MGM Resorts International (MGM) Gross Margin (2010 - 2026)
MGM Resorts International (MGM) recorded Gross Margin of 41.16% in Q3 2026, down 2.27 percentage points from 43.42% a year earlier and down 3.31 percentage points from the prior quarter.
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Analysis
MGM Resorts International (MGM) Gross Margin (2010 - 2026) Analysis & Trends
On a TTM basis, MGM Resorts International's Gross Margin came in at 43.62% as of Sep 30, 2026, down 1.03 percentage points year-over-year; for FY2025, it came in at 44.42%, down 1.10 percentage points from FY2024.
- Annual Gross Margin has declined for three straight years, though with a five-year change of +11.31 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 45.51% in FY2024 (-1.57 pp), 47.08% in FY2023 (-2.24 pp), 49.32% in FY2022 (+1.29 pp) and 48.03% in FY2021 (+14.92 pp).
- The Q3 2026 figure is the lowest quarterly Gross Margin since Q4 2020.
- On a year-over-year basis, Gross Margin has declined for 16 consecutive quarters, with an average year-over-year change of -1.06 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 9.78 percentage points in Q4 2021, against a drop of 3.55 percentage points in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 44.47% (Q2 2026), 44.68% (Q1 2026) and 44.03% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.66 Bn | 12.26 Bn | 1.47 Bn | 45.62% |
| 2 | Flutter Entertainment | 14.04 Bn | 7.43 Bn | 1.52 Bn | 39.18% |
| 3 | Life Time Group Holdings | 10.41 Bn | 9.58 Bn | 419.01 Mn | 46.89% |
| 4 | DraftKings | 9.31 Bn | 4.97 Bn | 551.45 Mn | 38.21% |
| 5 | Wynn Resorts | 8.77 Bn | 2.90 Bn | 655.12 Mn | 38.79% |
| 6 | MGM Resorts International | 8.21 Bn | -1.09 Bn | 1.73 Bn | 41.16% |
| 7 | Madison Square Garden Sports | 7.49 Bn | 7.09 Bn | 119.21 Mn | 42.77% |
| 8 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 75.61% |
| 9 | Churchill Downs | 6.90 Bn | 6.13 Bn | 207.00 Mn | 29.74% |
| 10 | Caesars Entertainment | 5.95 Bn | 2.37 Bn | 1.44 Bn | 49.12% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 41.16% |
| Jun 30, 2026 | 44.47% |
| Mar 31, 2026 | 44.68% |
| Dec 31, 2025 | 44.03% |
| Sep 30, 2025 | 43.42% |
| Jun 30, 2025 | 44.48% |
| Mar 31, 2025 | 45.76% |
| Dec 31, 2024 | 44.91% |
| Sep 30, 2024 | 44.65% |
| Jun 30, 2024 | 46.31% |
| Mar 31, 2024 | 46.14% |
| Dec 31, 2023 | 45.71% |
| Sep 30, 2023 | 47.21% |
| Jun 30, 2023 | 47.14% |
| Mar 31, 2023 | 48.45% |
| Dec 31, 2022 | 48.42% |
| Sep 30, 2022 | 49.63% |
| Jun 30, 2022 | 50.69% |
| Mar 31, 2022 | 48.51% |
| Dec 31, 2021 | 48.80% |
API Access
MGM Resorts International Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=MGM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "MGM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=MGM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();