MGM Resorts stock falls 1.89 percent after Q2 earnings miss

Published on 09/23/2026 at 20:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MGM Resorts stock posted Q2 revenue of USD 4.45 billion on July 29, while adjusted EPS reached USD 0.59. UBS cut its target from USD 50 to USD 46 on September 11.

Beleuchtetes Resort-Hochhaus mit Palmen an einem Boulevard bei Dämmerung — Fotorealistisches Abendbild eines Resort-Hochhauses zeigt MGM Resorts ISIN US5529531015 im Glücksspiel- und Hotelsektor authentisch, Illustration mit AI erstellt.

MGM Resorts International stock (ISIN US5529531015) was trading at USD 38.16 on the NYSE on September 23, 2026, down USD 0.74 or 1.89 percent from the prior close of USD 38.90. The move leaves the shares 26.0 percent below their 52-week high of USD 51.59 and 30.7 percent above the 52-week low of USD 29.19.

Q2 revenue reaches USD 4.45 billion

The latest operating picture is mixed. For the second quarter of 2026, MGM Resorts reported revenue of USD 4.45 billion, up 2.2 percent year over year and above the USD 4.42 billion consensus estimate, according to Zacks.

Adjusted EPS came in at USD 0.59, below the USD 0.79 reported in the prior-year quarter but above the USD 0.56 consensus estimate. Consolidated adjusted EBITDA declined 5.7 percent year over year to USD 610 million, showing that revenue growth did not translate into equal earnings growth.

Las Vegas and digital operations diverge

Las Vegas Strip Resorts revenue rose 3 percent year over year to USD 2.17 billion, while segment adjusted EBITDAR increased 3 percent to USD 735 million. MGM Digital revenue advanced 20 percent to USD 196 million, although its adjusted EBITDAR loss widened to USD 31 million from USD 26 million.

BetMGM generated second-quarter net revenue of USD 711 million, up 3 percent, while average monthly actives fell 3 percent to 875,000. The contrast places greater weight on casino and resort performance as digital expansion still carries marketing and gaming-tax costs, according to the same Q2 review by Zacks.

Analyst target moves to USD 46

UBS lowered its MGM Resorts price target from USD 50 to USD 46 and kept a Neutral rating on September 11, 2026, as reported by MarketScreener. The revised target is USD 7.84 above the September 23 intraday price, a 20.5 percent premium, but the stock direction remains negative in the latest session.

Stock stays below its yearly high

MGM Resorts stock was trading at USD 38.16 on the NYSE on September 23, 2026. Its USD 9.60 billion market capitalization and 26.0 percent gap to the 52-week high frame the earnings debate around growth quality, not revenue scale alone.