MGM Resorts stock holds above $42 as Q2 2026 revenue hits record
Published on 08/29/2026 at 14:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
MGM Resorts (US5529531015) stock traded at $42.67 at the close on August 28, 2026, leaving the shares modestly higher on the day while still slightly below the prior session close of $42.28 per market data as of 7:15 p.m. ET. The latest quote follows the company’s report of record second-quarter 2026 revenue and a mixed earnings picture.
Record Q2 2026 revenue with softer earnings
Per recent coverage of its second-quarter 2026 results, MGM Resorts generated revenue of $4.45 billion in Q2 2026, marking a 1% increase compared with the same quarter a year earlier and setting a new record for second-quarter consolidated revenue. In the same period, adjusted earnings per share came in at $0.59, down from $0.79 in the prior-year quarter, reflecting a 25.3% decline in earnings despite the slight top-line growth.
The company’s profitability metrics also softened. Consolidated adjusted EBITDA in Q2 2026 was reported at $610 million, a decrease of 5.7% compared with the previous year’s second quarter, indicating that higher costs or mix effects outweighed the modest revenue growth. This combination of a 1% revenue increase alongside a 5.7% decline in adjusted EBITDA underscores that margin pressure is currently a key issue for investors following the latest results.
Las Vegas, digital and regional trends
Within the business mix, MGM Resorts’ Las Vegas Strip Resorts remained a growth driver. Revenue for this segment in Q2 2026 was cited at $2.17 billion, representing a 3% increase year over year and signaling continued demand for the company’s flagship properties on the Strip. The faster growth in Las Vegas compared with the overall 1% company-wide revenue gain suggests that other segments grew more slowly or were flat.
MGM’s digital operations also contributed to the latest performance. The company’s unconsolidated North American venture BetMGM delivered second-quarter 2026 net revenues of $711 million, up 3% compared with the same period in the prior year. This incremental growth in digital gaming, combined with record same-store revenues from regional operations as highlighted in recent reporting, points to a diversified revenue base even as overall earnings declined.
Balance sheet and cash returns
The latest figures also shed light on MGM Resorts’ balance sheet and capital allocation. As of the end of the second quarter 2026, the company held cash and cash equivalents of $2.55 billion, up from $2.06 billion at the end of 2025, which indicates an improvement in liquidity of $0.49 billion over that span. Long-term debt stood at $6.07 billion at the end of Q2 2026, slightly lower than the $6.23 billion reported at the end of 2025, reflecting a modest reduction in leverage.
From a cash flow standpoint, MGM Resorts generated net cash provided by operating activities of $1.13 billion during the first half of 2026, while capital expenditures totaled $396 million over the same period. This implies positive free cash flow over the first six months of the year, supporting ongoing investment and shareholder returns. In Q2 2026, the company repurchased 4 million shares for $164 million, and it still had $1.4 billion remaining under its share repurchase authorization, signaling continued capacity for buybacks if conditions warrant.
Stock performance and valuation context
As of the market close on August 28, 2026, MGM Resorts shares changed hands at $42.67, compared with a previous close quoted at $42.28, corresponding to a single-day gain of $0.39 or 0.92% based on delayed market data. This places the stock just above that prior close while still exposed to broader market volatility affecting U.S. equities in late August 2026.
One valuation lens from a recent analysis indicated that MGM shares at $42.65 were trading 6.8% below a GF Value estimate of $45.76, characterizing the stock as slightly undervalued under that model. While such intrinsic value estimates depend on methodology and assumptions, the comparison shows that the current price level is modestly below at least one fair value benchmark. For investors, the contrast between record second-quarter revenue of $4.45 billion and declining adjusted EPS to $0.59 may play a significant role in how the stock’s valuation gap closes over time.
Digital gaming and BetMGM as a growth pillar
A key product and platform within MGM Resorts’ portfolio is its BetMGM digital wagering joint venture, which continues to be a strategic pillar for the company’s long-term growth efforts. The noted $711 million in net revenues for BetMGM in Q2 2026, up 3% year over year, highlights ongoing momentum in online sports betting and iGaming, even as the pace of growth moderates from earlier rapid expansions in the sector.
BetMGM’s performance complements the company’s physical casino and resort operations by extending the MGM brand into regulated online markets. As regulatory frameworks evolve and new jurisdictions open, the digital segment’s revenue trajectory and profitability will be central to how MGM balances investment between its brick-and-mortar resorts and its online platform. The fact that BetMGM delivered positive year-over-year growth in net revenue during a quarter when consolidated adjusted EBITDA declined by 5.7% underlines the strategic importance of digital offerings for future mix and margin improvement.
MGM Resorts stock and current trading picture
MGM Resorts stock is listed on the New York Stock Exchange under the ticker MGM, trading in U.S. dollars and reflecting the combined influence of its Las Vegas, regional and digital businesses. As of the close on August 28, 2026, the price of $42.67 per share provides a reference point for investors weighing the company’s record Q2 2026 revenue of $4.45 billion against the 25.3% year-over-year drop in adjusted EPS to $0.59 and the 5.7% decline in adjusted EBITDA to $610 million. The interplay between modest top-line growth and declining earnings will likely remain central to how the market prices MGM shares in the coming quarters.
