MGM Resorts Q3 Loss Narrows Amid Vegas Slump

MGM Resorts reported a narrower third-quarter net loss than a year earlier, but adjusted results were a loss of 11 cents per share as weaker Las Vegas Strip and regional operations weighed on performance. Strip revenue fell 2%, and adjusted EBITDAR dropped 12%, with softer room rates—including an 8% decline in average daily rates—pressuring margins. Regional revenue declined 8%. Growth at MGM China, where revenue rose 5% and market share reached a record 17.1%, and a 6% increase in MGM Digital revenue provided some offset; the digital unit also narrowed its adjusted EBITDAR loss. CEO Bill Hornbuckle said Strip results rebounded favorably in October, though the company did not provide formal guidance.