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MGM Resorts (MGM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 29, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.56

Last Year’s EPS

0.79

Same Quarter Last Year

Analyst Consensus

Hold

Based on 16 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a generally constructive outlook: multiple growth engines (MGM Digital, BetMGM, MGM China, Las Vegas convention business) showed clear revenue momentum and the company signaled confidence in full-year revenue growth (>4%). Operational headwinds (notably a $62M EBITDA decline in Las Vegas and higher self-insurance accruals totaling roughly $46M across businesses), ongoing digital segment losses (Q1 EBITDA loss of $26M) and midweek softness at lower-end properties were meaningful but mostly identifiable, partly one-time, or offset by strategic positives (strong digital growth, asset monetizations, share buybacks, and Japan project progress). On balance, highlights modestly outweigh the lowlights.

Company Guidance

Management reiterated full‑year growth and profitability guidance, saying consolidated revenues should grow over 4% in 2026 and that the company remains on track for year‑over‑year growth, with Las Vegas net revenue up in Q1 (first time in ~6 quarters) and Q2 convention room‑night mix expected at ~20% (up ~2 ppt y/y); they flagged Las Vegas segment adjusted EBITDA fell ~$62M in Q1 driven by ~$37M higher self‑insurance accruals and ~ $31M less business‑interruption proceeds, while regional EBITDA was down ~$20M (including ~$9M higher self‑insurance and ~$10M less business‑interruption proceeds). Other metrics and guidance: MGM China net revenue +9% with Q1 market share 15.4% (March 17.3% and held into April) and segment adjusted EBITDAR down ~$13M primarily from a brand fee increase from 1.75% to 3.5% (adding ~ $23M of fees); BetMGM North America net revenue +6% and adjusted EBITDA +11% (branding fees ~ $1.5M; no Q1 distributions); MGM Digital net revenue +43% with a segment EBITDA loss of $26M and LeoVegas B2C growth >30%; MGM Osaka remains on time/on budget for 2030 ( >40% foundation piles complete, first concrete and steel erected) with 2026 funding expected ~$200–225M after $140M invested in Q1 (prefunded by a yen facility); and capital priorities include repurchasing ~2.5M shares for ~$90M in Q1, selling Northfield Park at 6.6x trailing EBITDA, and maintaining disciplined margins and targeted reinvestment.

Consolidated Revenue Growth Guidance

Company reaffirmed consolidated revenue growth outlook of over 4% for the year, driven by strength in digital and MGM China.

Las Vegas Top-Line Recovery

Las Vegas net revenue grew year-over-year in Q1 for the first time in over a year despite a strong leisure comp; company reported record 1Q convention ADRs and catering/banquet revenue and expects convention room night mix to increase ~2 percentage points year-over-year to 20% in Q2.

MGM China Revenue and Market Share Gains

MGM China net revenues grew 9% year-over-year in Q1; market share was 15.4% for the quarter and improved to 17.3% in March (which held into April).

Digital Revenue Acceleration

MGM Digital delivered 43% net revenue growth in Q1 with LeoVegas B2C top-line growth north of 30% (driven by Sweden and the U.K.), marking continued progress toward profitability.

BetMGM Operational Improvement

BetMGM North America venture reported 6% growth in net revenue from operations and 11% growth in adjusted EBITDA in Q1; the company also began earning branding fees (~$1.5M) from the venture.

Japan Project On Track

MGM Osaka remains on time and on budget for a 2030 opening; over 40% of foundation piles installed, first concrete floor poured and first structural steel erected. Full-year funding expected to be ~$200–$225M (about $140M invested in Q1), largely prefunded by a yen-denominated credit facility.

All-Inclusive Package Early Success

New all-inclusive offering (room, dining, entertainment, parking, resort fees) has seen steady momentum and positive feedback, with roughly one-third of bookings from first-time Las Vegas visitors, indicating customer acquisition potential.

Capital Allocation — Share Repurchases and Asset Sale

Company repurchased ~2.5 million shares for $90M in Q1 and noted a ~50% reduction in share count over five years; closed sale of Northfield Park at a ~6.6x trailing EBITDA multiple, providing proceeds to redeploy capital.

MGM Resorts (MGM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MGM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 29, 2026	2026 (Q2)	0.56 / -	0.79	―	―	―
Apr 29, 2026	2026 (Q1)	0.50 / 0.49	0.69	-28.99% (-0.20)
Feb 05, 2026	2025 (Q4)	0.67 / 1.60	0.45	255.56% (+1.15)
Oct 29, 2025	2025 (Q3)	0.41 / 0.24	0.54	-55.56% (-0.30)
Jul 30, 2025	2025 (Q2)	0.58 / 0.79	0.86	-8.14% (-0.07)
Apr 30, 2025	2025 (Q1)	0.46 / 0.69	0.74	-6.76% (-0.05)
Feb 12, 2025	2024 (Q4)	0.30 / 0.45	1.06	-57.55% (-0.61)
Oct 30, 2024	2024 (Q3)	0.59 / 0.54	0.64	-15.62% (-0.10)
Jul 31, 2024	2024 (Q2)	0.61 / 0.86	0.59	45.76% (+0.27)
May 01, 2024	2024 (Q1)	0.57 / 0.74	0.44	68.18% (+0.30)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MGM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 29, 2026	$39.27	$38.94	-0.84%
Feb 05, 2026	$36.28	$37.49	+3.34%
Oct 29, 2025	$31.21	$30.72	-1.57%
Jul 30, 2025	$37.88	$36.45	-3.78%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.