MGM Resorts International (MGM) Earnings Call Transcripts

MGM Resorts International's Latest Earnings Call - Q2 FY2026

In the second quarter of fiscal year 2026, MGM Resorts International reported record consolidated net revenue of $3.2 billion, a 15% increase year-over-year, and adjusted EBITDA of $750 million, reflecting a 10% increase. The strong performance was driven by a resurgence in the Las Vegas Strip and regional operations, alongside a 20% revenue growth in MGM Digital. Management maintained its full-year guidance, expecting continued positive momentum, particularly in group and convention bookings, which are projected to contribute significantly to the second half of the year.

Reported metrics

Guidance from management

Management maintained its full-year guidance, expecting continued positive momentum driven by strong group and convention bookings and an expanded events calendar in Las Vegas.

What management said

Yes, I think your math is about right in terms of what the price has been over the past several years and our share repurchases. We have -- we bought back fewer shares in this past quarter, only about $164 million worth at about, I would say, about $37 a share or thereabouts. So, of course, we think that, that's been a good use of capital. As it relates to the current value of the stock, we've gone through this on ...

And Shaun, maybe just as a more global thesis, Las Vegas is our home. Las Vegas is the epicenter of gaming in many respects. It's not going anywhere, and there's no -- I don't think anything immediately is going to come even close to competing with it. So we believe in it's not only midterm but long-term future. And so we want to continue to invest aggressively where it makes sense and luxury experiences -- sorry, it...

What analysts pressed on

Analysts expressed concerns regarding the performance of lower-end properties and the potential impact of competitive pressures in the regional markets. There were questions about the sustainability of revenue growth amid changing consumer behaviors and economic conditions.

Main topics on the call

• Record Revenue Growth — MGM reported a record second quarter consolidated net revenue of $3.2 billion, up 15% year-over-year. CEO Bill Hornbuckle stated, "We are pleased to report that solid fundamentals and business momentum we saw at the star...
• Strong Las Vegas Performance — Las Vegas Strip Resorts saw year-over-year revenue growth, driven by a solid group and convention business. Hornbuckle noted, "Our group and convention business picked up where it left off in Q1, delivering a 20% room mi...
• MGM Digital Growth — MGM Digital experienced a 20% revenue growth in Q2, contributing significantly to overall performance. CFO Jonathan Halkyard remarked, "Our second quarter performance keeps us well positioned to meet our full year guidan...
• Macau Market Recovery — MGM China maintained a market share of 16.4% despite a temporary dip due to the World Cup. Management expressed confidence in recovery, stating, "Our confidence is reinforced by the immediate and encouraging rebound in v...

Read the full MGM Resorts International transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 53 MGM Resorts International earnings call transcripts on record, spanning February 12, 2020 to July 29, 2026. Based on this history, MGM Resorts International reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MGM

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Hotels, Restaurants and Leisure

Calls on record

53

First call

February 12, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly