Mgm Resorts International · NYSE:MGM
Mgm Resorts International — Q1 2026 Earnings Presentation
24 slides from Mgm Resorts International's earnings presentation, Apr 29, 2026
Slide 1: Investor Presentation
MGM Resorts International INVESTOR PRESENTATION 4.29.2026
Slide 2: World-class operators poised to capture unparalleled global TAM
MGM RESORTS INTERNATIONAL WORLD-CLASS OPERATORS POISED TO CAPTURE UNPARALLELED GLOBAL TAM THROUGH ITS RESORTS AND DIGITAL PLATFORMS Growing Global Access to $150 Billion Premium Brands Presence in Regulated TAM 1 1. Calculated as digital + brick & mortar gross gaming revenue from active jurisdiction
Slide 3: Our mission: to be the world's premier gaming entertainment company
OUR MISSION: TO BE THE WORLD'S PREMIER GAMING ENTERTAINMENT COMPANY Operator of 17 properties in the United States and Macau Development underway with an integrated resort in Japan and resort in Dubai Sports betting and gaming entertainment company in 29 North American jurisdictions MGM Digital Onli
Slide 4: First Quarter Highlights
FIRST QUARTER HIGHLIGHTS
Slide 5: First Quarter 2026 Highlights
FIRST QUARTER 2026 HIGHLIGHTS Record 1Q Consolidated Net Revenues Las Vegas Catalysts BetMGM North America Venture Strong group and convention booking trends iGaming focus remains advantage as net revenue Record 1Q convention ADRs and catering & from operations approaches $2 billion annual ban
Slide 6: First Quarter 2026 Operating Segment Performance
FIRST QUARTER 2026 OPERATING SEGMENT PERFORMANCE $ in millions LAS VEGAS STRIP RESORTS REGIONAL OPERATIONS Net Revenues Segment Adjusted Margin % Net Revenues Segment Adjusted Margin % EBITDAR EBITDAR $811 37.3% 31.0% $2,180 $2,176 34.4% $918 $900 $749 $279 28.3% $259 Flat vs -8% vs -292 bps +2% vs
Slide 7: BetMGM North America Venture KPIs
BetMGM North America Venture KPIs 1 • 1Q performance reflects continued successful execution of 1Q 2026 Update refined player management strategy $ in millions Three months ended March 31, • Net Revenue from operations of $696 million, +6% YoY 2026 2025 YoY Change • iGaming Net Revenue +9% YoY, Onli
Slide 8: MGM Digital Overview
MGM DIGITAL OVERVIEW Over $1 billion invested to create a highly profitable core business built on a proprietary technology foundation with a significant, broad-based growth opportunity LeoVegas B2C1 Brazil (50.01%) Key Markets SWE, ITA, ESP, DEN, NED, UK BRA Content Providers Market leading positi
Slide 9: AI Strategy
AI STRATEGY Focused on Guest Experience, Operational Discipline, and Speed of Execution Representative examples include: GUEST EXPERIENCE & OPERATIONAL EFFECTIVENESS & AI-ACCELERATED ENGINEERING SERVICES EMPLOYEE PRODUCTIVITY • AI-Enabled Digital Concierge • Intelligent Workforce Scheduling & Labor
Slide 10: Pye et
Pye et wilt
Slide 11: MGM Gaming Streaming Lounge
MGM GAMING STREAMING LOUNGE 11
Slide 12: MGM Cotai Premium Gaming Area and Suites
MGM COTAI PREMIUM GAMING AREA AND SUITES 12
Slide 13: NS a
1 NS a NUE HE WS
Slide 14: Key Financial Forecasts
KEY FINANCIAL FORECASTS $450 - $485 million excluding stock-based comp, including amounts related to MGM China of 2026 Corporate Expense $45 - $50 million Approximately $685 - $735 million domestic capital expenditures inclusive of approx. $600 2026 Capital Expenditures million in maintenance capita
Slide 15: Repurchased over 48% of our shares since the beginning of 2021
REPURCHASED OVER 48% OF OUR SHARES SINCE THE BEGINNING OF 2021 500mn 400mn Shares Outstanding 300mn 200mn 236mn 238mn 200mn 168mn 115mn 100mn 41mn - 2021 2022 2023 2024 2025 1Q 2026 Cumulative shares repurchased net of issued shares 15
Slide 16: Solid Performance from Integrated Resorts
SOLID PERFORMANCE FROM INTEGRATED RESORTS 2019 – 1Q26 TTM1 Growth LAS VEGAS REGIONALS MGM CHINA +70% +18% +62% $ in millions $3,107 2,858 2,796 $3,190 $3,142 $1,643 $1,738 LAS VEGAS $1,144 1,163 1,144 $1,133 $970 REGIONALS $1,218 $1,295 $1,087 $1,203 1,191 MGM CHINA $735 $867 $25 ($203) 2019 2021 20
Slide 17: Las Vegas Strip GGR has grown more than 4x over 30 years
LAS VEGAS STRIP GGR HAS GROWN MORE THAN 4X OVER 30 YEARS $10 billion 4% GGR CAGR $8 billion $6 billion $4 billion $2 billion 1990 1995 2000 2005 2010 2015 2020 2025 Source: Nevada Control Board Gaming Win from Las Vegas Strip Nonrestricted Locations 17
Slide 18: feet ioeee
feet ioeee
Slide 19: MGM China Financial Information Under IFRS
MGM CHINA FINANCIAL INFORMATION UNDER IFRS Due to the time differences between Macau and the United States, this supplemental information is being provided on behalf of MGM China for the benefit of MGM China investors Three Months Ended March 31 2026 2025 HK$'000 HK$'000 (unaudited) (unaudited) Reve
Slide 20: MGM China Financial Information Under IFRS
MGM CHINA FINANCIAL INFORMATION UNDER IFRS Due to the time differences between Macau and the United States, this supplemental information is being provided on behalf of MGM China for the benefit of MGM China investors Three Months Ended March 31 2026 2025 HK$'000 HK$'000 MGM MACAU (unaudited) (unaud
Slide 21: MGM China Financial Information Under IFRS
MGM CHINA FINANCIAL INFORMATION UNDER IFRS Due to the time differences between Macau and the United States, this supplemental information is being provided on behalf of MGM China for the benefit of MGM China investors Three Months Ended March 31 2026 2025 HK$'000 HK$'000 MGM COTAI (unaudited) (unaud
Slide 22: Our mission: to be the world's premier gaming & entertainment company
OUR MISSION: TO BE THE WORLD'S PREMIER GAMING & ENTERTAINMENT COMPANY 22
Slide 23: Forward-Looking Statements
F O R W A R D - L O O K I N G S TAT E M E N T S Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and/or uncer tainties, including those described in the Company's publ
Slide 24: MGM Resorts is capitalizing on opportunities in Las Vegas, U.S. Regionals, abroad and online
MGM Resorts is capitalizing on opportunities in Las Vegas, U.S. Regionals, abroad and online, to further its goal to be the global leader in gaming entertainment.
MGM Resorts International — Q1 2026 Earnings Presentation on 6ix