MGM Resorts Q1 revenue beats estimates on MGM China & digital growth

MGM Resorts International

29/04/2026 21:24

Overview

US gaming and entertainment firm's Q1 revenue rose 4%, beating analyst expectations

Adjusted EPS for Q1 missed analyst expectations

Company repurchased $90 mln in shares and closed MGM Northfield Park sale for $546 mln

Outlook

Company sees signs of strength for Q2 and beyond driven by solid convention bookings

MGM Resorts expects recently refreshed MGM Grand rooms and new promotions to support future results

Result Drivers

MGM CHINA & DIGITAL GROWTH - Record Q1 consolidated net revenues were driven primarily by MGM China and MGM Digital, per CEO Bill Hornbuckle

LAS VEGAS STRIP RECOVERY - Las Vegas Strip Resorts posted year-over-year quarterly net revenue growth

BETMGM NORTH AMERICA IMPROVEMENT - BetMGM North America Venture reported year-over-year increases in net revenue and Adjusted EBITDA

Company press release: ID:nPn4w4P1ca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$4.5 bln
$4.37 bln (20 Analysts)
Q1 Adjusted EPS
Miss
$0.49
$0.53 (14 Analysts)
Q1 EPS
$0.48
Q1 Net Income
$125 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 11 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the casinos & gaming peer group is "buy"

Wall Street's median 12-month price target for MGM Resorts International is $44.00, about 10.7% above its April 28 closing price of $39.74

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)