarter of 2026, the Company repurchased approximately 4 million shares of its common stock for an aggregate amount of $164 million, pursuant to its repurchase plan. The remaining availability under the April 2025 stock repurchase plan was approximately $1.4 billion as of June 30, 2026. All shares repurchased under the Company's repurchase plan have been retired.
Conference Call Details
MGM Resorts will host a conference call at 5:00 p.m. Eastern Time today, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM's Investor Relations website at http://investors.mgmresorts.com.
The call will be accessible via the internet through http://investors.mgmresorts.com/events-and-presentations/ or by calling 1-888-317-6003 for domestic callers and 1-412-317-6061 for international callers. The conference call access code is 3854404.
A replay of the call will be available through August 5, 2026. The replay may be accessed by dialing 1-855-669-9658 or 1-412-317-0088. The replay access code is 6498752.
"Segment Adjusted EBITDAR" is our reportable segment GAAP measure, which we utilize as the primary profit measure for our reportable segments and underlying operating segments. Segment Adjusted EBITDAR is a measure defined as earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, triple net lease rent expense, income from unconsolidated affiliates, goodwill impairment, and also excludes corporate expense and stock compensation expense, which are not allocated to each operating segment. Triple net lease rent expense is the expense for rent to landlords under triple net operating leases for its domestic properties, the ground subleases of Beau Rivage and MGM National Harbor, and the land concessions at MGM China.
"Same-Store Segment Adjusted EBITDAR" is Segment Adjusted EBITDAR further adjusted to exclude the Segment Adjusted EBITDAR of disposed operating segments from the beginning of the reporting period through the date of disposition. Accordingly, for Regional Operations, we have excluded the Segment Adjusted EBITDAR of MGM Northfield Park for the periods prior to its disposition on April 21, 2026, as applicable.
Same-Store Segment Adjusted EBITDAR is a non-GAAP measure and is presented solely as a supplemental disclosure to reported GAAP measures because management believes this measure is useful in providing meaningful period-to-period comparisons of the results of the Company's operations for operating segments that were consolidated for the full period presented to assist users of the financial statements in reviewing operating performance over time. Same-Store Segment Adjusted EBITDAR should not be viewed as a measure of overall operating performance, considered in isolation, or as an alternative to the Company's reportable segment GAAP measure or net income, or as an alternative to any other measure determined in accordance with generally accepted accounting principles, because this measure is not presented on a GAAP basis, and is provided for the limited purposes discussed herein. In addition, Same-Store Segment Adjusted EBITDAR may not be defined in the same manner by all companies and, as a result, may not be comparable to similarly titled non-GAAP financial measures of other companies, and such differences may be material. A reconciliation of the Company's reportable segment Segment Adjusted EBITDAR GAAP measure to Same-Store Segment Adjusted EBITDAR is included in the financial schedules in this release.
"Consolidated Adjusted EBITDA" is earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, preopening and start-up expenses, property transactions, net, and goodwill impairment. Consolidated Adjusted EBITDA information is a non-GAAP measure that is presented solely as a supplemental disclosure to reported GAAP measures because it is among the measures used by management to evaluate our operating performance, and because we believe this measure is widely used by analysts, lenders, financial institutions, and investors as a measure of operating performance in the gaming industry and as a principal basis for the valuation of gaming companies. We believe that while items excluded from Consolidated Adjusted EBITDA may be recurring in nature and should not be disregarded in evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods because these items can vary significantly depending on specific underlying transactions or events that may not be comparable between the periods being presented. Also, we believe excluded items may not relate specifically to current operating trends or be indicative of future results. For example, preopening and start-up expenses will be significantly different in periods when we are developing and constructing a major expansion project and will depend on where the current period lies within the development cycle, as well as the size and scope of the project(s). Property transactions, net includes normal recurring disposals, gains and losses on sales of assets related to specific assets within our properties, but also includes gains or losses on sales of an entire operating resort or a group of resorts and impairment charges on entire asset groups or investments in unconsolidated affiliates, which may not be comparable period over period. However, Consolidated Adjusted EBITDA has limitations as an analytical tool, and should not be construed as an alternative or substitute to any measure determined in accordance with generally accepted accounting principles. For example, we have significant uses of cash flows, including capital expenditures, interest payments, income taxes, and debt principal repayments, which are not reflected in Consolidated Adjusted EBITDA. Accordingly, while we believe that Consolidated Adjusted EBITDA is a relevant measure of performance, Consolidated Adjusted EBITDA should not be construed as an alternative to or substitute for operating income or net income as an indicator of our performance, or as an alternative to or substitute for cash flows from operating activities as a measure of liquidity. In addition, other companies in the gaming and hospitality industries that report Consolidated Adjusted EBITDA may calculate Consolidated Adjusted EBITDA in a different manner and such differences may be material. A reconciliation of GAAP net income to Consolidated Adjusted EBITDA is included in the financial schedules in this release.
"Adjusted EPS" is diluted earnings or loss per share adjusted to exclude property transactions, net, net gain/loss related to equity investments for which we have elected the fair value option of ASC 825 and equity investments accounted for under ASC 321 for which there is a readily determinable fair value and net gain/loss related to our investments in debt securities, foreign currency transaction net gain/loss, and change in the fair value of foreign currency contracts.
Adjusted EPS is a non-GAAP measure and is presented solely as a supplemental disclosure to reported GAAP measures because we believe this measure is useful in providing period-to-period comparisons of the results of our continuing operations to assist investors in reviewing our operating performance over time. We believe that while certain items excluded from Adjusted EPS may be recurring in nature and should not be disregarded in evaluating our earnings performance, it is useful to exclude such items when comparing current performance to prior periods because these items can vary significantly depending on specific underlying transactions or events. Also, we believe certain excluded items, and items further discussed with respect to Consolidated Adjusted EBITDA above, may not relate specifically to current operating trends or be indicative of future results. Adjusted EPS should not be construed as an alternative to GAAP earnings per share as an indicator of our performance. In addition, Adjusted EPS may not be defined in the same manner by all companies and, as a result, may not be comparable to similarly titled non-GAAP financial measures of other companies. A reconciliation of Adjusted EPS to diluted earnings per share can be found under "Adjusted EPS" included in this release.
RevPAR is hotel revenue per available room.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and entertainment company with national and international destinations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 30 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers sports betting and online gaming in North America through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary, LV Lion Holding Limited, offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe and Brazil. The Company is currently pursuing targeted expansion in Asia through an integrated resort development in Japan. Through its Focused on What Matters philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on X as well as Facebook and Instagram.
Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to: the Company's expectations regarding its financial outlook (including expectations regarding group and convention bookings); the Company's expectations regarding its consideration of any acquisition proposal from People Incorporated and any actions taken by the Company in respect of any such proposal, including with respect to the negotiation and entry (or failure to enter) into an agreement involving the acquisition of the Company's equity interests or its business and its ability to consummate such a transaction on any timeline or at all; any benefits expected to be received from the Company's transactions and capital investments; the Company's ability to execute on its strategic plans, including the Company's development project in Japan; expectations regarding growth at MGM Digital, BetMGM North America Venture, or MGM China; expectations regarding events and experiences to be held at the Company's properties; and the Company's ability to return capital to shareholders (including the timing and amount of any share repurchases). These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include: the effects of economic conditions and market conditions in the markets in which the Company and its unconsolidated affiliates (including BetMGM North America Venture) operate and competition with online gaming and sports betting operators and destination travel locations throughout the United States and the world; the design, timing and costs of expansion and capital investment projects in Japan and Dubai; changes in applicable laws or regulations, particularly with respect to iGaming and online sports betting; risks relating to domestic and international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions; disruptions in the availability of the Company's information and other systems or those of third parties on which the Company rely, through cyber-attacks, or otherwise; and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
MGM RESORTS CONTACTS:
Investment Community
SARAH ROGERS
Senior Vice President of Corporate Finance & Treasurer
[email protected]
HOWARD WANG
Vice President of Investor Relations
[email protected]
News Media
BRIAN AHERN
Executive Director of Communications
[email protected]
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
June 30,
June 30,
2026
2025
2026
2025
Revenue
Casino
$
2,383,185
$
2,329,798
$
4,762,040
$
4,581,946
Rooms
849,143
860,401
1,716,997
1,723,809
Food and beverage
802,332
778,179
1,607,172
1,548,352
Entertainment, retail and other
416,333
436,492
819,502
827,845
4,450,993
4,404,870
8,905,711
8,681,952
Expenses
Casino
1,349,281
1,333,850
2,698,833
2,578,160
Rooms
276,390
272,066
561,666
552,915
Food and beverage
582,734
576,633
1,159,014
1,136,928
Entertainment, retail and other
263,346
262,880
516,766
497,309
General and administrative
1,263,260
1,213,691
2,546,092
2,378,589
Corporate expense
131,433
124,096
268,653
266,447
Preopening and start-up expenses
112
849
1,089
934
Property transactions, net
(286,695)
125
(272,475)
15,593
Goodwill impairment
111,019
-
111,019
-
Depreciation and amortization
282,315
241,975
546,040
478,419
3,973,195
4,026,165
8,136,697
7,905,294
Income from unconsolidated affiliates
25,838
25,860
35,864
12,964
Operating income
503,636
404,565
804,878
789,622
Non-operating income (expense)
Interest expense, net of amounts capitalized
(102,129)
(105,584)
(202,818)
(212,853)
Non-operating items from unconsolidated affiliates
2,525
(4,055)
18
(3,793)
Other, net
9,488
(161,170)
13,691
(172,436)
(90,116)
(270,809)
(189,109)
(389,082)
Income before income taxes
413,520
133,756
615,769
400,540
Provision for income taxes
(90,731)
(15,662)
(118,188)
(55,715)
Net income
322,789
118,094
497,581
344,825
Less: Net income attributable to noncontrolling interests
(30,356)
(69,143)
(80,012)
(147,320)
Net income attributable to MGM Resorts International
$
292,433
$
48,951
$
417,569
$
197,505
Earnings per share
Basic
$
1.12
$
0.18
$
1.61
$
0.70
Diluted
$
1.11
$
0.18
$
1.59
$
0.70
Weighted average common share outstanding
Basic
254,018
273,329
255,193
280,199
Diluted
257,758
275,615
258,327
282,328
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)
June 30,
December 31,
2026
2025
ASSETS
Current assets
Cash and cash equivalents
$
2,547,380
$
2,062,994
Accounts receivable, net
1,218,354
1,122,940
Inventories
123,371
124,535
Income tax receivable
1,612
220,154
Prepaid expenses and other
513,236
486,419
Assets held for sale
-
315,382
Total current assets
4,403,953
4,332,424
Property and equipment, net
6,182,784
6,305,614
Investments in and advances to unconsolidated affiliates
637,534
536,066
Goodwill
4,768,737
4,901,960
Other intangible assets, net
1,258,099
1,356,676
Operating lease right-of-use assets, net
21,659,125
23,002,707
Deferred income taxes
117,192
89,792
Other long-term assets, net
820,902
848,547
$
39,848,326
$
41,373,786
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts and construction payable
$
422,884
$
421,502
Accrued interest on long-term debt
72,345
71,845
Other accrued liabilities
2,803,719
2,993,179
Liabilities related to assets held for sale
-
25,581
Total current liabilities
3,298,948
3,512,107
Deferred income taxes
2,600,028
2,617,067
Long-term debt, net
6,068,442
6,230,141
Operating lease liabilities
23,778,515
24,962,742
Other long-term obligations
726,335
775,411
Total liabilities
36,472,268
38,097,468
Redeemable noncontrolling interests
8,404
21,777
Stockholders' equity
Common stock, $0.01 par value: authorized 1,000,000,000 shares,
issued and outstanding 251,586,206 and 258,323,143 shares
2,516
2,583
Capital in excess of par value
-
-
Retained earnings
2,308,750
2,106,836
Accumulated other comprehensive income
202,509
320,498
Total MGM Resorts International stockholders' equity
2,513,775
2,429,917
Noncontrolling interests
853,879
824,624
Total stockholders' equity
3,367,654
3,254,541
$
39,848,326
$
41,373,786
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
SUPPLEMENTAL DATA - REVENUE
(In thousands)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
June 30,
June 30,
2026
2025
2026
2025
Las Vegas Strip Resorts
$
2,170,045
$
2,114,692
$
4,350,475
$
4,290,812
Regional Operations
924,098
964,612
1,842,008
1,865,031
MGM China
1,100,881
1,110,093
2,222,916
2,137,565
MGM Digital
196,308
163,861
379,049
291,919
Management and other operations
59,661
51,612
111,263
96,625
$
4,450,993
$
4,404,870
$
8,905,711
$
8,681,952
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
SUPPLEMENTAL DATA - SEGMENT ADJUSTED EBITDAR AND CONSOLIDATED ADJUSTED EBITDA
(In thousands)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
June 30,
June 30,
2026
2025
2026
2025
Las Vegas Strip Resorts
$
735,118
$
710,496
$
1,484,325
$
1,521,656
Regional Operations
280,216
308,656
539,653
587,698
MGM China
256,709
301,342
530,183
586,907
MGM Digital (1)
(30,884)
(25,698)
(56,486)
(60,091)
Unconsolidated affiliates - BetMGM and other (2)
25,838
25,860
35,864
12,964
Management and other operations
31,610
20,230
58,156
41,994
Stock compensation
(15,668)
(16,454)
(50,770)
(45,076)
Triple net lease rent expense
(552,188)
(564,416)
(1,116,815)
(1,128,891)
Corporate (3)
(120,364)
(112,502)
(233,559)
(232,593)
Consolidated Adjusted EBITDA
$
610,387
$
647,514
$
1,190,551
$
1,284,568
Additional Information:
Non-cash rent (4)
$
96,154
$
106,212
$
198,501
$
217,349
(1) MGM Digital consists of LeoVegas and other consolidated subsidiaries that offer interactive gaming.
(2) Represents the Company's share of operating income of unconsolidated affiliates.
(3) Includes amounts related to MGM China of $14 million and $28 million for current quarter and current year, respectively, and of $13 million and $23 million for prior year quarter
and prior year, respectively.
(4) Represents the excess of expense over cash paid related to triple net operating and ground leases.
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF NET INCOME ATTRIBUTABLE TO MGM RESORTS INTERNATIONAL TO CONSOLIDATED ADJUSTED EBITDA
(In thousands)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
June 30,
June 30,
2026
2025
2026
2025
Net income attributable to MGM Resorts International
$
292,433
$
48,951
$
417,569
$
197,505
Plus: Net income attributable to noncontrolling interests
30,356
69,143
80,012
147,320
Net income
322,789
118,094
497,581
344,825
Provision for income taxes
90,731
15,662
118,188
55,715
Income before income taxes
413,520
133,756
615,769
400,540
Non-operating (income) expense:
Interest expense, net of amounts capitalized
102,129
105,584
202,818
212,853
Other, net
(12,013)
165,225
(13,709)
176,229
90,116
270,809
189,109
389,082
Operating income
503,636
404,565
804,878
789,622
Preopening and start-up expenses
112
849
1,089
934
Property transactions, net
(286,695)
125
(272,475)
15,593
Goodwill impairment
111,019
-
111,019
-
Depreciation and amortization
282,315
241,975
546,040
478,419
Consolidated Adjusted EBITDA
$
610,387
$
647,514
$
1,190,551
$
1,284,568
MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
RECONCILIATIONS OF REGIONAL OPERATIONS REVENUE TO REGIONAL OPERATIONS SAME-STORE REVENUE
AND REGIONAL OPERATIONS SEGMENT ADJUSTED EBITDAR TO REGIONAL OPERATIONS SAME-STORE SEGMENT ADJUSTED EBITDAR
BetMGM said second-quarter revenue rose 3% year over year to $711 million as growth in iGaming offset pressure in sports betting and retail operations. The company, jointly owned by MGM Resorts International and Entain LON: ENT, reported adjusted EBITDA of $74 million for the quarter and $99 million for the first half of 2026.
Chief Executive Officer Adam Greenblatt said the quarter was “a little lighter than expected,” but characterized the results as continued progress toward profitable growth. First-half revenue totaled $1.4 billion, up 4% from a year earlier, while the company generated $77 million in adjusted EBITDA less capital expenditures, which it described as its best proxy for cash available to parents.
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Guidance Maintained, With Results Expected Near Low End BetMGM maintained its full-year outlook for revenue of $2.9 billion to $3.1 billion and adjusted EBITDA of $300 million to $350 million. However, Greenblatt said the company now expects to finish toward the lower end of both ranges because of market conditions following the second quarter.
The company cited heightened competition from both regulated operators and prediction-market platforms, as well as broader pressure on consumer discretionary spending. Greenblatt said the primary macro issue affecting online sports betting was prediction markets, though he also pointed to higher gas prices and challenges in separating the effects of different consumer pressures.
Despite those headwinds, BetMGM said it is preserving investment in its stronger markets while cutting back in lower-return sports-betting-only states. In particular, the company is focusing its marketing spending on multi-product states, where sports betting customers can be cross-sold into iGaming.
Greenblatt said more than 60% of sports bettors in those states cross-sell into gaming, and that BetMGM would continue to invest “full throttle” in both sports and gaming in those markets.
iGaming Growth Offsets Flat Online Sports Revenue iGaming revenue rose 8% year over year to $483 million in the quarter, supported by player-management improvements and engagement. Net gaming revenue per active player increased 7%, while active-player levels remained stable despite new competitors entering some markets.
Nearly 70% of BetMGM’s revenue comes from iGaming, Greenblatt said. The company highlighted exclusive game releases, including Game of Thrones titles in Ontario, as well as additions to the Rakin’ Bacon, Buffalo Triple Power and Money Gong franchises. It also introduced Elvis Presley: Viva Las Records and Marilyn Monroe Slingo.
Management said the iGaming environment remains highly competitive. Greenblatt said BetMGM’s iGaming customer-acquisition costs were more than 15% higher than a year earlier, partly reflecting new entrants in established markets such as Michigan. He also cited new know-your-customer requirements in Pennsylvania that add friction to player onboarding.
BetMGM launched in Alberta during the quarter and said early performance was encouraging. Nearly 10% of new Alberta players had an existing relationship with MGM, according to Greenblatt. The company did not include potential upside from Alberta in its guidance.
Sports Betting Strategy Prioritizes Value Over Volume Online sports betting revenue was flat year over year at $228 million. BetMGM reported that handle per active player grew 11% and net gaming revenue per active increased 9%, while average monthly active users declined as expected under the company’s more selective customer-acquisition strategy.
Greenblatt said BetMGM has reduced marketing spending in sports-only states and shifted resources toward customers and channels with more attractive returns. Promotions rose year over year, he said, because the company increased reinvestment in higher-value players during the World Cup while scaling back investment in less valuable portions of its customer base.
The World Cup generated three times as much betting handle as the 2022 tournament, according to Greenblatt. He said wagers on the United States-Belgium match exceeded those on any baseball or basketball playoff game and any World Series game. Management said it expects soccer to become a more significant betting category and believes the tournament helped sustain customer engagement through the summer ahead of football season.
Retail performance was weaker, however, as several high-stakes player wagers were successful at company-operated sportsbooks. Chief Financial Officer Gary Deutsch said retail generated “basically zero revenue net” during the second quarter, reflecting greater concentration among high-end VIP players as lower-staking customers migrate to digital channels. The company expects retail results to normalize over time.
Cost Measures Expected to Support Second-Half Profitability Management expects more than 100% profit flow-through in the second half as marketing reductions, normalized tax comparisons and cost initiatives take effect. Deutsch said initiatives span staffing, vendors and other direct costs. For the full year, BetMGM expects EBITDA flow-through of 70% or more, above its longer-term normalized expectation of roughly 40% to 45%.
BetMGM said it sees a path to more than $500 million in adjusted EBITDA from its existing footprint, based on anticipated gaming growth, cost discipline and normalized flow-through rates. However, Greenblatt said the target would likely be reached after 2027.
Looking ahead, management identified Virginia, Washington, D.C., and Indiana as states where future iGaming legalization could create additional opportunities. It also said restrictions on prediction-market activity could benefit licensed online sports-betting operators, with any benefit likely tied broadly to market share in affected states.
About Entain (LON:ENT)Entain plc LSE: ENT is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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BetMGM podruhé letos snížila celoroční výhled a čeká čisté tržby i upravený provozní zisk na spodní hraně odhadů. Cíl 500 milionů USD upraveného provozního zisku už nečeká splnit do roku 2027.
A drone view shows an advertisement for the online sports betting company BetMGM at Fenway Park in Boston, Massachusetts, U.S., June 18, 2024. REUTERS/Brian Snyder Purchase Licensing Rights, opens new tab
July 27 (Reuters) - U.S. online gambling operator BetMGM on Tuesday downgraded its annual outlook for the second time this year and pushed back its target of reaching $500 million in profit, as competition from prediction market platforms mounts intensifies.
Licensed sportsbook operators in the U.S. are facing growing pressure from prediction market platforms such as Kalshi, while FanDuel, DraftKings and Fanatics have launched similar products, raising customer acquisition costs and threatening sports betting market share.
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The company, a joint venture between Ladbrokes-owner Entain (ENT.L), opens new tab and U.S.-based MGM Resorts (MGM.N), opens new tab, expects full-year net revenue and adjusted core profit to come in towards the lower end of its forecast ranges of $2.9 billion to $3.1 billion and $300 million to $350 million, respectively.
BetMGM also said it no longer expects to hit its $500 million adjusted core profit target by 2027, blaming a more competitive landscape and regulatory complexity stemming from the rise of prediction market platforms.
Entain shares were down marginally by 1120 GMT.
Reporting by Yamini Kalia in Bengaluru; Editing by Ronojoy Mazumdar and Tasim Zahid
Our Standards: The Thomson Reuters Trust Principles., opens new tab
MGM Resorts čeká za 2. čtvrtletí pokles EPS o 20,3 % na 63 centů, zatímco tržby mají vzrůst o 0,9 % na 4,45 miliardy USD. Výsledky zveřejní 29. července.
Key Takeaways MGM's Q2 EPS is expected to fall 20.3% YoY to 63 cents, while revenues are seen rising 0.9% to $4.45B.MGM may benefit from stronger convention demand, renovated rooms and easier Las Vegas comparisons.Regional softness, weaker Canadian visits and digital investments may pressure quarterly performance. MGM Resorts International (MGM - Free Report) is scheduled to report second-quarter 2026 results on July 29.
MGM’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed on two occasions, the average surprise being 34.6%.
Trend in Estimate Revision of MGMThe Zacks Consensus Estimate for second-quarter earnings per share (EPS) is pegged at 63 cents, indicating a deterioration of 20.3% from 79 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $4.45 billion, suggesting growth of 0.9% from the prior-year quarter’s figure.
Let's look at how things have shaped up in the quarter.
Factors Likely to Shape MGM Resorts’ Quarterly ResultsMGM Resorts’ second-quarter 2026 performance is likely to have benefited from strong group and convention demand, easier comparisons in Las Vegas, solid casino activity in Macau and continued digital expansion. The return of renovated rooms at MGM Grand, healthy spending among premium customers and product enhancements at MGM Cotai are expected to have supported results in the to-be-reported quarter.
In Las Vegas, MGM’s performance is likely to have gained from a favorable convention calendar, with convention room-night mix expected to rise 2 percentage points year over year to 20% in the second quarter of 2026. Large corporate programs, including events involving Google and Cisco, coupled with the full availability of MGM Grand’s renovated room inventory, are likely to have supported room demand and ancillary spending. The Zacks Consensus Estimate for second-quarter Las Vegas Strip revenues is pegged at $2.15 billion, compared with $2.11 billion reported in the prior-year quarter. Segment adjusted property EBITDA is projected at $720.9 million, up from $710.5 million reported in the year-ago quarter.
MGM China is likely to have benefited from premium-mass demand and recently completed enhancements at MGM Cotai. The addition of approximately 60 suites and 40,000 square feet of premium gaming space is expected to have strengthened the company’s product offering and supported performance in the second quarter. However, the higher branding fee is likely to have weighed on MGM China’s reported segment profitability. MGM China’s adjusted property EBITDA is projected at $276.4 million, down from $301.3 million in the prior-year quarter.
MGM Digital is expected to have supported second-quarter top-line growth, driven by continued momentum at LeoVegas across the United Kingdom, Sweden and the Netherlands, along with expansion in Brazil. The consensus estimate for digital revenues is pegged at $200.7 million, up from $163.9 million a year ago.
However, softness among value-oriented Las Vegas customers, particularly during midweek periods at Luxor and Excalibur, along with short booking windows and weaker Canadian visitation, may have constrained quarterly performance. Regional operations are also likely to have been affected by the sale of Northfield Park, which closed in April. The consensus estimate for regional revenues is pegged at $909.6 million, down from $964.6 million reported in the prior-year quarter, while adjusted property EBITDA is expected to decline to $273.9 million from $308.7 million. Continued investments in Brazil, sportsbook integration and World Cup-related opportunities may have weighed on digital margins in the second quarter.
What Our Model Says About MGM StockOur proven model predicts an earnings beat for MGM Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
MGM’s Earnings ESP: MGM Resorts has an Earnings ESP of +18.79%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
MGM’s Zacks Rank: The company currently has a Zacks Rank #3.
Other Stocks Poised to Beat on EarningsLife Time Group is expected to register a 21.6% increase in earnings for the to-be-reported quarter. LTH reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 10.9%.
Marriott International, Inc. (MAR - Free Report) currently has an Earnings ESP of +1.88% and a Zacks Rank of 3.
Marriott’s earnings for the to-be-reported quarter are expected to increase 15.5%. MAR reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 1.5%.
Cinemark Holdings, Inc. (CNK - Free Report) currently has an Earnings ESP of +6.40% and a Zacks Rank of 3.
Cinemark’s earnings for the to-be-reported quarter are expected to increase 57.1%. CNK reported lower-than-expected earnings in each of the trailing four quarters, the average miss being negative 20.4%.
