MGM Resorts Reports Q2 Revenue Growth Driven by Las Vegas Performance
MGM Resorts International reported a 1% year-over-year increase in consolidated net revenue for the second quarter of 2026, driven primarily by strong performance from its Las Vegas properties. CEO Bill Hornbuckle attributed this growth to sustained business momentum and solid fundamentals at the start of the year that carried through Q2. Both revenues and adjusted EBITDAR increased by 3% in Las Vegas during the period. The company's CFO, Jonathan Halkyard, highlighted a disciplined capital allocation strategy as key to driving performance across its Strip resorts. MGM saw record convention average daily rates (ADR) and catering revenue due to strong attendance at events hosted on-site. Despite ongoing challenges with international travel—particularly from Canada—the market is showing signs of stabilization. MGM also received a go-private offer valued over $18 billion from People Incorporated, owned by Barry Diller. The board has formed an independent committee to evaluate the proposal.
Topics: casinos hotel industry Las Vegas revenue growth