MGM Resorts International, the biggest operator on the Las Vegas Strip, said lower hotel room rates weighed on its third quarter, but the company says October has bounced back. The results were released after markets closed Wednesday, Oct. 28.
The numbers
- Total revenue: $4.2 billion, down 1% from a year earlier.
- Las Vegas Strip resorts: $2.0 billion in revenue, down 2%. Strip segment adjusted EBITDAR fell 12% to $531 million, from $601 million.
- Regional properties: revenue of $883 million, compared with $957 million a year ago; segment adjusted EBITDAR down 18% to $243 million.
- MGM China: revenue up 5% to $1.1 billion, while segment adjusted EBITDAR slipped 7% to $264 million.
- Bottom line: a net loss attributable to MGM Resorts of $17 million, compared with $285 million in the third quarter of 2025. Adjusted EBITDA was $403 million, versus $506 million.
The company said its BetMGM North America venture and MGM Digital posted strong top-line growth but did not break out those figures in the coverage we reviewed.
CEO Bill Hornbuckle pointed to room pricing as the main drag, saying “October has rebounded favorably.”
What it means for locals and visitors
MGM runs a large share of the Strip’s hotel rooms, including Bellagio, Aria, MGM Grand, Mandalay Bay and the Cosmopolitan, so its results are a good read on how the Strip is doing. Softer room rates over the summer showed up as discounts and promotions for visitors, and a slower quarter puts pressure on hours and tips for resort workers, rideshare drivers and the businesses that depend on Strip traffic.
If the October rebound holds, expect room prices to firm up heading into the busy Las Vegas Grand Prix weekend in November and the holiday convention season. Locals hunting for staycation deals may find the best prices midweek.
The report follows Nevada’s September gaming numbers, which showed Strip gaming win up 0.8%, and Caesars Entertainment’s third-quarter report, which showed a dip in its Las Vegas revenue.