MGM Resorts has announced a record-high revenue of $4.5 billion for the second quarter of 2026, representing a 1% increase over the same period last year. The company is currently evaluating an $18 billion buyout offer from Barry Diller’s People Inc. CEO Bill Hornbuckle indicated that the independent committee responsible for assessing the offer of $48.30 per share is focused on making the best decision for shareholders, although he withheld further details on the matter.
In terms of financial performance, MGM's net income rose dramatically to $292 million from just $49 million a year ago. However, adjusted EBITDA saw a decline of 6%, down to $610 million. At the close of the quarter, MGM reported $2.5 billion in cash and $6 billion in long-term debt.
Hornbuckle expressed confidence that the board will choose the best course of action for both the company and its shareholders.
In Las Vegas, the company recorded a revenue increase of 3%, totaling $2.2 billion, while adjusted EBITDA also grew by 3% to $735 million, largely driven by high demand from luxury visitors. MGM noted that its budget hotels, including Luxor and Excalibur, continue to struggle but are benefiting from new all-inclusive hotel packages that attract budget-conscious travelers.
COO Ayesha Molino mentioned that there is strong demand in the luxury segment, but acknowledged ongoing challenges for the lower-end properties. She highlighted the positive response to the all-inclusive offerings as a strategy to address these challenges.
In Macau, revenue remained stable at $1.1 billion, but adjusted EBITDA dropped by 15% to $257 million, attributed to lower profits from VIP services during the FIFA World Cup.
MGM Digital reported a 20% increase in revenue to $196 million, although its EBITDA loss expanded to $31 million. Additionally, BetMGM posted revenues of $711 million, thanks to sustained growth in iGaming, although sports betting revenue remained flat, and adjusted EBITDA decreased by 15%.
