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MGM Resorts International MGM Preopening and start-up expenses

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Other financials

Income statement

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Revenue$4.5B+1.0%
Operating income$503.6M+24.5%
Net income$292.4M+497%
EPS (diluted)$1.11+517%

Balance sheet

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Cash & equivalents$2.5B+30.1%
Total debt$30.2B-4.5%
Total equity$2.5B-15.5%
Total assets$39.8B-4.4%

Cash flow

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Operating cash flow$558.8M-13.5%
CapEx$241.4M-10.1%
Free cash flow$317.4M-15.9%

Valuation

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Market cap$11.19B+19.6%
Enterprise value$38.8B-0.5%
P/E26.3×+8.9×
P/S0.6×+0.1×

Profitability

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Operating margin5.7%-2.4pp
Net margin2.4%-0.7pp
FCF margin8.4%+0.9pp

Returns & leverage

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Return on equity15.5%-1.9pp
Debt / equity12×+1.4×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by MGM Resorts International in its filing.

Tagged under the XBRL concept mgm:PreopeningAndStartUpIncomeExpense.

The source filing: MGM Resorts International’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:19 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000789570-26-000076
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Entertainment, retail and other263,346262,880516,766497,309
General and administrative1,263,2601,213,6912,546,0922,378,589
Corporate expense131,433124,096268,653266,447
Preopening and start-up expenses1128491,089934
Property transactions, net(286,695)125(272,475)15,593
Goodwill impairment111,019111,019
Depreciation and amortization282,315241,975546,040478,419
3,973,1954,026,1658,136,6977,905,294

Item 1. Financial Statements (Unaudited)

FAQ

What is MGM Resorts International's preopening and start-up expenses?
MGM Resorts International (MGM) reported preopening and start-up expenses of -$112K in Q2 2026.
How has MGM Resorts International's preopening and start-up expenses changed year-over-year?
MGM Resorts International's preopening and start-up expenses increased by 86.8% year-over-year, from -$849K to -$112K.
What is the long-term trend for MGM Resorts International's preopening and start-up expenses?
Over 4 years (2021 to 2025), MGM Resorts International's preopening and start-up expenses has grown at a -32.0% compound annual growth rate (CAGR), from -$5.09M to -$1.09M.
What does preopening and start-up expenses mean?
Costs incurred during the development, construction, or launch phase of new properties or business initiatives before they become operational. These expenses are typically non-recurring and reflect the company's investment in future growth.

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