MGM Resorts InternationalNYSE: MGM

MGM Resorts reported Q1 2026 record consolidated net revenues of $4.5 billion, up 4% year-over-year on April 29. Las Vegas Strip resorts posted first revenue increase in over a year. Adjusted EPS of $0.49 missed estimate of $0.53, while adjusted EBITDA declined 9% to $580 million. MGM sold Northfield Park property in Ohio for $546 million. Truist raised price target to $42 from $39.

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BetMGM delivered Q1 2026 revenue of $696 million, up 6% year-over-year, with iGaming up 9% and sports betting up 4%, and EBITDA up 11%. However, UBS downgraded its outlook, lowering the price target from $40 to $39 while maintaining a Neutral rating, citing weaker-than-expected Q1 performance and rising customer acquisition costs in online sports betting. The company attributes cost pressures to competitors spending at unsustainable levels on sports betting advertising. Competitive pressure is expected to intensify ahead of the World Cup in June-July and NFL season in September. MGM also announced plans to open a resort in Japan in 2030.

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BetMGM reported Q1 2026 Net Revenue of $696 million (up 6% YoY) and Adjusted EBITDA of $25 million (up 11% YoY) on April 14, with iGaming up 9% to $481M and Sports up 4% to $203M. Company reiterated FY 2026 EBITDA guidance of $300-350M. MGM entered new voting agreement with Barry Diller's IAC capping collective voting power at 25.73%. Earnings due April 29.

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MGM Resorts will release Q1 2026 earnings after market close on April 29. Las Vegas Strip visitation is down year-to-date. MGM launched all-inclusive vacation packages starting at $330 for two-night stays. Morgan Stanley raised price target to $35 from $34. Analyst consensus is Moderate Buy with $42.88 target.

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MGM Resorts struck voting agreement with IAC and Barry Diller on April 3 capping unilateral voting power. Morgan Stanley reaffirmed Underweight rating but raised price target to $35. Company launched all-inclusive resort deals at Luxor/Excalibur. Q1 earnings due April 29.

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MGM Resorts set to report Q1 2026 earnings on April 29 with expected adjusted EPS of $0.62, down 10.1% YoY. Morgan Stanley raised price target to $35 from $34 (Underweight). Stifel maintained Buy but lowered target to $48 from $50. MGM launched all-inclusive packages at Luxor and Excalibur. BetMGM 1Q update is April 14 with $500M EBITDA target by 2027.

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MGM Resorts International (MGM) entered voting agreement with Barry Diller's IAC Inc., solidifying influence of largest shareholder now holding 26.1% stake. Q4 2025 delivered strong results with net income jumping to $294M and consolidated adjusted EBITDA rising 20% to $635M on 6% revenue increase to $4.6B. BetMGM (50% owned) achieved first profitable year in 2025 and positioned for 2027 EBITDA of $500M. Company launched all-inclusive packages at Luxor and Excalibur. Q1 2026 earnings scheduled April 29 with analyst expectations of $0.62 adjusted EPS (-10.1% YoY). Stock up ~4% YTD, indicating investor comfort with slow growth outlook for Las Vegas Strip. Las Vegas Strip visitation down YTD raises demand concerns. Consensus "Hold" from 15 analysts with average price target of $42.58 (+15.05% upside). Morgan Stanley maintains "Underweight" with price target of $35 despite recent reaffirmation. Company facing near-term headwinds but positioning for future growth.

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MGM launched new all-inclusive vacation packages at Luxor and Excalibur starting $330+tax for two people, two nights, with dynamic pricing and no blackout dates. Stifel analyst Steven Wieczynski reiterates Buy but lowered price target to $48 from $50 due to leisure concerns on the Strip. IAC Inc. reported 25.7% beneficial ownership (65.8M shares). BetMGM Q1 2026 update April 14, 2026 at 7:00 a.m. ET; company earnings due April 29, 2026. 15 analysts rate MGM "Hold" with average $42.58 target, 15.05% upside.

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No material news in the last 48 hours.

MGM Resorts launched new all-inclusive bundles at Luxor/Excalibur combining hotel/dining/entertainment. Q4 earnings beat; stronger 2026 performance promised in back half. Awarded sole urban Japanese gaming concession; resort opening 2030.

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MGM Q1 2026 earnings release scheduled April 29. IAC/InterActiveCorp led by Barry Diller increased stake to over 23%, becoming largest shareholder. MGM closed Luxor Buffet on March 30. BetMGM launching Court of Legends speakeasy at Bellagio April 4-6. Stock at $37.01 with average analyst target $42.58.

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MGM reported best full-year consolidated net revenues in company history driven by record MGM China performance. IAC/InterActiveCorp increased stake to >23% (largest shareholder) and made additional 1M share purchase. MGM launched all-inclusive Las Vegas bundles at Luxor and Excalibur combining hotel, dining, entertainment, parking. Q4 2025 revenues of $4.6B with net income of $294M and Adjusted EBITDA of $635M. Analyst consensus is Hold with 12-month price target of $42.58 (+15% upside).

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MGM launched all-inclusive vacation packages on March 25, bundling hotel, meals, entertainment, and parking at Luxor and Excalibur starting at $330+/night. Expanded partnership with Marriott Bonvoy. Stock faces headwinds from declining consumer sentiment.

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