MGM Resorts stock: CBRE upgrades MGM Resorts stock to Buy with USD 42 target

Published on 10/23/2026 at 06:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BetMGM delivered USD 710 million in third-quarter revenue, up 7.00 percent year over year. October 28 results will test MGM Resorts stock.

Upcoming results and operating growth

CBRE upgraded MGM Resorts to Buy with a USD 42.00 target on October 22, 2026.
BetMGM delivered USD 710 million in third-quarter net revenue on October 13, 2026.
MGM Resorts is scheduled to release third-quarter results on October 28, 2026.
Second-quarter revenue reached USD 4.45 billion and net income USD 322.79 million.

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MGM Resorts International (ISIN US5529531015) owns half of BetMGM, whose third-quarter net revenue reached USD 710 million, up 7.00 percent year over year. On October 22, 2026, Markets Insider reported that CBRE upgraded MGM Resorts from Hold to Buy with a USD 42.00 price target.

BetMGM growth sets the tone

The October 13, 2026 update from MGM Resorts showed adjusted earnings before interest, taxes, depreciation and amortization of USD 86 million, compared with USD 41 million in the year-earlier quarter. The increase was 112.00 percent, while online sports revenue rose 7.00 percent to USD 216 million and iGaming revenue increased 6.00 percent to USD 483 million.

BetMGM reiterated fiscal year 2026 guidance for net revenue of USD 2.90 billion to USD 3.10 billion and adjusted earnings before interest, taxes, depreciation and amortization of USD 300 million to USD 350 million. The company said it was tracking toward the lower end of those ranges, making profitability the central operating test ahead of MGM Resorts' results.

What does 7 percent growth mean?

The answer depends on the quality of the growth. BetMGM's USD 710 million net revenue was accompanied by USD 86 million of adjusted earnings before interest, taxes, depreciation and amortization, while average monthly active users fell 3.00 percent year over year to 878,000 in the third quarter. That mix points to stronger monetization alongside a smaller active-user base.

Three dates frame the story

On July 29, 2026, MGM Resorts reported second-quarter revenue of USD 4.45 billion; Business Quant listed net income of USD 322.79 million for the quarter ended June 30, 2026. On September 28, 2026, MGM Resorts set the third-quarter release for October 28, 2026, after the market close, with a conference call at 5:00 p.m. Eastern Time. The October 13 BetMGM update is the latest operating event.

Next reporting date is October 28

MGM Resorts will publish third-quarter results after the market closes on October 28, 2026, followed by the scheduled conference call. The report will show whether the wider resort portfolio can match BetMGM's stronger digital performance.

Analyst optimism meets an earnings test

CBRE's USD 42.00 target provides a positive counterpoint to the upcoming results, but it remains an analyst assessment rather than a company forecast. MGM Resorts had USD 7.4 billion in market capitalization as of October 22, 2026, and its NYSE listing places the company in the S&P 500.

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