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Gaming Edge’s TL;DR
- MGM Resorts posted a slight second-quarter revenue beat.
- MGM Digital revenue jumped 20% year over year.
- Adjusted EBITDA, however, missed analyst expectations by a wide margin.
MGM Resorts reported Q2 CY2026 revenue of $4.45 billion, up 1% from a year earlier and just ahead of the $4.42 billion analysts expected. Adjusted EPS came in at $0.59, also a touch above the $0.58 consensus, though down from $0.79 in the same quarter last year.
The most relevant read-through may be management’s mix of growth drivers.
CEO Bill Hornbuckle said the quarter included record consolidated revenue.
“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.”
MGM Digital continues to thrive
The softer point in the report was profitability. Adjusted EBITDA was $610.4 million, well below the $1.19 billion analyst estimate. MGM’s adjusted EBITDA margin was 13.7%, a 48.6% miss versus expectations. Operating margin, however, improved to 11.3% from 9.2% a year earlier.
MGM Digital’s 20% growth stands out because it points to continued momentum in the company’s online gambling business, even as the broader quarter looked mixed beneath the headline revenue beat. The company’s casino revenue has averaged 5.3% year-over-year growth over the last two years.
Investors appeared to take a wait-and-see approach. MGM stock was flat immediately after the report, at $45.50. The sell-side analysts expect revenue to decline 1.9% over the next 12 months and full-year EPS to fall 37.6%, from $2.92 to $1.82.
Based on reporting by Adam Hejl for Yahoo Finance.
