Against the backdrop of the potential takeover by Barry Diller’s People Inc., MGM reported a solid set of second-quarter results, with consolidated revenue increasing 1% year-on-year to $4.5 billion for the three months ended on June 30.
MGM Reports Successful Q2 2026
MGM Digital division was the main driver of this growth. The division includes LeoVegas but excludes BetMGM, which reports its financial performance separately. Revenue jumped 20% to $196 million. Despite the top-line improvement, the segment’s adjusted EBITDAR loss widened from $26 million to $31 million.
Elsewhere, Las Vegas Strip Resorts continued to underpin MGM’s business, with revenue rising 3% to $2.2 billion. The increase was driven by stronger hotel occupancy and average room rates, alongside improved casino and entertainment performance across its flagship properties.MGM’s Las Vegas property was also crucial for the company’s revenue during the first quarter of this year, as MGM reported stable revenues for the three months ending on March 31.
Across the US, Regional Operations revenue declined 4% to $924 million, reflecting weaker casino revenue. This was partly offset by continued growth in non-gaming revenue streams. In Macau, MGM China generated flat year-on-year revenue of $1.1 billion, although adjusted EBITDAR fell 15% to $257 million.
Across the group, casino revenue increased 2% to $2.38 billion. Rooms revenue dropped 1% to $849.1 million. Meanwhile, food and beverage revenue rose 3% to $802.3, while revenue from entertainment, retail, and other operations declined 5% to $416.3 million.
Operating costs fell by 1%, helping operating profit increase 24% year-on-year to $503.6 million. Non-operating expenses were also significantly lower, declining 67%, which drove a 209% jump in pre-tax profit to $413.5 million.
After paying $90.7 million in income taxes, MGM reported a net profit of $322.8 million, which is up 173% from the same period in 2025. After accounting for non-controlling interests, net profit attributable to MGM reached $292.4 million, representing a 497% increase compared with the second quarter of 2025.
MGM CEO Bill Hornbuckle said that the company had once again demonstrated the strength of its diversified portfolio, highlighted by record second-quarter consolidated revenue. He attributed the performance to a second consecutive quarter of year-on-year revenue growth at Las Vegas Strip Resorts, record same-store quarterly revenue from Regional Operations, and 20% year-on-year revenue growth at MGM Digital.
Hornbuckle also used the company’s Q2 results to provide an update on the development of MGM Osaka in Japan. He explained that the integrated resort remains on schedule to open in 2030, with the project continuing to meet key construction milestones on time.
MGM Osaka had its groundbreaking ceremony last year, and according to Hornbuckle, the underground work is progressing, with over 60% of foundation piles completed. He also explained that the main structure of the venue is taking shape with ongoing concrete placement and structural steel fabrication.
In other recent news about MGM, the company announced the extension of its partnerships with Major League Baseball.
