MGM Resorts International has unveiled a robust start to the fiscal year, reporting consolidated net revenues of US$4.5 billion for Q1 of 2026. This figure represents a four percent increase over the same period in 2025, a milestone driven largely by the exceptional performance of its digital gaming wings and a continued rebound in the Macau market.
Mixed Bottom-Line Results
While top-line growth was evident, MGM Resorts net income attributable to the firm stood at US$125 million, a decrease from the US$149 million reported in Q1 2025. Similarly, consolidated adjusted EBITDA saw a decline to US$580 million from the previous year’s US$637 million. These results highlight a mixed landscape where rapid online expansion is occasionally balanced by lower profitability in specific land-based divisions.
The Digital Engine: MGM Digital and BetMGM
The MGM Digital segment, which houses subsidiaries like LeoVegas, emerged as a primary growth driver. The division generated US$183 million in net revenue, marking a staggering 43 percent year-on-year increase. Most notably, its adjusted EBITDAR loss narrowed to -US$26 million, showing significant improvement over the -US$34 million loss recorded in the prior year.
Furthermore, BetMGM, the North American joint venture with Entain, reported increases in both net revenue and adjusted EBITDA. MGM’s share of operating income from these unconsolidated affiliates reached US$10 million, a stark turnaround from the losses experienced in early 2025.
Global Footprint: Las Vegas and Macau
On the Las Vegas Strip, net revenues remained steady at US$2.2 billion, while regional operations climbed two percent to US$918 million. Meanwhile, MGM China reported a nine percent revenue surge to US$1.1 billion, reaffirming the sustained recovery of the Asian gaming hub.
President and CEO Bill Hornbuckle expressed optimism regarding the company’s trajectory:
“We are pleased to report record 1Q consolidated net revenues driven primarily by MGM China and MGM Digital, as well as growth at our BetMGM North America Venture. MGM Resorts’ Las Vegas Strip Resorts delivered comparable period quarterly top line growth for the first time in over a year and monthly net revenues that strengthened into March.”
Looking ahead, Hornbuckle cited solid convention bookings and the refresh of the MGM Grand Las Vegas as key catalysts for continued strength in the second quarter.
