MGM Resorts International reported iGaming and total consolidated net revenues of $4.5 billion for the first quarter of 2026, representing a 4% increase compared to the same period last year, with growth supported in part by its digital operations.
Net income attributable to the company was $125 million, down from $149 million in Q1 2025, while consolidated adjusted EBITDA declined to $580 million from $637 million. The results reflect mixed performance across segments, with growth in digital and regional operations offset by lower profitability in some land-based divisions.
The iGaming-focused MGM Digital segment generated net revenues of $183 million, an increase of 43% year-on-year, while reporting an adjusted EBITDAR loss of $26 million, compared to a $34 million loss in the prior year. The segment includes operations such as LeoVegas and other online gaming subsidiaries.
In addition, the BetMGM North America venture, in which MGM holds a stake, reported year-on-year increases in both net revenue and adjusted EBITDA. MGM’s share of operating income from unconsolidated affiliates, including BetMGM, totalled $10.0 million, compared to a loss in the prior year period.
Across land-based operations, Las Vegas Strip Resorts reported net revenues of $2.2 billion, broadly flat year-on-year, while regional operations generated $918 million, up 2%. MGM China recorded revenue growth of 9% to $1.1 billion, reflecting continued recovery in that market.
The company also completed the sale of the operations of MGM Northfield Park for $546 million in April 2026, as part of ongoing portfolio management activity.
The results highlight the increasing contribution of iGaming and digital channels within MGM’s overall business, with higher growth rates in online segments compared to traditional casino operations. The performance reflects wider trends in iGaming, where operators continue to expand digital offerings alongside established retail and resort-based businesses.
“We are pleased to report record 1Q consolidated net revenues driven primarily by MGM China and MGM Digital, as well as growth at our BetMGM North America Venture,” said Bill Hornbuckle, President and CEO of MGM Resorts International. “MGM Resorts’ Las Vegas Strip Resorts delivered comparable period quarterly top line growth for the first time in over a year and monthly net revenues that strengthened into March. Looking into the second quarter and beyond, we are seeing signs of strength driven by solid convention bookings, our newly launched all-inclusive promotion, and our recently refreshed rooms at the MGM Grand Las Vegas.”
“This month we closed on the sale of the operations of MGM Northfield Park for $546 million reflecting a significantly higher multiple than currently ascribed to our premium and diverse operations,” said Jonathan Halkyard, CFO of MGM Resorts International. “The proceeds provide MGM Resorts with incremental liquidity to be deployed in line with our priorities of maintaining a strong balance sheet including the return of capital to shareholders through share repurchases.”
