Strip casino giant posts steady revenue but lower earnings in Las Vegas
MGM Resorts International reported flat net revenue but lower adjusted earnings for the first quarter of 2026, driven by declines in table games volume and slightly lower win rates.Summary
MGM Resorts International reported $2.2 billion in net revenue for the first three months of 2026, with adjusted earnings decreasing 8 percent to $749 million. Gaming revenue from Las Vegas Strip resorts totaled $513 million, down 5 percent year over year, driven by a 3 percent decline in table games drop to $1.46 billion and slightly lower win rates. On the hotel side, room revenue remained flat at $751 million as occupancy slipped to 92 percent. Despite persistent midweek softness in lower-tier demand, executives emphasized that overall Las Vegas demand remains resilient, with strong weekend performance and stable luxury-tier results helping balance weaknesses in more price-sensitive segments. CEO Bill Hornbuckle noted that momentum built through the quarter, with each month getting progressively better, and expressed confidence in growth through the balance of the year. Chief Operating Officer Ayesha Molino highlighted the company's response to softness through pricing and packaging strategies, including all-inclusive packages and cost control measures. The company is leaning into bundled offerings to broaden appeal among cost-conscious travelers, while weekends remain strong across the Strip, supported by major events and entertainment programming.
(Source：Las-vegas Review Journal)