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Las Vegas Room Rates Crashed in September, Slicing MGM Resorts Earnings
Higher airfares and gasoline prices weakened leisure demand, while casino revenue rose 8% and occupancy held at 89%, MGM said.
- On Wednesday, MGM Resorts International reported consolidated revenue of $4.2 billion, a 1% year-over-year decrease, as macroeconomic headwinds pressured its domestic travel market.
- High airfare and gasoline prices weighed on travelers' budgets throughout the quarter, forcing the Las Vegas Strip to accept lower room rates despite flat occupancy at 89%.
- MGM China reported record quarterly revenue of $1.1 billion, a 5% increase, while achieving record third-quarter market share of 17.1%, aided by strong gaming hold at MGM COTAI and MGM MACAU.
- Driven by iGaming, BetMGM adjusted EBITDA surged 112%, with the segment now generating nearly 70% of net revenue from operations as the company's primary growth engine.
- The MGM Osaka project remains on time for a 2030 opening and is 11% complete; the company commits approximately $1 billion annually in 2027 and 2028 to finalize funding.
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MGM Resorts’ Las Vegas revenue, earnings fall as room rates decline
Strip revenue fell 2 percent and adjusted earnings dropped 12 percent in the third quarter as lower room rates offset stronger casino results, though executives said October trends were improving.
·Las Vegas, United States
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Strong gaming hold drives MGM China to record quarterly revenue and all-time high Macau market share of 17.1% in 3Q26
MGM China has obliterated expectations and defied the recent Macau market decline, reporting record quarterly revenue of HK$8.93 billion (US$1.14 billion) in the three months to 30 September 2026 as well as an all-time high in market share of 17.1%. The record results were aided by strong gaming hold at its two Macau integrated resorts, MGM COTAI and MGM MACAU. Total revenue for the quarter was up by 5% year-on-year and by 3.5% quarter-on-quarte…
Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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