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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+4.2%
Operating income$301.2M-21.8%
Net income$125.1M-15.8%
EPS (diluted)$0.48-5.9%

Balance sheet

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Cash & equivalents$2.3B+1.0%
Total debt$31.7B-0.6%
Total equity$2.4B-14.7%
Total assets$41.4B-1.2%

Cash flow

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Operating cash flow$567.8M+3.8%
CapEx$154.7M-32.2%
Free cash flow$413.1M+29.5%

Valuation

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Market cap$11.98B+11.9%
Enterprise value$41.38B+2.1%
P/E65.7×+49.9×
P/S0.7×+0.1×

Profitability

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Operating margin5.2%-3.1pp
Net margin1%-2.9pp
FCF margin8.8%+2.0pp

Returns & leverage

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Return on equity6.9%-14.6pp
Debt / equity13×+1.9×
Current ratio1.3×0.0×

Where this comes from

Reported directly by MGM Resorts International in its filing.

Tagged under the XBRL concept mgm:PreopeningAndStartUpIncomeExpense.

The official record: MGM Resorts International’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MGM Resorts International's preopening and start-up expenses?
MGM Resorts International (MGM) reported preopening and start-up expenses of -$977K in Q1 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 decreased by 1049.4% year-over-year, from -$85K to -$977K.
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?
Expenses related to launching new business locations or projects before they open to the public.
How do you interpret preopening and start-up expenses?
High levels indicate active expansion and future growth potential, but can temporarily depress current operating margins.
How does preopening and start-up expenses compare across companies?
Common in capital-intensive industries like hospitality, gaming, and retail expansion.