What to Watch With MGM Stock in 2026

Core Viewpoint - MGM Resorts International has shown resilience despite challenges in the Las Vegas tourism sector, with potential for a strong performance in 2026 [1][2]. Financial Performance - For the nine-month period ending September 30, 2025, MGM reported essentially zero revenue growth compared to the same period in 2024, reflecting weak results from Las Vegas Strip operations [5]. - The company experienced a 4.9% drop in adjusted EBITDA for the same nine-month period, while Caesars Entertainment reported a 4.2% decline [6]. Market Position - MGM's stock has underperformed compared to the S&P 500, but it is currently up 2.57% year-to-date [2]. - MGM trades at a forward P/E ratio of 15, significantly lower than Caesars' 29, indicating potential for valuation expansion [8]. Future Outlook - Analysts have a wide range of earnings forecasts for MGM in 2026, with estimates ranging from $0.30 to $3.31 per share [8]. - Positive developments, such as improved Las Vegas Strip results and growth in BetMGM and MGM China, could drive a rebound in stock valuation [9][10].