Mgm Resorts International · NYSE:MGM
Mgm Resorts International — Q2 2026 Earnings Presentation
24 slides from Mgm Resorts International's earnings presentation, Jul 29, 2026
Slide 1: Investor Presentation
MGM Resorts International INVESTOR PRESENTATION 7.29.2026
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: Second Quarter Highlights
SECOND QUARTER HIGHLIGHTS
Slide 5: Second Quarter 2026 Highlights
SECOND QUARTER 2026 HIGHLIGHTS Record 2Q Consolidated Net Revenues Las Vegas Catalysts Regional Strength and Stability Strong 2Q group and convention bookings drove record All-time record same-store quarterly revenue convention ADRs and catering & banquet revenue All-time record same-store qua
Slide 6: Second Quarter 2026 Reportable Segment Performance
SECOND QUARTER 2026 REPORTABLE SEGMENT PERFORMANCE $ in millions LAS VEGAS STRIP RESORTS REGIONAL OPERATIONS Net Revenues Segment Adjusted Margin % Net Revenues Segment Adjusted Margin % EBITDAR EBITDAR $735 $965 32.0% $2,170 $2,115 $710 33.9% 33.6% $924 $309 30.3% $280 $904 (SS1) 30.0% (SS1) 30.8%
Slide 7: BetMGM North America Venture KPIs
BetMGM North America Venture KPIs 1 2Q and 1H 2026 Update $ in millions • Steady growth in 1H as market environment intensified; 2Q 2026 YoY Change 1H 2026 YoY Change however, business fundamentals remain strong • iGaming performance driven by strong player engagement Net Revenue from operations 2 a
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 Osaka Construction Progress
MGM OSAKA CONSTRUCTION PROGRESS 11
Slide 12: The Cosmopolitan's High-End Gaming
THE COSMOPOLITAN’S HIGH-END GAMING 12
Slide 13: ae ao
al ae ao ta a ‘ity Ne sees ain cI wre if
Slide 14: Key Financial Forecasts
KEY FINANCIAL FORECASTS $465 - $500 million excluding stock-based comp, including amounts related to MGM China of 2026 Corporate Expense $50 - $60 million Approximately $725 - $775 million domestic capital expenditures inclusive of approx. $600 2026 Capital Expenditures million in maintenance capita
Slide 15: Repurchased Over 49% of Our Shares Since the Beginning of 2021
REPURCHASED OVER 49% OF OUR SHARES SINCE THE BEGINNING OF 2021 500mn 400mn Shares Outstanding 300mn 200mn 236mn 243mn 200mn 168mn 115mn 100mn 41mn - 2021 2022 2023 2024 2025 1H 2026 Cumulative shares repurchased net of issued shares 15
Slide 16: Solid Performance from Integrated Resorts
SOLID PERFORMANCE FROM INTEGRATED RESORTS LAS VEGAS STRIP REGIONAL 2019 – 2Q26 TTM1 Growth RESORTS OPERATIONS MGM CHINA +72% +15% +56% $ in millions $3,107 2,858 2,821 $3,190 $3,142 $1,643 LAS VEGAS $1,738 STRIP RESORTS $1,144 1,163 1,115 $1,133 REGIONAL $970 OPERATIONS $1,218 $1,295 $1,087 $1,203 1
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 $2 billion 1990 1995 2000 2005 2010 2015 2020 2025 Source: Nevada Control Board Gaming Win from Las Vegas Strip Nonrestricted Locations 17
Slide 18: feet ioeee
feet ioeee
Slide 19: MGM China Financial Information Under IFRS
MGM CHINA FINANCIAL INFORMATION UNDER IFRS Due to the time differences between Macau and the United States, this supplemental information is being provided on behalf of MGM China for the benefit of MGM China investors Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 HK$'000 HK
Slide 20: MGM China Financial Information Under IFRS (MGM Macau)
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 Six Months Ended June 30 June 30 2026 2025 2026 2025 HK$'000 HK
Slide 21: MGM China Financial Information Under IFRS (MGM Cotai)
MGM CHINA FINANCIAL INFORMATION UNDER IFRS Due to the time differences between Macau and the United States, this supplemental information is being provided on behalf of MGM China for the benefit of MGM China investors Three Months Ended Six Months Ended June 30 June 30 2026 2025 2026 2025 HK$'000 HK
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 presentation 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
Slide 24: MGM Resorts is capitalizing on opportunities in Las Vegas, U.S. Regionals, abroad and
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 — Q2 2026 Earnings Presentation on 6ix