MGM Resorts (MGM)
NYSEConsumer DiscretionaryResorts & CasinosSnapshot 2026-07-07
$46.64-0.51%
Close 2026-07-07 · 1-day change
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Track MGM free→Warn: Management is running behind on a stated commitment.
MGM is growing revenue modestly with Las Vegas Strip Resorts net revenues at $2.2 billion in Q1 2026. The company repurchased $90 million of shares in Q1, showing strong capital return. Earnings beat in Q4 2025 with EPS of $1.60, signaling operational strength. New promotions and all-inclusive offers support steady growth.
Revenue growth is slow at only 4% year-over-year in Q1 2026. Management progress on key growth priorities is behind or mixed. Earnings missed in Q1 2026 and capital obligations increased, which may pressure cash flow. The sector faces headwinds and the stock is expensive relative to peers.
The price is about 36% below our fair value near $72, reflecting cautious optimism. Analysts expect only about 1% revenue growth, which is lower than our 4%+ growth driver. Our fair value is well above the Street median, indicating upside if growth improves.
Breaks if: EPS falls below $1.80 for FY 2026
Breaks if: Las Vegas Strip Resorts net revenues fall below $2.0 billion in any quarter
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Focus on improving Las Vegas Strip Resorts with room remodels and new promotions.
Stated in 4 of last 4 quarters. Las Vegas Strip Resorts net revenues reached $2.2 billion in 2026-Q1, showing slight growth compared to the prior year. The focus on room remodels and new promotions is delivering limited progress, as the growth is modest.
“Las Vegas Strip Resorts delivered comparable period quarterly top line growth.”
“Our outlook on the business remains bright, particularly in Las Vegas.”
“Las Vegas Strip Resorts' quarterly net revenues increased year-over-year.”
“Las Vegas Strip Resorts continue to show strong performance.”
Breaks if: Share repurchases fall below $50 million in any quarter
Continue share repurchases to return capital to shareholders.
Stated in 3 of last 3 quarters. MGM repurchased approximately 2 million shares for $90 million in 2026-Q1, aligning with its capital return strategy. The ongoing share repurchase plan indicates a consistent focus on returning capital to shareholders, delivering on stated priorities.
“Return of capital to shareholders through share repurchases.”
“Share repurchase plan remains a priority.”
“Capital return to shareholders through buybacks.”