MGM Resorts International
Operator of casino resorts and online gaming brands in the United States, Macau, Europe, and Brazil.
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Profile
Operates casino resorts across the Las Vegas Strip, regional U.S. markets, and Macau, earning from gaming, hotel rooms, food and beverage, conventions, and entertainment. LeoVegas and BetMGM add online gaming and sports betting, while the domestic resort portfolio operates entirely on leased real estate.
Operates integrated casino resorts on the Las Vegas Strip and in regional U.S. markets, pairing gaming with hotels, conventions, dining, live entertainment, retail, and nightlife. In Macau, controlled subsidiary MGM China runs MGM Macau and MGM Cotai under a government gaming concession.
Extends beyond physical resorts through LeoVegas and other consolidated online-gaming businesses, while the BetMGM joint venture offers sports betting and online gaming in North America. A shared rewards program and data-driven marketing connect gaming and non-gaming experiences across properties and digital channels. A separate joint venture with ORIX is developing an integrated resort in Osaka.
Revenue depends on property visitation, room demand, gaming volumes, and access to regulated markets. Every domestic property operates under triple-net leases, leaving the operator responsible for rent, maintenance, insurance, taxes, and capital spending.
Company facts
Key statistics
Year to date +15.8% · Average volume (30d) 2.2M
Analysts
Unavailable right now.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.56 | $0.59 | +5.5% | $4.42B | $4.45B | +0.8% | −0.37% |
| Apr 29, 2026Q1 FY26 | $0.56 | $0.49 | −12.5% | $4.37B | $4.45B | +2.0% | −0.84% |
| Feb 5, 2026Q4 FY25 | $0.64 | $1.60 | +150.0% | $4.50B | $4.61B | +2.4% | +3.34% |
| Oct 29, 2025Q3 FY25 | $0.37 | $0.24 | −35.1% | $4.42B | $4.25B | −3.8% | −1.57% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.28B | $4.40B | $4.25B | $4.61B | $4.45B | $4.45B | |
| Gross profit | $1.96B | $1.96B | $1.85B | $2.03B | $1.99B | $1.98B | |
| Operating income | $385.1M | $404.6M | −$112.9M | $325.0M | $301.2M | $503.6M | |
| Net income | $148.6M | $49.0M | −$285.3M | $294.0M | $125.1M | $292.4M | |
| Diluted EPS | $0.51 | $0.18 | −$1.05 | $1.11 | $0.48 | $1.11 | |
| Gross margin | 45.8% | 44.5% | 43.4% | 44.0% | 44.7% | 44.5% | |
| Operating margin | 9.0% | 9.2% | -2.7% | 7.1% | 6.8% | 11.3% |
Fiscal years (4-quarter sums)FY21 $9.46B · FY22 $13.12B · FY23 $16.19B · FY24 $17.24B · FY25 $17.54B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.55B · Total debt $29.85B · Total assets $39.85B · Shareholders' equity $2.51B
Dividends
Raised for 2 straight years.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Dec 8, 2022 | Dec 9 | Dec 15 | $0.002 | |
| Sep 8, 2022 | Sep 9 | Sep 15 | $0.0025 | |
| Jun 9, 2022 | Jun 10 | Jun 15 | $0.002 | |
| Mar 9, 2022 | Mar 10 | Mar 15 | $0.002 | |
| Dec 9, 2021 | Dec 10 | Dec 15 | $0.002 | |
| Sep 9, 2021 | Sep 10 | Sep 15 | $0.002 |
Ownership
Shares outstanding 251.60M · Float 182.58M · 72.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Iac Inc. | 66.82M | 26.10% | 13D | Jun 1, 2026 |
| Davis Selected Advisers | 23.90M | 9.50% | 13F | Aug 11, 2026 |
| BlackRock, Inc. | 12.64M | 5.02% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 12.16M | 4.83% | 13F | Aug 13, 2026 |
| Starlite Capital Inc | 9.33M | 3.71% | 13F | Jul 31, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 22, 2026 | Daniel J. Taylor | director | −6,675 | $38.44 |
| Mar 23, 2026 | IAC Inc. | 10 percent owner | +550,000 | $37.30 |
| Mar 24, 2026 | IAC Inc. | 10 percent owner | +450,000 | $37.13 |
| Mar 9, 2026 | Keith A. Meister | director | −37,500 | $34.27 |
| Dec 5, 2025 | IAC Inc. | 10 percent owner | +1,098,748 | $36.30 |
Peers
- Caesars Entertainment
Broad casino-resort and digital-gaming overlap
- Wynn Resorts
Premium Las Vegas and Macau integrated-resort overlap
- Las Vegas Sands
Macau and Singapore integrated-resort pressure
- Boyd Gaming
Regional casino and Las Vegas-area casino-hotel overlap
- Melco Resorts & Entertainment (ADR)
Macau and Asia integrated-resort overlap
- PENN® Entertainment
Regional casino and online gaming overlap
- Flutter Entertainment
FanDuel-led sportsbook and iGaming overlap
- DraftKings
Digital sportsbook and iGaming pressure on BetMGM
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MGM Resorts International | $42.20 | −0.13% | $10.64B | 25.6 | 25.7 | 0.6 | +1.1% |
| Caesars Entertainment | $29.74 | +0.02% | $6.06B | — | — | 0.5 | +3.0% |
| Wynn Resorts | $95.55 | +0.30% | $9.89B | 22.8 | 21.4 | 1.3 | +6.9% |
| Las Vegas Sands | $45.05 | +0.01% | $29.17B | 17.5 | 13.5 | 2.1 | −0.7% |
| Boyd Gaming | $79.95 | +0.63% | $5.77B | 3.5 | 10.7 | 1.4 | +0.0% |
| Melco Resorts & Entertainment (ADR) | $5.32 | −0.09% | $2.07B | 8.9 | 10.7 | 0.4 | −5.7% |
| PENN® Entertainment | $17.36 | +0.03% | $2.32B | — | 11.9 | 0.3 | +5.2% |
| Flutter Entertainment | $101.53 | −0.24% | $17.66B | — | 16.4 | 1.0 | +3.3% |
| DraftKings | $25.27 | +0.09% | $12.53B | — | 43.1 | 2.0 | −4.6% |
| Median | 13.2 | 13.5 | 1.2 | +1.5% |