MGM Says Las Vegas Summer Pricing Power Weakened

On October 29, 2026, MGM Resorts reported weak summer performance on the Las Vegas Strip. The company controls 40% of hotel rooms on the Las Vegas Strip. CEO Bill Hornbuckle said on Wednesday's earnings call that rising airfare and gasoline prices led to lower room demand, and that relief is needed in fuel, gasoline and airfare. CFO Jonathan Halkyard said July room rates were roughly flat with the same period a year earlier, performance deteriorated month by month in the third quarter, and then eased somewhat in October.