⬤ Loading…
MGM Resorts International
…
S&P 500
$8.0B
Market Cap
48.0
P/E
1.86
PEG
4.1%
ROCE
14.9%
ROE
9.63
D/E
7.6%
OPM
-42.3%
% from 52W High
27
α RS
🔍 MGM is showing a sector-leadership setup because Sector RRG has Consumer Discretionary in the Leading quadrant with the trail still strengthening, it matches 2 of 39 tracked screener presets, and an ECS of 61.2 last quarter. The main caution: the deleveraging preset's Backtest win rate is only 34.2%. Net: Mixed signal stack, not a recommendation. ? RRG Conviction ECS Backtest
Sources
Consumer Discretionary in Leading quadrant · Conviction 2/39 · ECS 61.2 · Backtest win rate 34.2%
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for MGM including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

MGM Resorts International, through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally. It operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. The company operates casino resorts that offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities, as well as online/digital games through its online platforms. Its casino operations include slots and table games, as well as live dealer, online sports betting, and iGaming through BetMGM. The company’s customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding MGM
View All Superinvestors →
Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 4.26M $157.7M 0.20% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →
📊 MIXED MGM Resorts Q1 2026: consolidated revenue grew over 4% driven by digital and China; Las Vegas revenue up for first time in six quarters.
Revenue & Profitability
Consolidated net revenue grew over 4% in Q1 2026. Las Vegas segment adjusted EBITDAR decreased $62 million year-over-year, attributed to a $37 million increase in self-insurance expense and a $31 million decrease in business interruption proceeds. Regional operations saw top-line growth of 2% but segment-adjusted EBITDAR fell $20 million including $9 million higher self-insurance and $10 million lower business interruption proceeds. MGM China segment adjusted EBITDAR decreased $13 million primarily due to a $23 million increase in brand fees paid to MGM Resorts (brand fee rate doubled from 1.75% to 3.5% of revenue). MGM Digital reported $26 million segment adjusted EBITDA loss on 43% revenue growth. BetMGM North America generated 6% revenue growth and 11% EBITDA growth, with $1.5 million in brand fees to MGM Resorts. The company repurchased $90 million of shares in Q1.
Outlook
Management expressed optimism across all business segments, with Las Vegas expected to grow in 2026 due to strong group and convention bookings (20% of room nights in Q2) and easier leisure comparisons. Regional operations saw solid performance and expect continued strength through summer. In Macau, the market is premium-driven and competitive, but MGM China expects sustainable margins and stable market share. However, midweek leisure demand at lower-end Las Vegas properties remains soft, and booking cycles are short. External factors like airline capacity, gas prices, and the Canada travel decline (down 30-40%) present headwinds.
Growth Drivers
Key growth drivers include: MGM Digital with double-digit revenue growth (LeoVegas B2C up over 30% in UK and Sweden) and expansion in Brazil ahead of the World Cup; MGM China through premium mass growth, suite conversions at Cotai (63 new suites) and 40,000 sq ft premium gaming space; Las Vegas convention and group business (record Q1 ADRs and catering revenue) and the all-inclusive program attracting first-time visitors. The Japan project (Osaka) remains on time and on budget for 2030. BetMGM continues to grow iGaming and multi-product states while moderating sports spend towards profitability.
Balance Sheet & CapEx
Japan development: $140 million invested in Q1, with expected funding of $200-225 million for the remainder of 2026, largely pre-funded via a yen-denominated credit facility. MGM China is renovating suites and premium gaming areas (e.g., 100 suites at MGM Macau in design stage). In Las Vegas, capital is deployed for initiatives like the Park MGM gaming salon. No total company capital expenditure guidance was provided.
Margins
MGM China: before the brand fee increase, property-level margins were in the mid-to-high 20s; after the fee, margins are expected in the mid-20s. Management believes Macau operating expenses are appropriately scaled and margins are sustainable. MGM Digital is on track to halve its EBITDA loss in 2026, moving towards breakeven in 2027. Las Vegas margins were pressured in Q1 by self-insurance costs ($37 million added) and lower business interruption proceeds. The company remains focused on cost control.
Key Risks
Management highlighted rising self-insurance expenses due to frivolous litigation backed by large capital pools, which negatively impacted Las Vegas by $37 million and regional ops by $9 million in Q1. Other risks include: midweek leisure softness at lower-end Las Vegas properties (Excalibur, Luxor), a 30-40% decline in Canadian visitors, potential macro headwinds from gas prices and airline capacity, and short booking cycles. In Macau, the market remains volatile with premium customers. The UAE project faces uncertainty regarding gaming licensing.
Generated by AI · Q1 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-29
Record Q2 net revenue was driven by strong Las Vegas, regional, and digital growth, with luxury and group segments outperforming and all-inclusive packages attracting new customers. Macau rebounded post-World Cup, and digital operations are on track for profitability in 2027.
Q1 2026 Q1 2026 2026-04-29
Consolidated net revenue grew over 4% year-over-year, with Las Vegas and digital segments showing strong gains. Macau and regional operations remained resilient, while digital losses are expected to halve in 2026. Share repurchases and targeted capital spending continue.
Q4 2025 Q4 2025 2026-02-05
Record EBITDA in Macau and strong digital growth offset Las Vegas softness, with stabilization and growth expected in 2026. Share repurchases and disciplined capital allocation continue, while major renovations and event-driven demand support a positive outlook.
Q3 2025 Q3 2025 2025-10-29
Q3 saw record results in regional and Macau segments, while Las Vegas faced headwinds but is stabilizing with strong group bookings for 2026. Portfolio optimization continued with the Northfield Park sale and NY license withdrawal. Digital and BetMGM businesses are now cash generative.
Q2 2025 Q2 2025 2025-07-30
Record Q2 net revenue driven by global and digital diversification offset Las Vegas softness. BetMGM raised 2025 guidance, Macau delivered record EBITDA and share, and capital deployment shifted toward development projects while maintaining strong liquidity.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.