MGM Resorts International Earnings Preview: What to Expect

With a market cap of $7.3 billion, MGM Resorts International (MGM) is a global gaming and entertainment company that operates casino resorts offering gaming, hotels, dining, entertainment, retail, and digital betting services across the United States, China, and other international markets. Through segments including Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital, it serves a wide range of customers from premium gaming clients to business and leisure travelers.

The Las Vegas, Nevada-based company is expected to announce its Q3 2026 results after the market closes on Wednesday, Oct. 28. Ahead of this event, analysts expect MGM Resorts to report an adjusted EPS of $0.18, down 25% from $0.24 in the year-ago quarter. It has exceeded Wall Street's earnings estimates in one of the last four quarters while missing on three other occasions.

For fiscal 2026, analysts expect the casino and resort operator to report an adjusted EPS of $1.85, a 44.1% decrease from $3.31 in fiscal 2025. However, adjusted EPS is anticipated to grow 8.7% year-over-year to $2.01 in fiscal 2027.

Shares of MGM Resorts have fallen 9.7% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 14.4% gain and the State Street Consumer Discretionary Select Sector SPDR ETF's (XLY) 3.1% decline over the period.

MGM Resorts International has underperformed over the past year due to weaker Las Vegas operations, declining visitor traffic, softer demand for luxury vacations, and lower revenue per available room, table-game win rates, and food and beverage sales, compounded by room renovations at MGM Grand Las Vegas and ongoing macroeconomic uncertainty. 

Analysts' consensus view on MGM stock is cautiously optimistic, with an overall "Moderate Buy" rating. Among 22 analysts covering the stock, nine recommend "Strong Buy," 10 suggest "Hold," and three advise "Strong Sell." The average analyst price target for MGM Resorts is $41.85, indicating a potential upside of 41.9% from the current levels.