MGM Resorts International
MGM Resorts International operates a global portfolio of gaming, entertainment, and hospitality properties, generating revenue from casino operations, rooms, food and beverage, and retail offerings.
Business. MGM Resorts International (NYSE: MGM) is a consumer discretionary company operating in the casinos and gaming industry. The firm is headquartered in the United States and is primarily listed on the New York Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not provided.
Analyst recommendations
26 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
6Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ2 2026 earnings (confirmed · filed)2026-08-05
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
MGM Resorts International (MGM) is currently tracked by 33 top holders and maintains membership in one major index, according to the latest company profile data. This baseline snapshot establishes the current institutional footprint for the leisure and hospitality operator, providing a reference point for monitoring future shifts in ownership concentration and market classification. Recent data feeds have flagged two major severity holder changes involving investor ID 587, though the signals appear contradictory. One record, detected on June 23, 2026, indicates a modification where the investor’s position increased from 428 shares to 37,309 shares as of March 31, 2026. Conversely, another record detected on June 21, 2026, suggests a reduction from 37,309 shares back to 428 shares for the same period and investor. The conflicting nature of these signals—showing both a significant accumulation and a subsequent divestment of the same magnitude within days of detection—highlights potential data reconciliation issues rather than a clear directional trend in institutional sentiment. Without further clarification, it is not possible to determine whether investor ID 587 is net adding or reducing exposure to MGM stock. As this represents the first analysis for this ticker, there is no prior basis for computing material changes or deltas in financial metrics. Consequently, the significance of these holder movements cannot yet be contextualized against historical trends, leaving the immediate impact on MGM’s shareholder structure ambiguous pending further data verification.
Signals & dispatch
Composite-score breakdown
Synthesis
MGM Resorts International (NYSE: MGM) is a consumer discretionary company operating in the casinos and gaming industry. The firm is headquartered in the United States and is primarily listed on the New York Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not provided.
MGM Resorts International maintains a highly leveraged capital structure, with total liabilities of $36.47 billion against total equity of $2.51 billion, resulting in a debt-to-equity ratio of 2.41. The company holds $2.55 billion in cash and equivalents, which is insufficient to cover its $6.07 billion in long-term debt, leading to a negative net cash position. Liquidity is assessed as medium, supported by a current ratio of 1.33 and operating cash flow of $1.13 billion for the first half of 2026. The company generated $730.6 million in free cash flow after $396.0 million in capital expenditures, indicating positive cash generation despite the heavy debt load.
Profitability metrics show a return on equity of 8.19% and a return on assets of 0.52% for the period. The valuation snapshot indicates a price-to-earnings ratio of 58.36 and an EV/EBITDA of 15.51, suggesting the market prices in significant future growth or recovery potential relative to current earnings. Operating income reached $804.9 million in the first half of 2026, up from $789.6 million in the prior year period, driven by higher revenues and controlled expense growth in core segments. The net income attributable to MGM was $417.6 million, a substantial increase from $197.5 million in the same period last year.
MGM Resorts International (MGM) is currently tracked by 33 top holders and maintains membership in one major index, according to the latest company profile data. This baseline snapshot establishes the current institutional footprint for the leisure and hospitality operator, providing a reference point for monitoring future shifts in ownership concentration and market classification. Recent data feeds have flagged two major severity holder changes involving investor ID 587, though the signals appear contradictory. One record, detected on June 23, 2026, indicates a modification where the investor’s position increased from 428 shares to 37,309 shares as of March 31, 2026. Conversely, another record detected on June 21, 2026, suggests a reduction from 37,309 shares back to 428 shares for the same period and investor. The conflicting nature of these signals—showing both a significant accumulation and a subsequent divestment of the same magnitude within days of detection—highlights potential data reconciliation issues rather than a clear directional trend in institutional sentiment. Without further clarification, it is not possible to determine whether investor ID 587 is net adding or reducing exposure to MGM stock. As this represents the first analysis for this ticker, there is no prior basis for computing material changes or deltas in financial metrics. Consequently, the significance of these holder movements cannot yet be contextualized against historical trends, leaving the immediate impact on MGM’s shareholder structure ambiguous pending further data verification.
- MGM Resorts International generated $8.91 billion in revenue for the first half of 2026, a 2.6% year-over-year increase, driven by growth in casino and food and beverage segments.
- The company maintains a high debt-to-equity ratio of 2.41, with $6.07 billion in long-term debt and $2.55 billion in cash, resulting in a negative net cash position.
- Operating income increased to $804.9 million in the first half of 2026, up from $789.6 million in the prior year, despite a $111.0 million goodwill impairment charge.
- Free cash flow was $730.6 million for the first half of 2026, demonstrating strong cash generation capabilities despite capital expenditures of $396.0 million.
- Analysts have a mean price target of $49.11, suggesting modest upside potential, with a mean recommendation of 2.50 indicating neutral sentiment.
- The company faces medium liquidity and dilution risks, with potential dilution from stock-based awards and a high leverage profile.
Bull / Bear case
Generated · model-assistedThe company's cash conversion ratio of 12.29 is best-in-class compared to the cohort median of 1.42.
Revenue grew at a 3.3% CAGR from FY2023 to FY2025, demonstrating consistent top-line expansion.
MGM generated $1.46 billion in free cash flow in FY2025, supporting financial flexibility.
Long-term debt decreased to $6.23 billion in FY2025, indicating a slight reduction in leverage.
MGM's debt-to-equity ratio of 2.41 places it in the bottom quartile of the Casinos & Gaming cohort.
Analysts assign a hold recommendation with a mean price target implying 3.4% downside.
In focus — financials by report
Revenue $8.91B; Operating income $804.9M.
- ▍Revenue $8.91B
- ▍Operating income $804.9M
- ▍Net margin 4.7%
Revenue $4.45B; Operating income $301.2M.
- ▍Revenue $4.45B
- ▍Operating income $301.2M
- ▍Net margin 2.8%
Revenue $17.54B; Operating income $1.00B.
- ▍Revenue $17.54B
- ▍Operating income $1.00B
- ▍Net margin 1.2%
Revenue $17.24B; Operating income $1.49B.
- ▍Revenue $17.24B
- ▍Operating income $1.49B
- ▍Net margin 4.3%
Revenue $17.24B; Operating income $1.49B.
- ▍Revenue $17.24B
- ▍Operating income $1.49B
- ▍Net margin 4.3%
Revenue $16.16B; Operating income $1.89B.
- ▍Revenue $16.16B
- ▍Operating income $1.89B
- ▍Net margin 7.1%
Revenue $16.16B; Operating income $1.89B.
- ▍Revenue $16.16B
- ▍Operating income $1.89B
- ▍Net margin 7.1%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 1,83 |
| Revenue | —no estimate | —no estimate | 17,7B USD |
| Operating income | —no estimate | —no estimate | 1,3B USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- President, Interactive · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 2 259exercise · 2026-07-01
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 837grant · 2026-06-30
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 2 039grant · 2026-06-30
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 732grant · 2026-06-30
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDAcquired 6 298grant · 2026-05-07
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 6 675exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 6 675exercise · 2026-05-06
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 6 675exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 3 338exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 6 675exercise · 2026-05-06
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 6 675exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 6 675exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 3 337exercise · 2026-05-06
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 3 337exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 6 675exercise · 2026-05-06
- Director · Deferred Stock Units → Common Stock $.01 Par Value NDAcquired 6 675exercise · 2026-05-06
- Director · Restricted Stock Units → Common Stock $.01 Par Value NDDisposed 3 338exercise · 2026-05-06
Physical assets
1 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| CityCenter Central Plant Cogen Units | Power | Power | US | Operating company |
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- MGM Resorts International company facts · 2026-07-30
- MGM Resorts International 10-Q 2026-07-29 · 2026-07-30
- MGM Resorts International 10-Q 2026-04-29 · 2026-07-30
- MGM Resorts International 10-K 2026-02-11 · 2026-07-30
- MGM Resorts International 10-Q 2025-10-29 · 2026-07-30
- allocator_boost (allocator) on MGM · 2026-07-30
- MGM Resorts International Market data — analyst estimates · 2026-07-30
- MGM Resorts International Market data — ESG · 2026-07-30
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,05 %$116M
- Investment Managers · as of 2026-03-310,04 %$80M
- Institutional Investor · as of 2022-09-300,04 %$0M
- Funds · as of 2026-03-310,04 %$246M
- Investment Managers · as of 2024-06-300,02 %$958M
- Investment Managers · as of 2026-03-310,02 %$88M
- Investment Managers · as of 2026-03-310,02 %$120M
- Brokerage Firms · as of 2026-03-310,01 %$66M
- Investment Managers · as of 2025-12-310,01 %$868M
- Investment Managers · as of 2026-03-310,01 %$77M
- Investment Managers · as of 2026-03-310,01 %$188M
- Investment Managers · as of 2024-12-310,01 %$40M
- Investment Managers · as of 2026-03-310,01 %$183M
- Institutional Investor · as of 2026-03-310,01 %$57M
- Brokerage Firms · as of 2026-03-310,01 %$31M
- Investment Managers · as of 2026-03-310,01 %$71M
- Investment Managers · as of 2026-03-310,01 %$53M
- Investment Managers · as of 2026-03-310,01 %$259M
- Investment Managers · as of 2026-03-310,00 %$8M
- Investment Managers · as of 2026-03-310,00 %$9M
- Institutional Investor · as of 2026-03-310,00 %$11M
- Investment Managers · as of 2026-03-310,00 %$9M
- Institutional Investor · as of 2026-03-310,00 %$43M
- Institutional Investor · as of 2026-03-310,00 %$4M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$2M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
- President, Interactive · Common Stock $.01 Par Value NDOther 903 @ $47,52$43K · 2026-07-01
- President, Interactive · Common Stock $.01 Par Value NDOther 2 259 · 2026-07-01
- Director · Common Stock $.01 Par Value NDSold 6 675 @ $38,44$257K · 2026-05-22
- Director · Common Stock $.01 Par Value NDOther 6 675 · 2026-05-06
- Director · Common Stock $.01 Par Value NDOther 3 338 · 2026-05-06
- Director · Common Stock $.01 Par Value NDOther 6 675 · 2026-05-06
- Director · Common Stock $.01 Par Value NDOther 3 338 · 2026-05-06
- Director · Common Stock $.01 Par Value NDOther 6 675 · 2026-05-06
- 10% owner · Common Stock, par value $0.01Bought 450 000 @ $37,13$16,7M · 2026-03-24
- 10% owner · Common Stock, par value $0.01Bought 550 000 @ $37,30$20,5M · 2026-03-23
- Director · Common StockSold 37 500 @ $34,27$1,3M · 2026-03-09
- CHIEF OPERATING OFFICER · Common Stock $.01 Par Value NDOther 299 · 2026-03-01
- CHIEF OPERATING OFFICER · Common Stock $.01 Par Value NDOther 73 @ $36,86$3K · 2026-03-01
- Director, CEO AND PRESIDENT · Common Stock $.01 Par Value NDOther 5 657 · 2026-02-24
- Director, CEO AND PRESIDENT · Common Stock $.01 Par Value NDOther 2 094 @ $35,05$73K · 2026-02-24
- CHIEF FINANCIAL OFFICER · Common Stock $.01 Par Value NDOther 1 077 @ $35,05$38K · 2026-02-24
- CHIEF FINANCIAL OFFICER · Common Stock $.01 Par Value NDOther 2 909 · 2026-02-24
- CHIEF FINANCIAL OFFICER · Common Stock $.01 Par Value NDOther 699 @ $34,25$24K · 2026-02-23
- CHIEF FINANCIAL OFFICER · Common Stock $.01 Par Value NDOther 3 174 · 2026-02-23
- Director, CEO AND PRESIDENT · Common Stock $.01 Par Value NDOther 6 683 · 2026-02-23
- Director, CEO AND PRESIDENT · Common Stock $.01 Par Value NDOther 1 471 @ $34,25$50K · 2026-02-23
- 10% owner · Common Stock, par value $0.01Bought 1 098 748 @ $36,30$39,9M · 2025-12-05
- President, Interactive · Common Stock $.01 Par Value NDOther 15 005 · 2025-12-01
- President, Interactive · Common Stock $.01 Par Value NDOther 5 992 @ $35,44$212K · 2025-12-01
- CHIEF OPERATING OFFICER · Common Stock $.01 Par Value NDOther 4 787 @ $33,12$159K · 2025-10-07
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -1.1%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -2.0%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -19.6%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): 1.7%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -32.8%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 7.1%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -72.4%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): -2.1%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -68.3%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -68.2%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -14.6%Derived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -7.1%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 15.68xDerived (calculated)
- Current ratio (FY 2025-12-31): 1.23xDerived (calculated)
- Return on assets (FY 2025-12-31): 0.5%Derived (calculated)
- Return on equity (FY 2025-12-31): 8.5%Derived (calculated)
- Net margin (FY 2025-12-31): 1.2%Derived (calculated)
- Total assets (annual): USD 41.37BSEC XBRL filing
- Current assets (annual): USD 4.33BSEC XBRL filing
- Total liabilities (annual): USD 38.1BSEC XBRL filing
- EPS (diluted) (annual): USD-PER-SHARES 1SEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES 1SEC XBRL filing
- Operating income (annual): USD 1BSEC XBRL filing
- Shareholders' equity (annual): USD 2.43BSEC XBRL filing